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

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

Veralto Stock Performance

Shares of VLTO stock opened at $92.40 on Thursday. The stock’s fifty day moving average is $88.23 and its two-hundred day moving average is $80.13. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.40 and a current ratio of 1.64. Veralto has a fifty-two week low of $65.51 and a fifty-two week high of $95.40.

Veralto Dividend Announcement

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

Insider Buying and Selling at Veralto

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 value of $43,050.00. Following the transaction, the insider now owns 30,310 shares in the company, valued at approximately $2,609,691. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.31% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. BNP Paribas assumed coverage on Veralto in a research report on Tuesday, March 12th. They issued an “outperform” rating and a $103.00 price objective on the stock. Citigroup upped their price objective on Veralto from $89.00 to $94.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Deutsche Bank Aktiengesellschaft assumed coverage on Veralto in a research report on Wednesday, January 10th. They issued 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 issued a “buy” rating and a $90.00 price objective on the stock. Finally, The Goldman Sachs Group assumed coverage on Veralto in a research report on Friday, March 22nd. They issued a “buy” rating and a $104.00 price objective on the stock. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price 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.