Veralto Co. (NYSE:VLTO) Plans Quarterly Dividend of $0.11

Veralto Co. (NYSE:VLTO) announced a quarterly dividend on Thursday, December 19th,RTT News reports. Investors of record on Tuesday, December 31st will be paid a dividend of 0.11 per share on Friday, January 31st. This represents a $0.44 dividend on an annualized basis and a yield of 0.43%. This is a boost from Veralto’s previous quarterly dividend of $0.09.

Veralto has a payout ratio of 9.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Veralto to earn $3.71 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 9.7%.

Veralto Stock Up 0.1 %

Shares of NYSE VLTO opened at $101.33 on Friday. Veralto has a 12 month low of $73.91 and a 12 month high of $115.00. The company has a current ratio of 2.13, a quick ratio of 1.87 and a debt-to-equity ratio of 1.35. The firm has a market capitalization of $25.06 billion, a price-to-earnings ratio of 31.27, a PEG ratio of 4.30 and a beta of 0.91. The business has a 50-day moving average of $106.27 and a 200-day moving average of $105.35.

Veralto (NYSE:VLTO) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.04. The business had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.30 billion. Veralto had a return on equity of 52.85% and a net margin of 15.69%. Veralto’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period last year, the company earned $0.75 EPS. Sell-side analysts expect that Veralto will post 3.48 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on VLTO. Stifel Nicolaus cut their price target on Veralto from $119.00 to $117.00 and set a “buy” rating on the stock in a research note on Wednesday, December 11th. BMO Capital Markets boosted their target price on shares of Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a report on Monday, September 30th. Jefferies Financial Group started coverage on shares of Veralto in a research report on Thursday, December 12th. They set a “buy” rating and a $125.00 target price on the stock. Finally, Royal Bank of Canada upped their target price on Veralto from $108.00 to $111.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $109.50.

Insider Buying and Selling at Veralto

In other Veralto news, SVP Surekha Trivedi sold 753 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $112.55, for a total value of $84,750.15. Following the sale, the senior vice president now directly owns 11,165 shares of the company’s stock, valued at approximately $1,256,620.75. This trade represents a 6.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jennifer Honeycutt sold 13,190 shares of the business’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $110.15, for a total transaction of $1,452,878.50. Following the sale, the chief executive officer now directly owns 138,546 shares of the company’s stock, valued at $15,260,841.90. This represents a 8.69 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,695 shares of company stock worth $1,615,017. 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.