Veralto (NYSE:VLTO) Releases Earnings Results, Beats Expectations By $0.08 EPS

Veralto (NYSE:VLTO) released its quarterly earnings data on Tuesday. The company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.08, Briefing.com reports. The firm had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.23 billion. The business’s revenue was up 1.7% compared to the same quarter last year.

Veralto Trading Down 1.5 %

NYSE:VLTO traded down $1.40 on Wednesday, hitting $92.32. The stock had a trading volume of 226,009 shares, compared to its average volume of 1,582,244. Veralto has a 52 week low of $65.51 and a 52 week high of $95.40. The business’s fifty day moving average is $88.06 and its 200 day moving average is $80.05. The company has a quick ratio of 1.40, a current ratio of 1.64 and a debt-to-equity ratio of 1.89.

Veralto Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be issued a $0.09 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $0.36 annualized dividend and a yield of 0.39%.

Insider Transactions at Veralto

In related news, insider Mattias Bystrom sold 500 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $86.10, for a total transaction of $43,050.00. Following the completion of the sale, the insider now directly owns 30,310 shares of the company’s stock, valued at $2,609,691. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on VLTO shares. Deutsche Bank Aktiengesellschaft initiated coverage on Veralto in a research report on Wednesday, January 10th. They set a “hold” rating and a $79.00 price objective on the stock. Royal Bank of Canada upped their price target on Veralto from $78.00 to $91.00 and gave the company a “sector perform” rating in a research report on Thursday, February 8th. Citigroup upped their price target on Veralto from $89.00 to $94.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Stifel Nicolaus upped their price target on Veralto from $92.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. Finally, The Goldman Sachs Group started coverage on Veralto in a research note on Friday, March 22nd. They issued a “buy” rating and a $104.00 price objective on the stock. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $93.36.

Veralto Company Profile

Veralto Corporation provides water analytics, water treatment, marking and coding, and packaging and color services worldwide. It operates through two segments, Water Quality (WQ) and Product Quality & Innovation (PQI). The WQ segment offers precision instrumentation and water treatment technologies to measure, analyze, and treat water in residential, commercial, municipal, industrial, research, and natural resource applications through the Hach, Trojan Technologies, and ChemTreat brands.