Veralto (NYSE:VLTO) Announces Quarterly Earnings Results

Veralto (NYSE:VLTO) released its earnings results on Wednesday. The company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.04, Briefing.com reports. Veralto had a return on equity of 58.82% and a net margin of 15.60%. The company had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.30 billion. During the same quarter in the previous year, the business posted $0.75 EPS. The business’s revenue for the quarter was up 4.7% on a year-over-year basis.

Veralto Stock Performance

NYSE VLTO traded down $1.74 during trading on Friday, hitting $104.05. The company’s stock had a trading volume of 1,534,222 shares, compared to its average volume of 1,556,290. The company has a quick ratio of 1.70, a current ratio of 1.96 and a debt-to-equity ratio of 1.56. The firm has a 50 day moving average price of $110.91 and a 200 day moving average price of $102.60. The firm has a market cap of $25.68 billion and a P/E ratio of 32.67. Veralto has a 52 week low of $65.51 and a 52 week high of $115.00.

Veralto Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, September 27th will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.35%. The ex-dividend date is Friday, September 27th. Veralto’s dividend payout ratio is currently 11.29%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on VLTO shares. The Goldman Sachs Group lifted their price target on Veralto from $104.00 to $116.00 and gave the company a “buy” rating in a report on Monday, July 29th. Robert W. Baird lifted their price target on Veralto from $98.00 to $112.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft lifted their price target on Veralto from $100.00 to $109.00 and gave the company a “hold” rating in a report on Monday, July 29th. UBS Group started coverage on Veralto in a report on Tuesday, August 13th. They set a “neutral” rating and a $118.00 price target for the company. Finally, BMO Capital Markets lifted their price target on Veralto from $117.00 to $119.00 and gave the company an “outperform” rating in a report on Monday, September 30th. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $108.27.

Insiders Place Their Bets

In other Veralto news, SVP Mattias Bystrom sold 3,000 shares of Veralto stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $105.89, for a total value of $317,670.00. Following the transaction, the senior vice president now directly owns 31,045 shares of the company’s stock, valued at $3,287,355.05. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, SVP Mattias Bystrom sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $105.89, for a total transaction of $317,670.00. Following the sale, the senior vice president now directly owns 31,045 shares in the company, valued at approximately $3,287,355.05. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Surekha Trivedi sold 753 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $106.72, for a total value of $80,360.16. Following the sale, the senior vice president now owns 12,671 shares in the company, valued at approximately $1,352,249.12. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 39,039 shares of company stock valued at $4,310,335 in the last three months. Company insiders own 0.31% of the company’s stock.

About Veralto

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.