Veralto Co. (NYSE:VLTO) Plans $0.11 Quarterly Dividend

Veralto Co. (NYSE:VLTO) declared a quarterly dividend on Wednesday, March 5th, RTT News reports. Investors of record on Monday, March 31st will be given a dividend of 0.11 per share on Wednesday, April 30th. This represents a $0.44 annualized dividend and a yield of 0.45%.

Veralto has a payout ratio of 11.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Veralto to earn $3.99 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 11.0%.

Veralto Stock Performance

Shares of VLTO stock opened at $98.66 on Thursday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.69 and a current ratio of 1.92. Veralto has a 1 year low of $85.90 and a 1 year high of $115.00. The stock’s 50-day moving average is $100.87 and its two-hundred day moving average is $105.49. The firm has a market cap of $24.42 billion, a price-to-earnings ratio of 29.54, a PEG ratio of 4.24 and a beta of 1.11.

Veralto (NYSE:VLTO) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.05. Veralto had a net margin of 16.04% and a return on equity of 49.29%. Analysts predict that Veralto will post 3.66 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have commented on VLTO shares. Royal Bank of Canada lowered their target price on shares of Veralto from $111.00 to $110.00 and set a “sector perform” rating for the company in a research note on Thursday, February 6th. Stifel Nicolaus lowered their price objective on shares of Veralto from $116.00 to $110.00 and set a “buy” rating for the company in a research note on Thursday, February 6th. Jefferies Financial Group started coverage on shares of Veralto in a report on Thursday, December 12th. They set a “buy” rating and a $125.00 target price on the stock. Finally, Citigroup reduced their target price on shares of Veralto from $118.00 to $116.00 and set a “neutral” rating on the stock in a report on Monday, January 13th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $112.55.

Insider Activity at Veralto

In other news, SVP Surekha Trivedi sold 590 shares of the company’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $100.35, for a total value of $59,206.50. Following the sale, the senior vice president now owns 8,470 shares of the company’s stock, valued at approximately $849,964.50. This represents a 6.51 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Melissa Aquino sold 463 shares of the company’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $99.60, for a total transaction of $46,114.80. Following the completion of the sale, the senior vice president now directly owns 20,761 shares in the company, valued at approximately $2,067,795.60. The trade was a 2.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,467 shares of company stock worth $1,150,366 in the last ninety days. 0.31% of the stock is currently owned by insiders.

Institutional Trading of Veralto

A hedge fund recently raised its stake in Veralto stock. Brighton Jones LLC increased its holdings in shares of Veralto Co. (NYSE:VLTO) by 16.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,459 shares of the company’s stock after purchasing an additional 479 shares during the quarter. Brighton Jones LLC’s holdings in Veralto were worth $352,000 as of its most recent filing with the SEC. 91.28% of the stock is currently owned by hedge funds and other institutional investors.

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.