Veralto (NYSE:VLTO) Posts Quarterly Earnings Results, Beats Estimates By $0.09 EPS

Veralto (NYSE:VLTO) issued its quarterly earnings results on Thursday. The company reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.09, FiscalAI reports. The business had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.50 billion. Veralto had a return on equity of 34.76% and a net margin of 17.35%. The firm’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.99 earnings per share.

Veralto Price Performance

Veralto stock opened at $103.73 on Friday. The stock has a 50-day moving average price of $97.98 and a two-hundred day moving average price of $93.08. Veralto has a 12 month low of $80.03 and a 12 month high of $105.61. The company has a market capitalization of $25.29 billion, a PE ratio of 26.19, a P/E/G ratio of 2.91 and a beta of 0.62. The company has a current ratio of 1.78, a quick ratio of 1.61 and a debt-to-equity ratio of 0.86.

Veralto Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Wednesday, September 30th will be given a $0.13 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $0.52 annualized dividend and a yield of 0.5%. Veralto’s dividend payout ratio (DPR) is currently 13.13%.

Insider Activity at Veralto

In related news, SVP Surekha Trivedi sold 986 shares of Veralto stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $97.05, for a total transaction of $95,691.30. Following the sale, the senior vice president directly owned 8,565 shares in the company, valued at $831,233.25. This trade represents a 10.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jennifer Honeycutt sold 7,098 shares of Veralto stock in a transaction on Friday, October 23rd. The stock was sold at an average price of $105.00, for a total transaction of $745,290.00. Following the transaction, the chief executive officer owned 120,060 shares in the company, valued at approximately $12,606,300. This trade represents a 5.58% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.43% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Jefferies Financial Group upgraded shares of Veralto to a “strong-buy” rating in a research report on Monday, October 12th. BNP Paribas Exane reiterated an “outperform” rating and issued a $120.00 target price (up from $115.00) on shares of Veralto in a research report on Thursday, July 30th. Barclays boosted their target price on Veralto from $113.00 to $117.00 and gave the stock an “overweight” rating in a research note on Thursday, July 30th. Royal Bank Of Canada increased their target price on shares of Veralto from $100.00 to $109.00 and gave the stock a “sector perform” rating in a report on Thursday, July 30th. Finally, UBS Group raised their price target on shares of Veralto from $104.00 to $106.00 and gave the company a “neutral” rating in a research note on Monday, October 5th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Veralto currently has an average rating of “Moderate Buy” and an average target price of $112.60.

About Veralto

Veralto Corporation (NYSE: VLTO) is a global provider of technology, products and services that help customers manage water quality and improve the quality, safety and efficiency of packaged goods. The company serves municipal, industrial, commercial and consumer-facing markets through a portfolio of operating businesses.

Veralto’s Water Quality segment provides instruments, software and services used to test, monitor and treat water and wastewater. Its brands include Hach, Trojan Technologies and ChemTreat, which support applications such as laboratory and field testing, disinfection, water treatment and industrial water management.

The company’s Product Quality & Innovation segment supplies technologies used in product identification, packaging design, color management and quality inspection.