Veralto Co. (NYSE:VLTO) Declares Quarterly Dividend of $0.09

Veralto Co. (NYSE:VLTO) declared a quarterly dividend on Wednesday, May 22nd, Zacks reports. Shareholders of record on Friday, June 28th will be paid a dividend of 0.09 per share on Wednesday, July 31st. This represents a $0.36 annualized dividend and a dividend yield of 0.37%. The ex-dividend date is Friday, June 28th.

Veralto has a dividend payout ratio of 10.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Veralto to earn $3.62 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 9.9%.

Veralto Stock Performance

VLTO stock opened at $98.37 on Thursday. The company has a current ratio of 1.83, a quick ratio of 1.56 and a debt-to-equity ratio of 1.76. Veralto has a 12 month low of $65.51 and a 12 month high of $102.58. The company has a fifty day moving average price of $97.62 and a 200 day moving average price of $88.30.

Veralto (NYSE:VLTO) last posted its quarterly earnings data on Tuesday, April 23rd. The company reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.08. The firm had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.23 billion. The company’s revenue for the quarter was up 1.7% on a year-over-year basis. Equities research analysts anticipate that Veralto will post 3.37 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. BNP Paribas began coverage on shares of Veralto in a report on Tuesday, March 12th. They set an “outperform” rating and a $103.00 target price for the company. Royal Bank of Canada restated a “sector perform” rating and issued a $101.00 target price on shares of Veralto in a report on Friday, June 14th. The Goldman Sachs Group assumed coverage on shares of Veralto in a report on Friday, March 22nd. They set a “buy” rating and a $104.00 price target for the company. Stifel Nicolaus lifted their target price on shares of Veralto from $92.00 to $97.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. Finally, Citigroup boosted their price target on Veralto from $89.00 to $94.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Veralto presently has an average rating of “Moderate Buy” and a consensus price target of $96.00.

Insider Transactions at Veralto

In other news, SVP Melissa Aquino sold 8,041 shares of the business’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $93.56, for a total value of $752,315.96. Following the completion of the sale, the senior vice president now owns 20,761 shares of the company’s stock, valued at approximately $1,942,399.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Melissa Aquino sold 8,041 shares of Veralto stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $93.56, for a total value of $752,315.96. Following the completion of the transaction, the senior vice president now owns 20,761 shares in the company, valued at approximately $1,942,399.16. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Mattias Bystrom sold 302 shares of Veralto stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $100.38, for a total transaction of $30,314.76. Following the completion of the transaction, the senior vice president now directly owns 34,045 shares of the company’s stock, valued at approximately $3,417,437.10. The disclosure for this sale can be found here. Corporate 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.