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 paid a dividend of 0.11 per share on Friday, January 31st. This represents a $0.44 annualized dividend and a yield of 0.43%. The ex-dividend date of this dividend is Tuesday, December 31st. This is a boost from Veralto’s previous quarterly dividend of $0.09.

Veralto has a dividend payout ratio of 11.7% 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 $0.44 annual dividend with an expected future payout ratio of 11.9%.

Veralto Price Performance

Shares of NYSE:VLTO opened at $103.12 on Friday. The firm has a market capitalization of $25.50 billion, a price-to-earnings ratio of 31.83, a price-to-earnings-growth 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. The business’s 50 day simple moving average is $105.12 and its 200-day simple moving average is $105.55. Veralto has a 12 month low of $73.91 and a 12 month high of $115.00.

Veralto (NYSE:VLTO) last posted its earnings results on Wednesday, October 23rd. The company reported $0.89 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $1.30 billion. During the same period in the previous year, the business earned $0.75 earnings per share. Veralto’s quarterly revenue was up 4.7% compared to the same quarter last year. As a group, equities analysts forecast that Veralto will post 3.48 earnings per share for the current fiscal year.

Insider Transactions at Veralto

In other news, CEO Jennifer Honeycutt sold 13,190 shares of the stock in a transaction dated 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 transaction, the chief executive officer now directly owns 138,546 shares in the company, valued at $15,260,841.90. This represents a 8.69 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Surekha Trivedi sold 752 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $102.91, for a total transaction of $77,388.32. Following the completion of the sale, the senior vice president now owns 10,413 shares of the company’s stock, valued at approximately $1,071,601.83. The trade was a 6.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 14,695 shares of company stock worth $1,615,017 over the last quarter. 0.31% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

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

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.