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

Veralto Co. (NYSE:VLTO) declared a quarterly dividend on Wednesday, March 5th, RTT News reports. Investors of record on Monday, March 31st will be given a dividend of 0.11 per share on Wednesday, April 30th. This represents a $0.44 annualized dividend and a dividend yield of 0.45%.

Veralto has a payout ratio of 11.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Veralto to earn $3.99 per share next year, which means the company should continue to be able to cover its $0.44 annual dividend with an expected future payout ratio of 11.0%.

Veralto Price Performance

NYSE:VLTO opened at $98.66 on Thursday. The firm has a fifty day simple moving average of $100.87 and a 200 day simple moving average of $105.49. Veralto has a 1-year low of $85.90 and a 1-year high of $115.00. The stock has a market capitalization of $24.42 billion, a PE ratio of 29.54, a P/E/G ratio of 4.24 and a beta of 1.11. The company has a current ratio of 1.92, a quick ratio of 1.69 and a debt-to-equity ratio of 1.27.

Veralto (NYSE:VLTO) last posted its earnings results on Tuesday, February 4th. The company reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.05. Veralto had a return on equity of 49.29% and a net margin of 16.04%. On average, research analysts expect that Veralto will post 3.66 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on VLTO. Stifel Nicolaus reduced their price target on Veralto from $116.00 to $110.00 and set a “buy” rating on the stock in a report on Thursday, February 6th. Jefferies Financial Group started coverage on Veralto in a research note on Thursday, December 12th. They issued a “buy” rating and a $125.00 price objective on the stock. Royal Bank of Canada cut their price objective on Veralto from $111.00 to $110.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 6th. Finally, Citigroup dropped their price target on Veralto from $118.00 to $116.00 and set a “neutral” rating on the stock in a research note on Monday, January 13th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $112.55.

Insider Buying and Selling at Veralto

In related news, SVP Surekha Trivedi sold 590 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $100.35, for a total transaction of $59,206.50. Following the transaction, the senior vice president now directly owns 8,470 shares in the company, valued at $849,964.50. This trade represents a 6.51 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Melissa Aquino sold 463 shares of Veralto stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $99.60, for a total value of $46,114.80. Following the completion of the sale, the senior vice president now owns 20,761 shares in the company, valued at approximately $2,067,795.60. This represents a 2.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,467 shares of company stock valued at $1,150,366 in the last 90 days. Corporate insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Veralto stock. Brighton Jones LLC grew its holdings in shares of Veralto Co. (NYSE:VLTO) by 16.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,459 shares of the company’s stock after acquiring an additional 479 shares during the period. Brighton Jones LLC’s holdings in Veralto were worth $352,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 91.28% of the stock is owned by institutional investors.

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.