Veralto (NYSE:VLTO) Posts Quarterly Earnings Results, Beats Expectations By $0.08 EPS

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

Veralto Stock Performance

VLTO stock traded down $4.13 during midday trading on Wednesday, reaching $89.59. The company’s stock had a trading volume of 1,053,172 shares, compared to its average volume of 1,591,505. The business’s 50-day simple moving average is $88.06 and its 200-day simple moving average is $80.05. 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 has a 52 week low of $65.51 and a 52 week high of $95.40.

Veralto Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be issued 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%.

Insider Buying and Selling at Veralto

In other Veralto news, insider Mattias Bystrom sold 500 shares of the stock in a transaction dated 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 of the company’s stock, valued at $2,609,691. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

VLTO has been the subject of a number of research analyst reports. BNP Paribas began coverage on shares of Veralto in a research note on Tuesday, March 12th. They issued an “outperform” rating and a $103.00 target price for the company. Citigroup lifted their price objective on Veralto from $89.00 to $94.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Stifel Nicolaus increased their target price on Veralto from $92.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. Royal Bank of Canada lifted their price target on Veralto from $78.00 to $91.00 and gave the company a “sector perform” rating in a report on Thursday, February 8th. Finally, Argus began coverage on shares of Veralto in a research report on Tuesday, January 9th. They issued a “buy” rating and a $90.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $93.36.

Veralto Company Profile

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.