Veralto (NYSE:VLTO – Get Free Report) posted its earnings results on Thursday. The company reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.09, FiscalAI reports. The company had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.50 billion. Veralto had a return on equity of 34.76% and a net margin of 17.35%.
Veralto Trading Up 0.9%
Shares of VLTO stock traded up $0.93 during trading hours 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 fifty day moving average of $97.91 and a 200 day moving average of $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 has a 1 year low of $80.03 and a 1 year high of $105.61. The firm has a market cap of $25.29 billion, a PE ratio of 26.19, a PEG ratio of 2.96 and a beta of 0.62.
Veralto Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Wednesday, September 30th will be issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Wednesday, September 30th. Veralto’s dividend payout ratio is presently 13.13%.
Wall Street Analysts Forecast Growth
VLTO has been the subject of several research reports. Barclays lifted their price target on Veralto from $113.00 to $117.00 and gave the stock an “overweight” rating in a research note on Thursday, July 30th. Stifel Nicolaus set a $113.00 target price on shares of Veralto in a report on Monday, October 19th. Wolfe Research began coverage on shares of Veralto in a research report on Tuesday, September 15th. They set an “outperform” rating and a $125.00 target price for the company. Robert W. Baird set a $111.00 price target on shares of Veralto in a report on Thursday, July 30th. Finally, Wall Street Zen downgraded Veralto from a “buy” rating to a “hold” rating in a research report on Saturday, October 24th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Veralto presently has a consensus rating of “Moderate Buy” and an average target price of $112.60.
Get Our Latest Analysis on VLTO
Insider Buying and Selling
In other Veralto news, SVP Surekha Trivedi sold 986 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $97.05, for a total transaction of $95,691.30. Following the transaction, the senior vice president owned 8,565 shares of the company’s stock, valued at $831,233.25. This trade represents a 10.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jennifer Honeycutt sold 7,098 shares of Veralto stock in a transaction on Friday, October 23rd. The shares were sold at an average price of $105.00, for a total transaction of $745,290.00. Following the completion of the transaction, the chief executive officer owned 120,060 shares in the company, valued at approximately $12,606,300. This trade represents a 5.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.43% of the stock is currently owned by insiders.
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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