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

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

Veralto Stock Down 1.4 %

NYSE:VLTO opened at $92.40 on Thursday. 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. The firm has a 50-day simple moving average of $88.23 and a two-hundred day simple moving average of $80.13.

Veralto Announces Dividend

The company 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 dividend of $0.09 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $0.36 dividend on an annualized basis and a 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 dated Friday, February 16th. The shares were sold at an average price of $86.10, for a total transaction of $43,050.00. Following the completion of the sale, the insider now directly owns 30,310 shares in the company, valued at approximately $2,609,691. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.31% of the stock is owned by company insiders.

Analyst Ratings Changes

VLTO has been the subject of several research analyst reports. Citigroup raised their target price on shares of Veralto from $89.00 to $94.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. BMO Capital Markets initiated coverage on shares of Veralto in a research report on Tuesday, February 27th. They issued an “outperform” rating and a $97.00 target price for the company. Stifel Nicolaus raised their target price on shares of Veralto from $92.00 to $97.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Argus began coverage on shares of Veralto in a research note on Tuesday, January 9th. They issued a “buy” rating and a $90.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Veralto in a research note on Wednesday, January 10th. They issued a “hold” rating and a $79.00 price target for the company. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Veralto has an average rating of “Moderate Buy” and an average 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.