Veralto Co. (NYSE:VLTO) Announces $0.09 Quarterly Dividend

Veralto Co. (NYSE:VLTO) announced a quarterly dividend on Tuesday, September 24th, Wall Street Journal reports. Shareholders of record on Friday, September 27th will be given a dividend of 0.09 per share on Thursday, October 31st. This represents a $0.36 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date of this dividend is Friday, September 27th.

Veralto has a dividend payout ratio of 9.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Veralto to earn $3.65 per share next year, which means the company should continue to be able to cover its $0.36 annual dividend with an expected future payout ratio of 9.9%.

Veralto Trading Down 0.3 %

NYSE VLTO opened at $111.04 on Thursday. Veralto has a one year low of $65.51 and a one year high of $112.77. The firm has a 50 day simple moving average of $107.66 and a 200-day simple moving average of $99.26. The firm has a market cap of $27.44 billion and a price-to-earnings ratio of 33.31. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.70 and a current ratio of 1.96.

Veralto (NYSE:VLTO) last posted its quarterly earnings results on Thursday, July 25th. The company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.80 by $0.05. The business had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.28 billion. Veralto had a net margin of 15.60% and a return on equity of 58.82%. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.80 earnings per share. Equities research analysts anticipate that Veralto will post 3.45 EPS for the current fiscal year.

Insider Transactions at Veralto

In related news, SVP Mattias Bystrom sold 3,000 shares of the company’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $105.89, for a total value of $317,670.00. Following the completion of the sale, the senior vice president now owns 31,045 shares in the company, valued at approximately $3,287,355.05. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, SVP Surekha Trivedi sold 7,399 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $110.00, for a total value of $813,890.00. Following the transaction, the senior vice president now owns 12,671 shares of the company’s stock, valued at $1,393,810. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Mattias Bystrom sold 3,000 shares of the company’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 value of $317,670.00. Following the sale, the senior vice president now owns 31,045 shares of the company’s stock, valued at approximately $3,287,355.05. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 25,096 shares of company stock worth $2,772,707. Insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on VLTO. TD Cowen lifted their price objective on Veralto from $95.00 to $100.00 and gave the company a “hold” rating in a research note on Tuesday, July 30th. The Goldman Sachs Group boosted their price target on shares of Veralto from $104.00 to $116.00 and gave the stock a “buy” rating in a report on Monday, July 29th. UBS Group began coverage on shares of Veralto in a report on Tuesday, August 13th. They issued a “neutral” rating and a $118.00 price objective on the stock. Robert W. Baird lifted their price objective on shares of Veralto from $98.00 to $112.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Finally, Royal Bank of Canada increased their target price on Veralto from $101.00 to $108.00 and gave the company a “sector perform” rating in a report on Monday, July 29th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Veralto presently has an average rating of “Moderate Buy” and an average target price of $104.46.

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.