Veralto (NYSE:VLTO) Releases Earnings Results, Beats Expectations By $0.04 EPS

Veralto (NYSE:VLTO) posted 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 net margin of 15.60% and a return on equity of 58.82%. The business had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.30 billion. During the same quarter in the previous year, the business posted $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 traded down $1.74 during trading hours 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. 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 has a 52 week low of $65.51 and a 52 week high of $115.00. The firm has a 50-day moving average of $110.75 and a 200 day moving average of $102.73. The company has a market cap of $25.68 billion and a P/E ratio of 32.62.

Veralto Dividend Announcement

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

Insiders Place Their Bets

In related news, SVP Surekha Trivedi sold 753 shares of the business’s stock in a transaction 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 completion of the sale, the senior vice president now directly owns 11,165 shares in the company, valued at $1,256,620.75. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, SVP Surekha Trivedi sold 753 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were 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. 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 can be accessed through this hyperlink. Also, CEO Jennifer Honeycutt sold 13,190 shares of the stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $110.15, for a total value of $1,452,878.50. Following the sale, the chief executive officer now directly owns 138,546 shares in the company, valued at $15,260,841.90. 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. Corporate insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

VLTO has been the topic of a number of recent analyst reports. Stifel Nicolaus increased their price target on Veralto from $117.00 to $119.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. BMO Capital Markets raised their price target on Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a research note on Monday, September 30th. Royal Bank of Canada upped their price objective on shares of Veralto from $108.00 to $111.00 and gave the company a “sector perform” rating in a research note on Friday. The Goldman Sachs Group raised their target price on shares of Veralto from $104.00 to $116.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Finally, Robert W. Baird increased their target price on Veralto from $98.00 to $112.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average 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.