Veralto (NYSE:VLTO) Issues Earnings Results, Beats Estimates By $0.05 EPS

Veralto (NYSE:VLTO) released its quarterly earnings data on Thursday. The company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.05, Briefing.com reports. Veralto had a return on equity of 62.93% and a net margin of 15.60%. The firm had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same period in the prior year, the firm posted $0.80 earnings per share. The firm’s quarterly revenue was up 2.8% on a year-over-year basis.

Veralto Stock Performance

NYSE:VLTO opened at $104.87 on Monday. The firm has a market capitalization of $25.89 billion and a PE ratio of 28.81. The business’s fifty day moving average price is $98.99 and its 200 day moving average price is $91.19. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.83 and a quick ratio of 1.56. Veralto has a 12 month low of $65.51 and a 12 month high of $107.86.

Veralto Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.34%. The ex-dividend date is Friday, June 28th. Veralto’s dividend payout ratio (DPR) is presently 9.89%.

Analysts Set New Price Targets

A number of research firms have commented on VLTO. BMO Capital Markets upped their price target on Veralto from $97.00 to $101.00 and gave the stock an “outperform” rating in a research note on Thursday, April 25th. TD Cowen began coverage on Veralto in a research note on Monday, June 17th. They set a “hold” rating and a $95.00 price target on the stock. Stifel Nicolaus upped their price objective on Veralto from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $101.00 price objective on shares of Veralto in a research report on Friday, June 14th. Finally, Citigroup upped their price objective on Veralto from $89.00 to $94.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Veralto currently has an average rating of “Moderate Buy” and a consensus target price of $97.08.

Insider Activity at Veralto

In other Veralto news, SVP Mattias Bystrom sold 302 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $100.38, for a total transaction of $30,314.76. Following the transaction, the senior vice president now owns 34,045 shares of the company’s stock, valued at $3,417,437.10. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.31% of the stock is currently owned by corporate insiders.

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.