Veralto Co. (VLTO) To Go Ex-Dividend on December 31st

Veralto Co. (NYSE:VLTO) declared a quarterly dividend on Thursday, December 19th,RTT News reports. Shareholders of record on Tuesday, December 31st will be given a dividend of 0.11 per share on Friday, January 31st. This represents a $0.44 annualized dividend and a yield of 0.42%. The ex-dividend date is Tuesday, December 31st. This is a boost from Veralto’s previous quarterly dividend of $0.09.

Veralto has a payout ratio of 9.6% indicating that its dividend is sufficiently covered by earnings. 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 Trading Up 2.9 %

Shares of VLTO stock opened at $104.25 on Friday. Veralto has a 1 year low of $73.91 and a 1 year high of $115.00. The firm has a fifty day moving average price of $106.09 and a 200-day moving average price of $105.39. The company has a market cap of $25.78 billion, a price-to-earnings ratio of 32.18, a PEG ratio of 4.30 and a beta of 0.91. The company has a debt-to-equity ratio of 1.35, a current ratio of 2.13 and a quick ratio of 1.87.

Veralto (NYSE:VLTO) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.04. Veralto had a return on equity of 52.85% and a net margin of 15.69%. The company had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same period in the previous year, the company posted $0.75 EPS. The firm’s revenue was up 4.7% on a year-over-year basis. As a group, equities analysts predict that Veralto will post 3.48 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Royal Bank of Canada upped their target price on shares of Veralto from $108.00 to $111.00 and gave the company a “sector perform” rating in a research report on Friday, October 25th. 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 for the company. Stifel Nicolaus cut their target price on Veralto from $119.00 to $117.00 and set a “buy” rating on the stock in a research report on Wednesday, December 11th. Finally, BMO Capital Markets lifted their price objective on shares of Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a research note on Monday, September 30th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $109.50.

Insider Transactions at Veralto

In other Veralto news, CEO Jennifer Honeycutt sold 13,190 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The shares were 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 owns 138,546 shares of the company’s stock, valued at approximately $15,260,841.90. The trade was a 8.69 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Surekha Trivedi sold 753 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $112.55, for a total transaction of $84,750.15. Following the completion of the transaction, the senior vice president now directly owns 11,165 shares of the company’s stock, valued at approximately $1,256,620.75. This represents a 6.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 14,695 shares of company stock valued at $1,615,017 in the last quarter. 0.31% of the stock is currently owned by corporate insiders.

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.