Veralto (NYSE:VLTO) Announces Quarterly Earnings Results

Veralto (NYSE:VLTO - Get Free Report) posted its quarterly earnings results on Tuesday. The company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.76 by $0.08, Briefing.com reports. The company had revenue of $1.25 billion for the quarter, compared to analysts' expectations of $1.23 billion. The business's quarterly revenue was up 1.7% on a year-over-year basis.

Veralto Stock Down 1.4 %

Shares of VLTO traded down $1.32 during trading hours on Wednesday, reaching $92.40. 3,344,383 shares of the company traded hands, compared to its average volume of 1,622,528. The stock's fifty day moving average is $88.23 and its 200 day moving average is $80.13. The company has a quick ratio of 1.40, a current ratio of 1.64 and a debt-to-equity ratio of 1.89. Veralto has a 1-year low of $65.51 and a 1-year high of $95.40.

Veralto Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date of this dividend is Wednesday, March 27th.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Royal Bank of Canada upped their price objective on shares of Veralto from $78.00 to $91.00 and gave the stock a "sector perform" rating in a report on Thursday, February 8th. BMO Capital Markets assumed coverage on shares of Veralto in a report on Tuesday, February 27th. They issued an "outperform" rating and a $97.00 price objective for the company. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Veralto in a report on Wednesday, January 10th. They issued a "hold" rating and a $79.00 price objective for the company. The Goldman Sachs Group started coverage on shares of Veralto in a report on Friday, March 22nd. They issued a "buy" rating and a $104.00 price objective for the company. Finally, Stifel Nicolaus boosted their target price on shares of Veralto from $92.00 to $97.00 and gave the stock a "buy" rating in a research report on Wednesday, April 17th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $93.36.

Insider Activity

In other news, insider Mattias Bystrom sold 500 shares of the company's stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $86.10, for a total transaction of $43,050.00. Following the completion of the transaction, the insider now owns 30,310 shares of the company's stock, valued at $2,609,691. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.31% of the stock is owned by company insiders.

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.