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

Veralto (NYSE:VLTO) announced 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 for the quarter, compared to analyst estimates of $1.23 billion. The business’s quarterly revenue was up 1.7% on a year-over-year basis.

Veralto Stock Performance

Shares of NYSE:VLTO traded down $1.40 during trading on Wednesday, reaching $92.32. 226,009 shares of the company traded hands, compared to its average volume of 1,582,244. The business’s fifty day moving average is $88.06 and its 200-day moving average is $80.05. Veralto has a 52-week low of $65.51 and a 52-week high of $95.40. 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 Dividend Announcement

The business also recently declared 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. This represents a $0.36 annualized dividend and a dividend yield of 0.39%. The ex-dividend date of this dividend is Wednesday, March 27th.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on VLTO shares. The Goldman Sachs Group initiated coverage on Veralto in a research report on Friday, March 22nd. They set a “buy” rating and a $104.00 target price on the stock. Citigroup lifted their price target on Veralto from $89.00 to $94.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Royal Bank of Canada upped their price objective on Veralto from $78.00 to $91.00 and gave the company a “sector perform” rating in a research report on Thursday, February 8th. BMO Capital Markets assumed coverage on Veralto in a research note on Tuesday, February 27th. They issued an “outperform” rating and a $97.00 price objective for the company. Finally, Argus assumed coverage on Veralto in a report on Tuesday, January 9th. They issued a “buy” rating and a $90.00 price target on the stock. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $93.36.

Insider Activity

In related news, insider Mattias Bystrom sold 500 shares of the business’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $86.10, for a total transaction of $43,050.00. Following the completion of the transaction, the insider now directly owns 30,310 shares of the company’s stock, valued at approximately $2,609,691. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.31% of the company’s stock.

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.