Veralto (VLTO) to Release Earnings on Tuesday

Veralto (NYSE:VLTO) is scheduled to be releasing its earnings data after the market closes on Tuesday, April 23rd. Analysts expect Veralto to post earnings of $0.76 per share for the quarter. Individual interested in listening to the company’s earnings conference call can do so using this link.

Veralto (NYSE:VLTO) last released its quarterly earnings data on Tuesday, February 6th. The company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.07. The business had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.25 billion. Veralto’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.80 EPS. On average, analysts expect Veralto to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Veralto Stock Performance

NYSE:VLTO opened at $88.89 on Monday. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.40 and a current ratio of 1.64. The stock’s 50 day moving average price is $87.68 and its two-hundred day moving average price is $79.82. Veralto has a 12-month low of $65.51 and a 12-month high of $92.15.

Veralto Announces Dividend

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 paid a $0.09 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $0.36 annualized dividend and a yield of 0.40%.

Insiders Place Their Bets

In other Veralto news, insider Mattias Bystrom sold 500 shares of the firm’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 transaction, the insider now owns 30,310 shares in the company, valued at approximately $2,609,691. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Veralto

A number of large investors have recently modified their holdings of VLTO. Studio Investment Management LLC acquired a new stake in shares of Veralto in the 4th quarter valued at $25,000. Harbour Investments Inc. acquired a new stake in shares of Veralto during the 4th quarter valued at $29,000. Advisory Services Network LLC acquired a new stake in shares of Veralto during the 4th quarter valued at $146,000. Woodley Farra Manion Portfolio Management Inc. acquired a new stake in shares of Veralto during the 4th quarter valued at $202,000. Finally, Buckingham Strategic Wealth LLC acquired a new stake in shares of Veralto during the 4th quarter valued at $203,000. Institutional investors and hedge funds own 91.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. BMO Capital Markets assumed coverage on Veralto in a research note on Tuesday, February 27th. They issued an “outperform” rating and a $97.00 price objective on the stock. Royal Bank of Canada increased their target price on 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 increased their target price on Veralto from $92.00 to $97.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. BNP Paribas started coverage on Veralto in a research note on Tuesday, March 12th. They set an “outperform” rating and a $103.00 target price on the stock. Finally, Argus started coverage on Veralto in a research note on Tuesday, January 9th. They set a “buy” rating and a $90.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.