Veralto Co. (NYSE:VLTO) Plans $0.11 Quarterly Dividend

Veralto Co. (NYSE:VLTO - Get Free Report) declared a quarterly dividend on Wednesday, March 5th, RTT News reports. Shareholders of record on Monday, March 31st will be paid a dividend of 0.11 per share on Wednesday, April 30th. This represents a $0.44 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date of this dividend is Monday, March 31st.

Veralto has a dividend payout ratio of 11.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Veralto to earn $3.99 per share next year, which means the company should continue to be able to cover its $0.44 annual dividend with an expected future payout ratio of 11.0%.

Veralto Stock Performance

NYSE VLTO traded up $2.21 during trading hours on Friday, reaching $100.16. The company's stock had a trading volume of 1,444,812 shares, compared to its average volume of 1,460,914. The company has a current ratio of 1.92, a quick ratio of 1.69 and a debt-to-equity ratio of 1.27. The business has a 50-day simple moving average of $100.69 and a 200 day simple moving average of $105.34. Veralto has a 52 week low of $85.90 and a 52 week high of $115.00. The stock has a market cap of $24.79 billion, a PE ratio of 29.99, a PEG ratio of 4.24 and a beta of 1.11.

Veralto (NYSE:VLTO - Get Free Report) last issued its earnings results on Tuesday, February 4th. The company reported $0.95 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.90 by $0.05. Veralto had a net margin of 16.04% and a return on equity of 49.29%. Equities research analysts predict that Veralto will post 3.66 earnings per share for the current fiscal year.

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Insider Buying and Selling

In other Veralto news, SVP Melissa Aquino sold 463 shares of Veralto stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $99.60, for a total value of $46,114.80. Following the transaction, the senior vice president now owns 20,761 shares in the company, valued at approximately $2,067,795.60. The trade was a 2.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jennifer Honeycutt sold 10,414 shares of Veralto stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $100.35, for a total transaction of $1,045,044.90. Following the completion of the transaction, the chief executive officer now owns 104,496 shares in the company, valued at approximately $10,486,173.60. This trade represents a 9.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,467 shares of company stock valued at $1,150,366 over the last quarter. Corporate insiders own 0.31% of the company's stock.

Hedge Funds Weigh In On Veralto

A hedge fund recently raised its stake in Veralto stock. Brighton Jones LLC grew its stake in shares of Veralto Co. (NYSE:VLTO - Free Report) by 16.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,459 shares of the company's stock after acquiring an additional 479 shares during the period. Brighton Jones LLC's holdings in Veralto were worth $352,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 91.28% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on VLTO shares. Stifel Nicolaus cut their price target on Veralto from $116.00 to $110.00 and set a "buy" rating on the stock in a report on Thursday, February 6th. Royal Bank of Canada cut their price target on Veralto from $111.00 to $110.00 and set a "sector perform" rating on the stock in a report on Thursday, February 6th. Jefferies Financial Group started coverage on Veralto in a report on Thursday, December 12th. They set a "buy" rating and a $125.00 price target on the stock. Finally, Citigroup cut their price target on Veralto from $118.00 to $116.00 and set a "neutral" rating on the stock in a report on Monday, January 13th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $112.55.

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.