Veralto (NYSE:VLTO) Issues Q4 Earnings Guidance

Veralto (NYSE:VLTO) updated its fourth quarter earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $0.86-0.90 for the period, compared to the consensus estimate of $0.90. Veralto also updated its FY 2024 guidance to 3.440-3.480 EPS.

Analyst Upgrades and Downgrades

VLTO has been the topic of several research reports. TD Cowen boosted their price objective on shares of Veralto from $95.00 to $100.00 and gave the company a “hold” rating in a research report on Tuesday, July 30th. The Goldman Sachs Group upped their price objective on Veralto from $104.00 to $116.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft lifted their target price on Veralto from $100.00 to $109.00 and gave the company a “hold” rating in a research report on Monday, July 29th. BMO Capital Markets upped their price target on Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a research report on Monday, September 30th. Finally, Robert W. Baird lifted their price objective on shares of Veralto from $98.00 to $112.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $108.00.

Veralto Stock Performance

Shares of VLTO traded down $0.86 during midday trading on Wednesday, reaching $110.93. The stock had a trading volume of 1,344,019 shares, compared to its average volume of 1,549,735. The firm has a market cap of $27.38 billion and a PE ratio of 34.77. The firm has a 50 day simple moving average of $110.91 and a 200-day simple moving average of $102.60. Veralto has a one year low of $65.51 and a one year high of $114.61. The company has a current ratio of 1.96, a quick ratio of 1.70 and a debt-to-equity ratio of 1.56.

Veralto (NYSE:VLTO) last posted its quarterly earnings results on Thursday, July 25th. The company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.05. Veralto had a return on equity of 58.82% and a net margin of 15.60%. The business had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter last year, the company posted $0.80 earnings per share. Veralto’s quarterly revenue was up 2.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Veralto will post 3.46 EPS for the current year.

Veralto Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, September 27th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.36 annualized dividend and a yield of 0.32%. Veralto’s dividend payout ratio (DPR) is presently 11.29%.

Insider Activity

In related news, SVP Surekha Trivedi sold 753 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $112.55, for a total value of $84,750.15. Following the completion of the sale, the senior vice president now directly owns 11,165 shares in the company, valued at $1,256,620.75. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, SVP Surekha Trivedi sold 753 shares of Veralto stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $112.55, for a total transaction of $84,750.15. Following the completion of the sale, the senior vice president now owns 11,165 shares of the company’s stock, valued at approximately $1,256,620.75. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Mattias Bystrom sold 3,000 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $105.89, for a total transaction of $317,670.00. Following the completion of the transaction, the senior vice president now owns 31,045 shares in the company, valued at $3,287,355.05. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 39,039 shares of company stock valued at $4,310,335. 0.31% of the stock is owned by insiders.

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.