Veralto (NYSE:VLTO) Issues Quarterly Earnings Results

Veralto (NYSE:VLTO) announced its quarterly earnings data on Tuesday. The company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.08, Briefing.com reports. The company had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.23 billion. The business’s revenue for the quarter was up 1.7% on a year-over-year basis.

Veralto Price Performance

Shares of Veralto stock traded down $0.41 during trading on Friday, reaching $93.38. 109,030 shares of the company traded hands, compared to its average volume of 1,607,172. The company has a quick ratio of 1.40, a current ratio of 1.64 and a debt-to-equity ratio of 1.89. The company has a 50 day moving average price of $88.37 and a 200-day moving average price of $80.23. Veralto has a 1-year low of $65.51 and a 1-year high of $95.40.

Veralto Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.39%. The ex-dividend date is Wednesday, March 27th.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on VLTO. Royal Bank of Canada increased their price objective on Veralto from $78.00 to $91.00 and gave the company a “sector perform” rating in a report on Thursday, February 8th. Argus began coverage on Veralto in a report on Tuesday, January 9th. They set a “buy” rating and a $90.00 price objective for the company. Robert W. Baird upped their price objective on shares of Veralto from $90.00 to $98.00 and gave the stock a “neutral” rating in a research report on Thursday. BMO Capital Markets lifted their price objective on shares of Veralto from $97.00 to $101.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, Citigroup boosted their price target on Veralto from $89.00 to $94.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $95.18.

Insider Buying and Selling at Veralto

In related news, insider Mattias Bystrom sold 500 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $86.10, for a total transaction of $43,050.00. Following the transaction, the insider now directly owns 30,310 shares of the company’s stock, valued at approximately $2,609,691. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.31% of the company’s stock.

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.