Veralto (NYSE:VLTO) Issues Earnings Results

Veralto (NYSE:VLTO) announced its earnings results on Tuesday. The company reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.08, Briefing.com reports. The business had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.23 billion. The business’s quarterly revenue was up 1.7% on a year-over-year basis.

Veralto Stock Down 4.4 %

VLTO stock traded down $4.12 on Wednesday, reaching $89.60. 1,239,718 shares of the company traded hands, compared to its average volume of 1,593,878. Veralto has a one year low of $65.51 and a one year high of $95.40. The company has a quick ratio of 1.40, a current ratio of 1.64 and a debt-to-equity ratio of 1.89. The firm has a fifty day simple moving average of $88.06 and a 200-day simple moving average of $80.05.

Veralto Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors 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 yield of 0.40%. The ex-dividend date of this dividend is Wednesday, March 27th.

Insider Activity at Veralto

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

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Citigroup increased their price objective on 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 assumed coverage on Veralto in a research report on Tuesday, February 27th. They set an “outperform” rating and a $97.00 price objective on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on Veralto in a research report on Wednesday, January 10th. They set a “hold” rating and a $79.00 price objective on the stock. Argus assumed coverage on Veralto in a research report on Tuesday, January 9th. They set a “buy” rating and a $90.00 price objective on the stock. Finally, Stifel Nicolaus increased their price objective on Veralto from $92.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock currently 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.