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

Veralto (NYSE:VLTO) issued its quarterly earnings data 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. The company had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.30 billion. Veralto had a net margin of 15.60% and a return on equity of 58.82%. The firm’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.75 earnings per share.

Veralto Stock Performance

VLTO stock opened at $104.05 on Friday. The business has a 50 day moving average of $110.75 and a 200-day moving average of $102.73. The firm has a market cap of $25.68 billion and a PE ratio of 32.62. Veralto has a 12-month low of $65.51 and a 12-month high of $115.00. 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, September 27th will be paid a $0.09 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.36 annualized dividend and a yield of 0.35%. Veralto’s dividend payout ratio (DPR) is 11.29%.

Insiders Place Their Bets

In other Veralto news, SVP Surekha Trivedi sold 753 shares of Veralto stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $106.72, for a total value of $80,360.16. Following the sale, the senior vice president now owns 12,671 shares of the company’s stock, valued at approximately $1,352,249.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, SVP Surekha Trivedi sold 753 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $106.72, for a total transaction of $80,360.16. Following the completion of the sale, the senior vice president now owns 12,671 shares in the company, valued at $1,352,249.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jennifer Honeycutt sold 13,191 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now owns 138,546 shares in the company, valued at approximately $15,514,381.08. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 39,039 shares of company stock valued at $4,310,335. Insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on VLTO shares. Deutsche Bank Aktiengesellschaft raised their price target on Veralto from $100.00 to $109.00 and gave the company a “hold” rating in a research note on Monday, July 29th. Robert W. Baird increased their price objective on Veralto from $98.00 to $112.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. UBS Group started coverage on Veralto in a research note on Tuesday, August 13th. They issued a “neutral” rating and a $118.00 price target for the company. Stifel Nicolaus raised their target price on shares of Veralto from $117.00 to $119.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Finally, Royal Bank of Canada upped their price objective on Veralto from $108.00 to $111.00 and gave the stock a “sector perform” rating in a research report on Friday. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $108.27.

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.