Veralto (NYSE:VLTO) Issues Q4 Earnings Guidance

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

Veralto Stock Down 0.8 %

Shares of VLTO traded down $0.86 during midday trading on Wednesday, reaching $110.93. 1,344,019 shares of the stock were exchanged, compared to its average volume of 1,549,735. The company has a market cap of $27.38 billion and a price-to-earnings 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 12-month low of $65.51 and a 12-month high of $114.61. The company has a quick ratio of 1.70, a current ratio of 1.96 and a debt-to-equity ratio of 1.56.

Veralto (NYSE:VLTO) last released its quarterly earnings results on Thursday, July 25th. The company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.05. Veralto had a return on equity of 58.82% and a net margin of 15.60%. The company had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the prior year, the company posted $0.80 EPS. The firm’s revenue was up 2.8% on a year-over-year basis. Research analysts forecast 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. Stockholders of record on Friday, September 27th will be issued 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 dividend yield of 0.32%. Veralto’s payout ratio is 11.29%.

Analysts Set New Price Targets

Several brokerages recently issued reports on VLTO. The Goldman Sachs Group boosted their price target on Veralto from $104.00 to $116.00 and gave the company a “buy” rating in a research note on Monday, July 29th. UBS Group initiated coverage on Veralto in a research report on Tuesday, August 13th. They issued a “neutral” rating and a $118.00 target price for the company. Royal Bank of Canada boosted their price target on shares of Veralto from $101.00 to $108.00 and gave the company a “sector perform” rating in a report on Monday, July 29th. BMO Capital Markets raised their price objective on shares of Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a report on Monday, September 30th. Finally, Stifel Nicolaus upped their target price on shares of Veralto from $117.00 to $119.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $108.00.

Insider Buying and Selling at Veralto

In related news, SVP Mattias Bystrom sold 3,000 shares of Veralto stock in a transaction on Monday, July 29th. The stock was sold at an average price of $105.89, for a total transaction of $317,670.00. Following the completion of the sale, the senior vice president now directly owns 31,045 shares of the company’s stock, valued at $3,287,355.05. The trade was 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 at this link. In other news, SVP Surekha Trivedi sold 753 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $106.72, for a total value of $80,360.16. Following the completion of the transaction, the senior vice president now owns 12,671 shares of the company’s stock, valued at $1,352,249.12. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction of $317,670.00. Following the completion of the sale, the senior vice president now owns 31,045 shares of the company’s stock, valued at approximately $3,287,355.05. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 39,039 shares of company stock worth $4,310,335. Insiders own 0.31% of the company’s stock.

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.