Veralto Co. (NYSE:VLTO) Plans Quarterly Dividend of $0.11

Veralto Co. (NYSE:VLTO) announced a quarterly dividend on Thursday, December 19th,RTT News reports. Stockholders of record on Tuesday, December 31st will be paid a dividend of 0.11 per share on Friday, January 31st. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.43%. This is a positive change from Veralto’s previous quarterly dividend of $0.09.

Veralto has a dividend payout ratio of 9.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect Veralto to earn $3.71 per share next year, which means the company should continue to be able to cover its $0.36 annual dividend with an expected future payout ratio of 9.7%.

Veralto Stock Up 0.1 %

Veralto stock traded up $0.10 during mid-day trading on Thursday, reaching $101.33. The company’s stock had a trading volume of 1,738,556 shares, compared to its average volume of 1,518,276. The business’s 50 day simple moving average is $106.48 and its 200 day simple moving average is $105.38. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.87 and a current ratio of 2.13. Veralto has a 12 month low of $73.91 and a 12 month high of $115.00. The company has a market capitalization of $25.06 billion, a price-to-earnings ratio of 31.27, a price-to-earnings-growth ratio of 4.30 and a beta of 0.91.

Veralto (NYSE:VLTO) last released its earnings results on Wednesday, October 23rd. The company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.04. Veralto had a return on equity of 52.85% and a net margin of 15.69%. The business had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter in the previous year, the business earned $0.75 earnings per share. Veralto’s quarterly revenue was up 4.7% on a year-over-year basis. As a group, research analysts anticipate that Veralto will post 3.48 earnings per share for the current year.

Insider Buying and Selling at Veralto

In other news, CEO Jennifer Honeycutt sold 13,190 shares of the business’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $110.15, for a total value of $1,452,878.50. Following the completion of the sale, the chief executive officer now owns 138,546 shares of the company’s stock, valued at approximately $15,260,841.90. The trade was a 8.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Surekha Trivedi sold 752 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $102.91, for a total transaction of $77,388.32. Following the completion of the transaction, the senior vice president now owns 10,413 shares in the company, valued at $1,071,601.83. This trade represents a 6.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 14,695 shares of company stock valued at $1,615,017 in the last three months. 0.31% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on VLTO shares. Stifel Nicolaus dropped their price objective on Veralto from $119.00 to $117.00 and set a “buy” rating on the stock in a research note on Wednesday, December 11th. BMO Capital Markets upped their price target 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. Jefferies Financial Group started coverage on shares of Veralto in a research note on Thursday, December 12th. They issued a “buy” rating and a $125.00 price target for the company. Finally, Royal Bank of Canada boosted their price objective on shares of Veralto from $108.00 to $111.00 and gave the stock a “sector perform” rating in a research note on Friday, October 25th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $109.50.

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.