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

Veralto (NYSE:VLTO) released its quarterly earnings data on Tuesday. The company reported $0.84 EPS for the quarter, topping 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 analysts’ expectations of $1.23 billion. The business’s revenue was up 1.7% on a year-over-year basis.

Veralto Trading Down 0.4 %

Shares of VLTO stock traded down $0.41 during midday trading on Friday, reaching $93.38. 109,030 shares of the company traded hands, compared to its average volume of 1,607,172. Veralto has a 1-year low of $65.51 and a 1-year high of $95.40. The firm’s 50 day simple moving average is $88.37 and its two-hundred day simple moving average is $80.23. The company has a debt-to-equity ratio of 1.89, a current ratio of 1.64 and a quick ratio of 1.40.

Veralto Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.39%. The ex-dividend date is Wednesday, March 27th.

Wall Street Analyst Weigh In

VLTO has been the topic of a number of recent analyst reports. Citigroup increased their price target on shares of Veralto from $89.00 to $94.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Royal Bank of Canada boosted their target price on shares of Veralto from $78.00 to $91.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 8th. Stifel Nicolaus boosted their price objective on Veralto from $92.00 to $97.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. Argus assumed coverage on shares of Veralto in a research note on Tuesday, January 9th. They issued a “buy” rating and a $90.00 price target on the stock. Finally, Robert W. Baird lifted their price target on Veralto from $90.00 to $98.00 and gave the stock a “neutral” rating in a report on Thursday. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Veralto has a consensus rating of “Moderate Buy” and a consensus price target of $95.18.

Insider Activity at Veralto

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

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.