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

Veralto Co. (NYSE:VLTO) announced a quarterly dividend on Wednesday, May 22nd, Zacks reports. Shareholders of record on Friday, June 28th will be given a dividend of 0.09 per share on Wednesday, July 31st. This represents a $0.36 annualized dividend and a yield of 0.37%. The ex-dividend date of this dividend is Friday, June 28th.

Veralto has a payout ratio of 10.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Veralto to earn $3.62 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 Stock Performance

Shares of NYSE VLTO opened at $98.37 on Thursday. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.83 and a quick ratio of 1.56. The business’s 50 day moving average price is $97.62 and its two-hundred day moving average price is $88.30. Veralto has a twelve month low of $65.51 and a twelve month high of $102.58.

Veralto (NYSE:VLTO) last posted its earnings results on Tuesday, April 23rd. The company reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.08. The business had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.23 billion. Veralto’s revenue was up 1.7% on a year-over-year basis. Analysts predict that Veralto will post 3.37 EPS for the current year.

Insiders Place Their Bets

In other news, SVP Mattias Bystrom sold 302 shares of Veralto stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $100.38, for a total value of $30,314.76. Following the completion of the sale, the senior vice president now owns 34,045 shares in the company, valued at approximately $3,417,437.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, SVP Mattias Bystrom sold 302 shares of the stock in a transaction dated Thursday, May 23rd. The shares were 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 approximately $3,417,437.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Melissa Aquino sold 8,041 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $93.56, for a total value of $752,315.96. Following the transaction, the senior vice president now directly owns 20,761 shares in the company, valued at $1,942,399.16. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Citigroup upped their price target on shares of Veralto from $89.00 to $94.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. BMO Capital Markets increased their target price on Veralto from $97.00 to $101.00 and gave the stock an “outperform” rating in a research note on Thursday, April 25th. Royal Bank of Canada restated a “sector perform” rating and issued a $101.00 price target on shares of Veralto in a research note on Friday, June 14th. Stifel Nicolaus increased their price objective on Veralto from $92.00 to $97.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Finally, BNP Paribas assumed coverage on shares of Veralto in a research report on Tuesday, March 12th. They set an “outperform” rating and a $103.00 price target on the stock. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Veralto has a consensus rating of “Moderate Buy” and an average target price of $96.00.

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.