Veralto Co. (NYSE:VLTO) to Issue $0.09 Quarterly Dividend

Veralto Co. (NYSE:VLTO) announced a quarterly dividend on Wednesday, September 25th, Wall Street Journal reports. Stockholders of record on Friday, September 27th will be paid a dividend of 0.09 per share on Thursday, October 31st. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.32%. The ex-dividend date is Friday, September 27th.

Veralto has a payout ratio of 9.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Veralto to earn $3.65 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 Down 0.3 %

Shares of Veralto stock traded down $0.36 during trading on Wednesday, reaching $111.04. The stock had a trading volume of 976,477 shares, compared to its average volume of 1,568,911. The company has a market capitalization of $27.44 billion and a price-to-earnings ratio of 33.31. The stock has a fifty day moving average price of $107.40 and a two-hundred day moving average price of $99.18. Veralto has a 52 week low of $65.51 and a 52 week high of $112.77. The company has a current ratio of 1.96, a quick ratio of 1.70 and a debt-to-equity ratio of 1.56.

Veralto (NYSE:VLTO) last issued its quarterly earnings results on Thursday, July 25th. The company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.05. The company had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.28 billion. Veralto had a return on equity of 58.82% and a net margin of 15.60%. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.80 earnings per share. Sell-side analysts predict that Veralto will post 3.45 EPS for the current fiscal year.

Insider Activity at Veralto

In related news, CEO Jennifer Honeycutt sold 13,191 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $111.98, for a total value of $1,477,128.18. Following the completion of the sale, the chief executive officer now directly owns 138,546 shares in the company, valued at $15,514,381.08. The sale was disclosed in a filing with the SEC, which is available at this link. In other Veralto news, CEO Jennifer Honeycutt sold 13,191 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $111.98, for a total transaction of $1,477,128.18. Following the completion of the sale, the chief executive officer now directly owns 138,546 shares in the company, valued at $15,514,381.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Mattias Bystrom sold 3,000 shares of the company’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $105.89, for a total value of $317,670.00. Following the sale, the senior vice president now owns 31,045 shares of the company’s stock, valued at $3,287,355.05. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,096 shares of company stock worth $2,772,707. Company insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on VLTO. Robert W. Baird lifted their target price on Veralto from $98.00 to $112.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft lifted their target price on Veralto from $100.00 to $109.00 and gave the company a “hold” rating in a research report on Monday, July 29th. UBS Group began coverage on Veralto in a research report on Tuesday, August 13th. They issued a “neutral” rating and a $118.00 target price on the stock. Royal Bank of Canada lifted their target price on Veralto from $101.00 to $108.00 and gave the company a “sector perform” rating in a research report on Monday, July 29th. Finally, Stifel Nicolaus boosted their price target on Veralto from $110.00 to $117.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Veralto has an average rating of “Moderate Buy” and a consensus target price of $104.46.

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.