Veralto (NYSE:VLTO) Releases Quarterly Earnings Results, Beats Expectations By $0.04 EPS

25 Oct 2024, 22:00 by Mitch Edgeman · The Markets Daily

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

Veralto Price Performance

Veralto stock traded down $1.74 during trading hours on Friday, hitting $104.05. 1,534,222 shares of the stock were exchanged, compared to its average volume of 1,556,290. Veralto has a 12 month low of $65.51 and a 12 month high of $115.00. The business’s 50-day moving average is $110.91 and its two-hundred day moving average is $102.60. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.70 and a current ratio of 1.96. The stock has a market capitalization of $25.68 billion and a P/E ratio of 32.67.

Veralto Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, September 27th will be given a $0.09 dividend. The ex-dividend date is Friday, September 27th. This represents a $0.36 dividend on an annualized basis and a yield of 0.35%. Veralto’s dividend payout ratio (DPR) is presently 11.29%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. The Goldman Sachs Group lifted their target price on Veralto from $104.00 to $116.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. TD Cowen boosted their price objective on Veralto from $95.00 to $100.00 and gave the company a “hold” rating in a research report on Tuesday, July 30th. BMO Capital Markets raised their target price on Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a research report on Monday, September 30th. Robert W. Baird boosted their price target on shares of Veralto from $98.00 to $112.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Finally, Stifel Nicolaus raised their price objective on shares of Veralto from $117.00 to $119.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Veralto currently has an average rating of “Hold” and an average target price of $108.27.

View Our Latest Stock Analysis on VLTO

Insider Transactions at Veralto

In related news, SVP Mattias Bystrom sold 3,000 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $105.89, for a total transaction of $317,670.00. Following the transaction, the senior vice president now owns 31,045 shares in the company, valued at $3,287,355.05. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Surekha Trivedi sold 753 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $106.72, for a total value of $80,360.16. Following the transaction, the senior vice president now owns 12,671 shares in the company, valued at $1,352,249.12. This trade represents 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, SVP Mattias Bystrom sold 3,000 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $105.89, for a total transaction of $317,670.00. Following the transaction, the senior vice president now owns 31,045 shares in the company, valued at approximately $3,287,355.05. 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 39,039 shares of company stock valued at $4,310,335 in the last three months. 0.31% of the stock is owned by corporate insiders.

Veralto Company Profile

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