Veralto (NYSE:VLTO) Announces Earnings Results

Veralto (NYSE:VLTO) posted its earnings results on Wednesday. The company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.85 by $0.04, Briefing.com reports. The company had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.30 billion. Veralto had a net margin of 15.60% and a return on equity of 58.82%. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.75 earnings per share.

Veralto Trading Down 1.6 %

VLTO stock traded down $1.74 during midday trading on Friday, reaching $104.05. The company’s stock had a trading volume of 1,534,222 shares, compared to its average volume of 1,556,290. The stock has a fifty day simple moving average of $110.75 and a two-hundred day simple moving average of $102.73. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.70 and a current ratio of 1.96. Veralto has a 1 year low of $65.51 and a 1 year high of $115.00. The firm has a market capitalization of $25.68 billion and a price-to-earnings ratio of 32.62.

Veralto Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, September 27th will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.35%. The ex-dividend date is Friday, September 27th. Veralto’s dividend payout ratio is currently 11.29%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on VLTO shares. Stifel Nicolaus raised their price objective on shares of Veralto from $117.00 to $119.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. The Goldman Sachs Group boosted their price target on shares of Veralto from $104.00 to $116.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. UBS Group began coverage on Veralto in a report on Tuesday, August 13th. They set a “neutral” rating and a $118.00 price objective on the stock. BMO Capital Markets lifted their target price on shares of 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 boosted their target price on Veralto from $98.00 to $112.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Veralto presently has a consensus rating of “Hold” and an average price target of $108.27.

Insider Buying and Selling at Veralto

In related news, SVP Mattias Bystrom sold 3,000 shares of the company’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $105.89, for a total transaction of $317,670.00. Following the transaction, the senior vice president now directly owns 31,045 shares of the company’s stock, valued at $3,287,355.05. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In other Veralto news, SVP Surekha Trivedi sold 7,399 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $110.00, for a total transaction of $813,890.00. Following the completion of the transaction, the senior vice president now owns 12,671 shares of the company’s stock, valued at $1,393,810. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 sale, the senior vice president now directly owns 31,045 shares in the company, valued at approximately $3,287,355.05. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 39,039 shares of company stock valued at $4,310,335 in the last ninety days. Corporate 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.