Veralto (NYSE:VLTO) Posts Earnings Results, Beats Estimates By $0.08 EPS

Veralto (NYSE:VLTO) announced its quarterly earnings data 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 during the quarter, compared to analyst estimates of $1.23 billion. The company’s revenue for the quarter was up 1.7% compared to the same quarter last year.

Veralto Trading Down 4.4 %

Shares of VLTO stock traded down $4.13 during trading hours on Wednesday, hitting $89.59. 1,053,172 shares of the company were exchanged, compared to its average volume of 1,591,505. The firm has a fifty day moving average of $88.06 and a 200 day moving average of $80.05. The company has a current ratio of 1.64, a quick ratio of 1.40 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 paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date of this dividend is Wednesday, March 27th.

Insider Activity at Veralto

In other news, insider Mattias Bystrom sold 500 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $86.10, for a total transaction of $43,050.00. Following the completion of the sale, the insider now directly owns 30,310 shares in the company, valued at approximately $2,609,691. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.31% of the stock is owned by insiders.

Analysts Set New Price Targets

VLTO has been the subject of a number of research reports. BMO Capital Markets began coverage on shares of Veralto in a research report on Tuesday, February 27th. They set an “outperform” rating and a $97.00 price target for the company. BNP Paribas initiated coverage on Veralto in a report on Tuesday, March 12th. They set an “outperform” rating and a $103.00 price objective for the company. Deutsche Bank Aktiengesellschaft assumed coverage on Veralto in a research report on Wednesday, January 10th. They set a “hold” rating and a $79.00 target price on the stock. Royal Bank of Canada raised their price target on Veralto from $78.00 to $91.00 and gave the company a “sector perform” rating in a research report on Thursday, February 8th. Finally, Citigroup boosted their price objective on shares of Veralto from $89.00 to $94.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $93.36.

About Veralto

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.