Veralto (NYSE:VLTO) Releases Earnings Results, Beats Expectations By $0.06 EPS

Veralto (NYSE:VLTO) announced its quarterly earnings data on Tuesday. The company reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.06, FiscalAI reports. The firm had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.41 billion. Veralto had a return on equity of 38.69% and a net margin of 16.75%.

Veralto Price Performance

VLTO stock traded down $4.20 on Tuesday, reaching $97.28. The company had a trading volume of 2,299,771 shares, compared to its average volume of 1,400,836. The company’s fifty day moving average is $100.95 and its 200 day moving average is $103.02. The company has a market cap of $24.16 billion, a P/E ratio of 26.65, a PEG ratio of 2.82 and a beta of 0.89. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.40 and a current ratio of 1.57. Veralto has a 1 year low of $83.86 and a 1 year high of $110.11.

Veralto Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 30th. Investors of record on Wednesday, December 31st were given a dividend of $0.13 per share. The ex-dividend date was Wednesday, December 31st. This represents a $0.52 annualized dividend and a dividend yield of 0.5%. This is an increase from Veralto’s previous quarterly dividend of $0.11. Veralto’s payout ratio is presently 14.25%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. BMO Capital Markets decreased their target price on shares of Veralto from $123.00 to $114.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 25th. Jefferies Financial Group reissued a “hold” rating and set a $105.00 price objective (down previously from $125.00) on shares of Veralto in a report on Wednesday, December 10th. UBS Group increased their target price on shares of Veralto from $110.00 to $112.00 and gave the company a “neutral” rating in a report on Wednesday, November 5th. Royal Bank Of Canada lifted their price target on shares of Veralto from $108.00 to $111.00 and gave the company a “sector perform” rating in a research report on Thursday, October 30th. Finally, Citigroup lowered their price target on Veralto from $112.00 to $111.00 and set a “neutral” rating on the stock in a report on Thursday, October 30th. Five equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, Veralto presently has a consensus rating of “Hold” and a consensus target price of $112.89.

Insider Buying and Selling at Veralto

In other news, SVP Mattias Bystrom sold 1,000 shares of the company’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $101.73, for a total value of $101,730.00. Following the sale, the senior vice president directly owned 31,430 shares in the company, valued at $3,197,373.90. This represents a 3.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.36% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. CIBC Bancorp USA Inc. purchased a new stake in shares of Veralto during the third quarter worth about $3,649,000. Captrust Financial Advisors boosted its position in Veralto by 18.6% during the third quarter. Captrust Financial Advisors now owns 47,039 shares of the company’s stock worth $5,015,000 after acquiring an additional 7,386 shares during the last quarter. Coldstream Capital Management Inc. boosted its position in Veralto by 7.6% during the third quarter. Coldstream Capital Management Inc. now owns 6,357 shares of the company’s stock worth $678,000 after acquiring an additional 447 shares during the last quarter. Danske Bank A S purchased a new stake in Veralto in the 3rd quarter worth approximately $17,600,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in Veralto in the 3rd quarter valued at $54,000. Institutional investors and hedge funds own 91.28% of the company’s stock.

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. This segment provides water solutions, including chemical reagents, services, and digital solutions.