Veralto (NYSE:VLTO) Issues Quarterly Earnings Results

Veralto (NYSE:VLTO) announced its quarterly earnings data on Wednesday. The company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.30 billion. During the same period in the prior year, the company earned $0.75 earnings per share. The company’s revenue was up 4.7% on a year-over-year basis.

Veralto Trading Down 1.6 %

Shares of VLTO stock opened at $104.05 on Friday. Veralto has a 1-year low of $65.51 and a 1-year high of $115.00. The company has a market cap of $25.68 billion and a price-to-earnings ratio of 32.62. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.96 and a quick ratio of 1.70. The stock has a 50 day simple moving average of $110.75 and a 200-day simple moving average of $102.73.

Veralto Dividend Announcement

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

Insiders Place Their Bets

In other news, SVP Surekha Trivedi sold 753 shares of Veralto stock in a transaction dated 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 $1,352,249.12. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Veralto news, SVP Mattias Bystrom sold 3,000 shares of Veralto stock in a transaction on Monday, July 29th. The shares were sold at an average price of $105.89, for a total transaction of $317,670.00. Following the sale, the senior vice president now 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 document filed with the SEC, which is available through this hyperlink. Also, SVP Surekha Trivedi sold 753 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $106.72, for a total transaction of $80,360.16. Following the completion of the transaction, the senior vice president now directly 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. Over the last ninety days, insiders sold 39,039 shares of company stock worth $4,310,335. Company insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

VLTO has been the topic of several research reports. TD Cowen increased their price target on shares of Veralto from $95.00 to $100.00 and gave the stock a “hold” rating in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Veralto from $100.00 to $109.00 and gave the stock a “hold” rating in a report on Monday, July 29th. The Goldman Sachs Group upped their price target on shares of Veralto from $104.00 to $116.00 and gave the company a “buy” rating in a report on Monday, July 29th. Stifel Nicolaus lifted their price objective on Veralto from $117.00 to $119.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Finally, BMO Capital Markets boosted their price objective on Veralto from $117.00 to $119.00 and gave the company an “outperform” rating in a report on Monday, September 30th. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $108.27.

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.