Veralto Co. (VLTO) to Issue Quarterly Dividend of $0.11 on April 30th

Veralto Co. (NYSE:VLTO) declared a quarterly dividend on Wednesday, March 5th, RTT News reports. Shareholders of record on Monday, March 31st will be paid a dividend of 0.11 per share on Wednesday, April 30th. This represents a $0.44 annualized dividend and a yield of 0.46%. The ex-dividend date is Monday, March 31st.

Veralto has a dividend payout ratio of 11.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Veralto to earn $3.99 per share next year, which means the company should continue to be able to cover its $0.44 annual dividend with an expected future payout ratio of 11.0%.

Veralto Stock Down 2.0 %

Shares of VLTO opened at $95.97 on Friday. The firm has a fifty day moving average price of $99.48 and a 200-day moving average price of $104.01. The company has a current ratio of 1.92, a quick ratio of 1.69 and a debt-to-equity ratio of 1.27. The firm has a market capitalization of $23.76 billion, a P/E ratio of 28.73, a P/E/G ratio of 4.24 and a beta of 1.11. Veralto has a 12-month low of $85.91 and a 12-month high of $115.00.

Veralto (NYSE:VLTO) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.05. Veralto had a net margin of 16.04% and a return on equity of 49.29%. Equities research analysts expect that Veralto will post 3.66 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Jennifer Honeycutt sold 10,414 shares of the company’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $98.56, for a total transaction of $1,026,403.84. Following the transaction, the chief executive officer now owns 116,637 shares in the company, valued at $11,495,742.72. This represents a 8.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Melissa Aquino sold 463 shares of Veralto stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $99.60, for a total transaction of $46,114.80. Following the completion of the sale, the senior vice president now owns 20,761 shares of the company’s stock, valued at $2,067,795.60. This trade represents a 2.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,881 shares of company stock valued at $2,176,770. 0.31% of the stock is currently owned by insiders.

Institutional Trading of Veralto

An institutional investor recently raised its position in Veralto stock. Brighton Jones LLC lifted its position in Veralto Co. (NYSE:VLTO) by 16.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,459 shares of the company’s stock after purchasing an additional 479 shares during the quarter. Brighton Jones LLC’s holdings in Veralto were worth $352,000 as of its most recent SEC filing. 91.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

VLTO has been the subject of a number of research analyst reports. Jefferies Financial Group initiated coverage on Veralto in a research report on Thursday, December 12th. They set a “buy” rating and a $125.00 target price for the company. Stifel Nicolaus lowered their price objective on shares of Veralto from $116.00 to $110.00 and set a “buy” rating for the company in a research note on Thursday, February 6th. Royal Bank of Canada dropped their target price on shares of Veralto from $111.00 to $110.00 and set a “sector perform” rating on the stock in a report on Thursday, February 6th. Finally, Citigroup lowered their price target on shares of Veralto from $118.00 to $116.00 and set a “neutral” rating for the company in a research report on Monday, January 13th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Veralto presently has an average rating of “Hold” and an average target price of $113.50.

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.