Veralto (NYSE:VLTO) Issues Q4 Earnings Guidance

Veralto (NYSE:VLTO) updated its fourth quarter earnings guidance on Wednesday. The company provided EPS guidance of $0.86-0.90 for the period, compared to the consensus EPS estimate of $0.90. Veralto also updated its FY 2024 guidance to 3.440-3.480 EPS.

Veralto Stock Performance

VLTO stock traded down $1.30 during trading on Friday, hitting $104.49. 567,299 shares of the company traded hands, compared to its average volume of 1,551,619. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.96 and a quick ratio of 1.70. Veralto has a 1 year low of $65.51 and a 1 year high of $115.00. The stock’s 50-day simple moving average is $110.91 and its 200 day simple moving average is $102.60. The company has a market cap of $25.79 billion and a PE ratio of 33.14.

Veralto (NYSE:VLTO) last posted its earnings results on Wednesday, October 23rd. The company reported $0.89 earnings per share (EPS) 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 analysts’ expectations of $1.30 billion. Veralto had a net margin of 15.60% and a return on equity of 58.82%. The business’s revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.75 EPS. On average, equities analysts expect that Veralto will post 3.46 earnings per share for the current fiscal year.

Veralto Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, September 27th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date is Friday, September 27th. Veralto’s dividend payout ratio (DPR) is presently 11.29%.

Analyst Upgrades and Downgrades

VLTO has been the topic of a number of recent analyst reports. The Goldman Sachs Group increased their price target on Veralto from $104.00 to $116.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. 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. TD Cowen boosted their price target on shares of Veralto from $95.00 to $100.00 and gave the stock a “hold” rating in a report on Tuesday, July 30th. Stifel Nicolaus increased their price objective on shares of Veralto from $117.00 to $119.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Veralto from $100.00 to $109.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $108.00.

Insider Activity

In related news, SVP Mattias Bystrom sold 3,000 shares of the firm’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $105.89, for a total transaction of $317,670.00. Following the completion of the sale, the senior vice president now directly owns 31,045 shares of the company’s stock, valued at approximately $3,287,355.05. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Surekha Trivedi sold 753 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $106.72, for a total transaction of $80,360.16. Following the completion of the transaction, the senior vice president now directly 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 filing with the SEC, which is available at the SEC website. Also, SVP Mattias Bystrom sold 3,000 shares of Veralto stock in a transaction on Monday, July 29th. The shares were sold at an average price of $105.89, for a total value of $317,670.00. Following the completion of the sale, the senior vice president now directly owns 31,045 shares of the company’s stock, valued at $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 a total of 39,039 shares of company stock valued at $4,310,335 in the last quarter. Insiders own 0.31% of the company’s stock.

About Veralto

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.