Veralto (NYSE:VLTO) Announces Quarterly Earnings Results

25 Oct 2024, 18:54 by Renee Jackson · The Cerbat Gem

Veralto (NYSE:VLTO – Get Free Report) released its quarterly earnings results on Wednesday. The company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.04, Briefing.com reports. Veralto had a net margin of 15.60% and a return on equity of 58.82%. The business had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter last year, the company earned $0.75 earnings per share. The business’s quarterly revenue was up 4.7% compared to the same quarter last year.

Veralto Stock Performance

Shares of NYSE VLTO traded down $1.74 during midday trading on Friday, reaching $104.05. 1,534,222 shares of the company traded hands, compared to its average volume of 1,556,290. Veralto has a 52 week low of $65.51 and a 52 week high of $115.00. The stock has a 50-day moving average price of $110.91 and a 200 day moving average price of $102.60. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.96 and a quick ratio of 1.70. The company has a market cap of $25.68 billion and a price-to-earnings ratio of 32.67.

Veralto Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date of this dividend is Friday, September 27th. Veralto’s dividend payout ratio is currently 11.29%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on VLTO shares. Deutsche Bank Aktiengesellschaft raised their price target on shares of Veralto from $100.00 to $109.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. TD Cowen raised their price target on shares of Veralto from $95.00 to $100.00 and gave the stock a “hold” rating in a research report on Tuesday, July 30th. The Goldman Sachs Group raised their price target on shares of Veralto from $104.00 to $116.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. UBS Group began coverage on shares of Veralto in a research report on Tuesday, August 13th. They set a “neutral” rating and a $118.00 price target for the company. Finally, Robert W. Baird raised their price objective on Veralto from $98.00 to $112.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Veralto presently has an average rating of “Hold” and a consensus price target of $108.27.

View Our Latest Research Report on VLTO

Insider Activity at Veralto

In related news, SVP Surekha Trivedi sold 753 shares of Veralto stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $106.72, for a total transaction of $80,360.16. Following the sale, the senior vice president now directly owns 12,671 shares in the company, valued at $1,352,249.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Surekha Trivedi sold 753 shares of Veralto stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $106.72, for a total transaction of $80,360.16. Following the transaction, the senior vice president now directly owns 12,671 shares of the company’s stock, valued at $1,352,249.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jennifer Honeycutt sold 13,191 shares of Veralto stock in a transaction dated 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 trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 39,039 shares of company stock worth $4,310,335 over the last ninety days. 0.31% of the stock is currently owned by corporate insiders.

About Veralto

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