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

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

Veralto has a dividend payout ratio of 10.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Veralto to earn $3.55 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 10.1%.

Veralto Stock Down 0.9 %

NYSE VLTO traded down $0.90 on Thursday, reaching $99.86. 1,174,098 shares of the stock were exchanged, compared to its average volume of 1,551,344. Veralto has a one year low of $65.51 and a one year high of $101.05. The company's 50-day simple moving average is $91.91 and its two-hundred day simple moving average is $83.64. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.83 and a quick ratio of 1.56.

Veralto (NYSE:VLTO - Get Free Report) last released its earnings results on Tuesday, April 23rd. The company reported $0.84 EPS for the quarter, topping analysts' consensus estimates of $0.76 by $0.08. The firm had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.23 billion. The business's revenue for the quarter was up 1.7% on a year-over-year basis. As a group, sell-side analysts expect that Veralto will post 3.34 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Veralto news, SVP Melissa Aquino sold 8,041 shares of the company's 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 sale, the senior vice president now owns 20,761 shares in the company, valued at approximately $1,942,399.16. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.31% of the company's stock.

Analysts Set New Price Targets

VLTO has been the topic of several recent analyst reports. Citigroup lifted their price objective on shares of Veralto from $89.00 to $94.00 and gave the company a "neutral" rating in a research report on Monday, April 8th. BMO Capital Markets lifted their price objective on shares of Veralto from $97.00 to $101.00 and gave the stock an "outperform" rating in a research note on Thursday, April 25th. Stifel Nicolaus lifted their price objective 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. Robert W. Baird lifted their price objective on shares of Veralto from $90.00 to $98.00 and gave the stock a "neutral" rating in a research note on Thursday, April 25th. Finally, BNP Paribas assumed coverage on shares of Veralto in a research note on Tuesday, March 12th. They set an "outperform" rating and a $103.00 target price for the company. Five investment 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, the company presently has an average rating of "Moderate Buy" and an average price target of $95.18.

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.