Veralto (NYSE:VLTO) Releases Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Veralto (NYSE:VLTO - Get Free Report) announced its earnings results on Wednesday. The company reported $0.89 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.85 by $0.04, Briefing.com reports. The business had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.30 billion. Veralto had a net margin of 15.60% and a return on equity of 58.82%. Veralto's revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.75 earnings per share.

Veralto Price Performance

Veralto stock traded down $1.74 during trading hours on Friday, hitting $104.05. 1,534,222 shares of the stock were exchanged, compared to its average volume of 1,556,290. Veralto has a 12 month low of $65.51 and a 12 month high of $115.00. The business's 50-day moving average is $110.91 and its two-hundred day moving average is $102.60. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.70 and a current ratio of 1.96. The stock has a market capitalization of $25.68 billion and a P/E ratio of 32.67.

Veralto Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, September 27th will be given a $0.09 dividend. The ex-dividend date is Friday, September 27th. This represents a $0.36 dividend on an annualized basis and a yield of 0.35%. Veralto's dividend payout ratio (DPR) is presently 11.29%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. The Goldman Sachs Group lifted their target price on Veralto from $104.00 to $116.00 and gave the stock a "buy" rating in a research report on Monday, July 29th. TD Cowen boosted their price objective on Veralto from $95.00 to $100.00 and gave the company a "hold" rating in a research report on Tuesday, July 30th. BMO Capital Markets raised their target price on Veralto from $117.00 to $119.00 and gave the stock an "outperform" rating in a research report on Monday, September 30th. Robert W. Baird boosted their price target on shares of Veralto from $98.00 to $112.00 and gave the company a "neutral" rating in a report on Monday, July 29th. Finally, Stifel Nicolaus raised their price objective on shares of Veralto from $117.00 to $119.00 and gave the stock a "buy" rating in a report on Wednesday, October 16th. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Veralto currently has an average rating of "Hold" and an average target price of $108.27.

Insider Transactions at Veralto

In related news, SVP Mattias Bystrom sold 3,000 shares of the company's stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $105.89, for a total transaction of $317,670.00. Following the transaction, the senior vice president now owns 31,045 shares in the company, valued at $3,287,355.05. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Surekha Trivedi sold 753 shares of the firm's stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $106.72, for a total value of $80,360.16. Following the transaction, the senior vice president now owns 12,671 shares in the company, valued at $1,352,249.12. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Mattias Bystrom sold 3,000 shares of the company's stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $105.89, for a total transaction of $317,670.00. Following the transaction, the senior vice president now owns 31,045 shares in the company, valued at approximately $3,287,355.05. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 39,039 shares of company stock valued at $4,310,335 in the last three months. 0.31% of the stock is owned by corporate 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.

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