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

Veralto Co. (NYSE:VLTO) announced a quarterly dividend on Wednesday, March 5th, RTT News reports. Shareholders of record on Monday, March 31st will be paid a dividend of 0.11 per share on Wednesday, April 30th. This represents a $0.44 annualized dividend and a yield of 0.46%. The ex-dividend date is Monday, March 31st.

Veralto has a dividend payout ratio of 11.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Veralto to earn $3.99 per share next year, which means the company should continue to be able to cover its $0.44 annual dividend with an expected future payout ratio of 11.0%.

Veralto Stock Performance

Shares of VLTO stock opened at $95.97 on Friday. The stock has a market cap of $23.76 billion, a PE ratio of 28.73, a price-to-earnings-growth ratio of 4.24 and a beta of 1.11. Veralto has a 52-week low of $85.91 and a 52-week high of $115.00. The business has a 50-day simple moving average of $99.48 and a 200-day simple moving average of $104.01. The company has a quick ratio of 1.69, a current ratio of 1.92 and a debt-to-equity ratio of 1.27.

Veralto (NYSE:VLTO) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.90 by $0.05. Veralto had a return on equity of 49.29% and a net margin of 16.04%. On average, equities analysts expect that Veralto will post 3.66 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have weighed in on VLTO shares. Stifel Nicolaus decreased their price objective on shares of Veralto from $116.00 to $110.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. Royal Bank of Canada dropped their price objective on Veralto from $111.00 to $110.00 and set a “sector perform” rating on the stock in a report on Thursday, February 6th. Citigroup decreased their target price on Veralto from $118.00 to $116.00 and set a “neutral” rating on the stock in a research report on Monday, January 13th. Finally, Jefferies Financial Group initiated coverage on shares of Veralto in a report on Thursday, December 12th. They issued a “buy” rating and a $125.00 price target for the company. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $113.50.

Insider Transactions at Veralto

In related news, CEO Jennifer Honeycutt sold 10,414 shares of the company’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $98.56, for a total value of $1,026,403.84. Following the completion of the sale, the chief executive officer now owns 116,637 shares of the company’s stock, valued at approximately $11,495,742.72. This represents a 8.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Melissa Aquino sold 463 shares of Veralto stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $99.60, for a total transaction of $46,114.80. Following the transaction, the senior vice president now directly owns 20,761 shares in the company, valued at $2,067,795.60. This trade represents a 2.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 21,881 shares of company stock worth $2,176,770 in the last ninety days. Insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Veralto

A hedge fund recently raised its stake in Veralto stock. Brighton Jones LLC boosted its stake in shares of Veralto Co. (NYSE:VLTO) by 16.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,459 shares of the company’s stock after buying an additional 479 shares during the quarter. Brighton Jones LLC’s holdings in Veralto were worth $352,000 as of its most recent SEC filing. 91.28% of the stock is owned by hedge funds and other institutional investors.

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.