Veralto Co. (VLTO) To Go Ex-Dividend on September 27th

Veralto Co. (NYSE:VLTO) declared a quarterly dividend on Wednesday, September 25th, Wall Street Journal reports. Shareholders of record on Friday, September 27th will be paid a dividend of 0.09 per share on Thursday, October 31st. This represents a $0.36 annualized dividend and a yield of 0.32%. The ex-dividend date is Friday, September 27th.

Veralto has a payout ratio of 9.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Veralto to earn $3.65 per share next year, which means the company should continue to be able to cover its $0.36 annual dividend with an expected future payout ratio of 9.9%.

Veralto Stock Performance

Shares of Veralto stock traded down $0.36 during trading on Wednesday, hitting $111.04. 951,014 shares of the stock were exchanged, compared to its average volume of 1,568,773. Veralto has a 12 month low of $65.51 and a 12 month high of $112.77. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.70 and a current ratio of 1.96. The stock has a market cap of $27.44 billion and a PE ratio of 33.31. The stock’s fifty day moving average is $107.40 and its 200 day moving average is $99.18.

Veralto (NYSE:VLTO) last posted its quarterly earnings data on Thursday, July 25th. The company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.05. Veralto had a net margin of 15.60% and a return on equity of 58.82%. The business had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the prior year, the company posted $0.80 earnings per share. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Veralto will post 3.45 EPS for the current year.

Insider Buying and Selling at Veralto

In other news, CEO Jennifer Honeycutt sold 13,191 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $111.98, for a total value of $1,477,128.18. Following the completion of the transaction, the chief executive officer now owns 138,546 shares of the company’s stock, valued at approximately $15,514,381.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Veralto news, CEO Jennifer Honeycutt sold 13,191 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $111.98, for a total value of $1,477,128.18. Following the sale, the chief executive officer now owns 138,546 shares in the company, valued at approximately $15,514,381.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Surekha Trivedi sold 753 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $106.72, for a total transaction of $80,360.16. Following the transaction, the senior vice president now owns 12,671 shares of the company’s stock, valued at approximately $1,352,249.12. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 25,096 shares of company stock valued at $2,772,707. 0.31% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. TD Cowen boosted their target price on Veralto from $95.00 to $100.00 and gave the stock a “hold” rating in a research report on Tuesday, July 30th. The Goldman Sachs Group upped their target price on Veralto from $104.00 to $116.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Veralto from $100.00 to $109.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. UBS Group began coverage on Veralto in a report on Tuesday, August 13th. They set a “neutral” rating and a $118.00 price target on the stock. Finally, Royal Bank of Canada upped their price objective on shares of Veralto from $101.00 to $108.00 and gave the stock a “sector perform” rating in a report on Monday, July 29th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Veralto currently has a consensus rating of “Moderate Buy” and an average target price of $104.46.

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.