Veralto (NYSE:VLTO) Releases Earnings Results, Beats Estimates By $0.09 EPS

Key Points

• Veralto beat quarterly earnings expectations: EPS was $1.18 versus the $1.09 consensus, while revenue reached $1.51 billion, slightly above estimates of $1.50 billion.
• Shares rose 0.9% to $103.73 following the results. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $112.60.
• The company announced a quarterly dividend of $0.13 per share, equal to an annualized $0.52 payout and a 0.5% yield; CEO Jennifer Honeycutt also sold shares under a pre-arranged Rule 10b5-1 plan.

Veralto (NYSE:VLTO - Get Free Report) announced its quarterly earnings results on Thursday. The company reported $1.18 EPS for the quarter, beating analysts' consensus estimates of $1.09 by $0.09, FiscalAI reports. Veralto had a return on equity of 34.76% and a net margin of 17.35%. The company had revenue of $1.51 billion during the quarter, compared to analysts' expectations of $1.50 billion.

Veralto Trading Up 0.9%

VLTO traded up $0.93 during midday trading on Thursday, hitting $103.73. 1,969,641 shares of the company were exchanged, compared to its average volume of 1,960,484. The firm has a market capitalization of $25.29 billion, a P/E ratio of 26.19, a P/E/G ratio of 2.96 and a beta of 0.62. Veralto has a 1-year low of $80.03 and a 1-year high of $105.61. The firm's 50 day moving average price is $97.91 and its 200-day moving average price is $93.08. The company has a quick ratio of 1.61, a current ratio of 1.78 and a debt-to-equity ratio of 0.86.

Veralto Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Wednesday, September 30th will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Wednesday, September 30th. Veralto's dividend payout ratio (DPR) is currently 13.13%.

Insider Transactions at Veralto

In other news, CEO Jennifer Honeycutt sold 7,098 shares of the stock in a transaction dated Friday, October 23rd. The stock was sold at an average price of $105.00, for a total value of $745,290.00. Following the completion of the sale, the chief executive officer owned 120,060 shares of the company's stock, valued at approximately $12,606,300. This represents a 5.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Surekha Trivedi sold 986 shares of the stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $97.05, for a total value of $95,691.30. Following the completion of the sale, the senior vice president directly owned 8,565 shares of the company's stock, valued at approximately $831,233.25. The trade was a 10.32% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.43% of the company's stock.

Analyst Upgrades and Downgrades

VLTO has been the topic of a number of research reports. Jefferies Financial Group upgraded Veralto to a "strong-buy" rating in a research report on Monday, October 12th. BNP Paribas Exane reiterated an "outperform" rating and issued a $120.00 target price (up from $115.00) on shares of Veralto in a research report on Thursday, July 30th. UBS Group lifted their price target on Veralto from $104.00 to $106.00 and gave the company a "neutral" rating in a research note on Monday, October 5th. Royal Bank Of Canada boosted their price target on Veralto from $100.00 to $109.00 and gave the stock a "sector perform" rating in a report on Thursday, July 30th. Finally, Weiss Ratings raised Veralto from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, October 19th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Veralto has an average rating of "Moderate Buy" and an average target price of $112.60.

Veralto Company Profile

Veralto Corporation NYSE: VLTO is a global provider of technology, products and services that help customers manage water quality and improve the quality, safety and efficiency of packaged goods. The company serves municipal, industrial, commercial and consumer-facing markets through a portfolio of operating businesses.

Veralto's Water Quality segment provides instruments, software and services used to test, monitor and treat water and wastewater. Its brands include Hach, Trojan Technologies and ChemTreat, which support applications such as laboratory and field testing, disinfection, water treatment and industrial water management.

The company's Product Quality & Innovation segment supplies technologies used in product identification, packaging design, color management and quality inspection.

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