Veralto Co. (NYSE:VLTO) Increases Dividend to $0.11 Per Share

Veralto Co. (NYSE:VLTO) declared a quarterly dividend on Thursday, December 19th,RTT News reports. Stockholders 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 dividend yield of 0.42%. The ex-dividend date is Tuesday, December 31st. This is a positive change 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 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 2.9 %

VLTO stock opened at $104.25 on Friday. The firm’s fifty day moving average is $106.09 and its 200 day moving average is $105.39. The firm has a market cap of $25.78 billion, a PE ratio of 32.18, a P/E/G ratio of 4.30 and a beta of 0.91. Veralto has a one year low of $73.91 and a one year high of $115.00. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.87 and a current ratio of 2.13.

Veralto (NYSE:VLTO) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.04. The firm had revenue of $1.31 billion during 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 quarter in the previous year, the business earned $0.75 EPS. On average, research analysts forecast that Veralto will post 3.48 EPS for the current year.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In related news, SVP Surekha Trivedi sold 753 shares of the company’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 transaction, the senior vice president now directly owns 11,165 shares in the company, valued at approximately $1,256,620.75. This represents a 6.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jennifer Honeycutt sold 13,190 shares of the firm’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $110.15, for a total value 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 approximately $15,260,841.90. This trade represents a 8.69 % 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 three months. 0.31% of the stock is currently owned by 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.