Veralto Co. (VLTO) To Go Ex-Dividend on September 27th

Veralto Co. (NYSE:VLTO) declared a quarterly dividend on Wednesday, September 25th, Wall Street Journal reports. Investors of record on Friday, September 27th will be given a dividend of 0.09 per share on Thursday, October 31st. This represents a $0.36 annualized dividend and a yield of 0.32%. The ex-dividend date of this dividend is Friday, September 27th.

Veralto has a dividend payout ratio of 9.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Veralto to earn $3.65 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 9.9%.

Veralto Stock Down 0.3 %

VLTO stock traded down $0.36 during mid-day trading on Wednesday, hitting $111.04. The stock had a trading volume of 976,477 shares, compared to its average volume of 1,568,911. The company has a current ratio of 1.96, a quick ratio of 1.70 and a debt-to-equity ratio of 1.56. Veralto has a 1-year low of $65.51 and a 1-year high of $112.77. The company has a fifty day moving average of $107.40 and a 200 day moving average of $99.18. The stock has a market capitalization of $27.44 billion and a price-to-earnings ratio of 33.31.

Veralto (NYSE:VLTO) last issued its quarterly earnings data on Thursday, July 25th. The company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.05. The business had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.28 billion. Veralto had a return on equity of 58.82% and a net margin of 15.60%. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.80 EPS. On average, equities analysts expect that Veralto will post 3.45 EPS for the current fiscal year.

Insider Transactions at Veralto

In other news, SVP Surekha Trivedi sold 753 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $111.10, for a total value of $83,658.30. Following the transaction, the senior vice president now directly owns 11,918 shares in the company, valued at approximately $1,324,089.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Jennifer Honeycutt sold 13,191 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $111.98, for a total value of $1,477,128.18. Following the transaction, the chief executive officer now directly owns 138,546 shares in the company, valued at approximately $15,514,381.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Surekha Trivedi sold 753 shares of Veralto stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $111.10, for a total value of $83,658.30. Following the transaction, the senior vice president now owns 11,918 shares in the company, valued at $1,324,089.80. The disclosure for this sale can be found here. Insiders have sold 25,096 shares of company stock worth $2,772,707 in the last three months. Insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. TD Cowen increased their target price on Veralto from $95.00 to $100.00 and gave the company a “hold” rating in a research note on Tuesday, July 30th. The Goldman Sachs Group increased their target price on Veralto from $104.00 to $116.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Robert W. Baird increased their target price on Veralto from $98.00 to $112.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Royal Bank of Canada increased their target price on Veralto from $101.00 to $108.00 and gave the stock a “sector perform” rating in a report on Monday, July 29th. Finally, Stifel Nicolaus increased their target price on Veralto from $110.00 to $117.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Veralto has a consensus rating of “Moderate Buy” and an average target price of $104.46.

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.