Veralto Co. Declares Quarterly Dividend of $0.09 (NYSE:VLTO)

Veralto Co. (NYSE:VLTOGet Free Report) announced a quarterly dividend on Wednesday, May 22nd, Zacks reports. Stockholders of record on Friday, June 28th will be given a dividend of 0.09 per share on Wednesday, July 31st. This represents a $0.36 annualized dividend and a dividend yield of 0.36%. The ex-dividend date is Friday, June 28th.

Veralto has a dividend payout ratio of 10.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Veralto to earn $3.55 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 10.1%.

Veralto Price Performance

NYSE:VLTO opened at $101.07 on Thursday. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.56 and a current ratio of 1.83. Veralto has a one year low of $65.51 and a one year high of $101.07. The business has a fifty day moving average price of $91.91 and a 200-day moving average price of $83.64.

Veralto (NYSE:VLTOGet Free Report) last posted its quarterly earnings data on Tuesday, April 23rd. The company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.76 by $0.08. The company had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.23 billion. The business’s revenue for the quarter was up 1.7% on a year-over-year basis. Analysts anticipate that Veralto will post 3.34 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

VLTO has been the subject of several research reports. Citigroup increased their price objective on shares of Veralto from $89.00 to $94.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Stifel Nicolaus increased their price objective on shares of Veralto from $92.00 to $97.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. Robert W. Baird increased their price objective on shares of Veralto from $90.00 to $98.00 and gave the company a “neutral” rating in a report on Thursday, April 25th. BMO Capital Markets upped their target price on shares of Veralto from $97.00 to $101.00 and gave the company an “outperform” rating in a research report on Thursday, April 25th. Finally, Royal Bank of Canada upped their target price on shares of Veralto from $78.00 to $91.00 and gave the company a “sector perform” rating in a research report on Thursday, February 8th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $95.18.

Check Out Our Latest Research Report on VLTO

Insider Activity

In other Veralto news, SVP Melissa Aquino sold 8,041 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $93.56, for a total value of $752,315.96. Following the completion of the sale, the senior vice president now directly owns 20,761 shares in the company, valued at $1,942,399.16. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.31% of the company’s stock.

About Veralto

(Get Free Report)

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.

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