Veralto (NYSE:VLTO) Issues Earnings Results

Veralto (NYSE:VLTO) announced its quarterly earnings results on Wednesday. The company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same period in the prior year, the company earned $0.75 earnings per share. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year.

Veralto Stock Performance

Shares of VLTO stock traded down $1.74 on Friday, reaching $104.05. The stock had a trading volume of 1,534,222 shares, compared to its average volume of 1,556,290. Veralto has a 12 month low of $65.51 and a 12 month high of $115.00. The firm has a market capitalization of $25.68 billion and a price-to-earnings ratio of 32.67. The firm’s 50-day moving average is $110.91 and its two-hundred day moving average is $102.60. 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 Dividend Announcement

The company 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%.

Analyst Upgrades and Downgrades

VLTO has been the topic of several research analyst reports. 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. Stifel Nicolaus upped their price objective on Veralto from $117.00 to $119.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. TD Cowen lifted their target price on Veralto from $95.00 to $100.00 and gave the company a “hold” rating in a research report on Tuesday, July 30th. 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. Finally, The Goldman Sachs Group raised 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. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Veralto currently has an average rating of “Hold” and an average price target of $108.27.

Insider Buying and Selling

In related news, SVP Surekha Trivedi sold 753 shares of the business’s stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 11,165 shares of the company’s stock, valued at approximately $1,256,620.75. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Veralto news, CEO Jennifer Honeycutt sold 13,191 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $111.98, for a total value of $1,477,128.18. Following the transaction, the chief executive officer now directly owns 138,546 shares of the company’s stock, valued at $15,514,381.08. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Surekha Trivedi sold 753 shares of the business’s stock in a transaction that occurred 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 sale, the senior vice president now owns 11,165 shares of the company’s stock, valued at approximately $1,256,620.75. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 39,039 shares of company stock worth $4,310,335. Company 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.