Veralto (VLTO) to Release Quarterly Earnings on Tuesday

Veralto (NYSE:VLTO) will be posting its quarterly earnings results after the market closes on Tuesday, April 23rd. Analysts expect Veralto to post earnings of $0.76 per share for the quarter. Individual that wish to listen to the company’s earnings conference call can do so using this link.

Veralto (NYSE:VLTO) last released its quarterly earnings results on Tuesday, February 6th. The company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.80 by $0.07. The company had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.25 billion. The company’s revenue was up 3.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.80 earnings per share. On average, analysts expect Veralto to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Veralto Price Performance

VLTO opened at $89.86 on Tuesday. The company has a debt-to-equity ratio of 1.89, a current ratio of 1.64 and a quick ratio of 1.40. Veralto has a 12 month low of $65.51 and a 12 month high of $90.77. The stock has a fifty day moving average of $86.97.

Veralto Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.40%. The ex-dividend date of this dividend is Wednesday, March 27th.

Insider Transactions at Veralto

In other Veralto news, insider Mattias Bystrom sold 500 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $86.10, for a total transaction of $43,050.00. Following the transaction, the insider now owns 30,310 shares in the company, valued at $2,609,691. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Veralto

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. acquired a new position in shares of Veralto during the fourth quarter valued at approximately $2,127,330,000. Price T Rowe Associates Inc. MD raised its holdings in shares of Veralto by 2,510.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,326,836 shares of the company’s stock valued at $355,926,000 after acquiring an additional 4,161,115 shares during the last quarter. Nuveen Asset Management LLC acquired a new position in shares of Veralto during the fourth quarter valued at approximately $236,995,000. Legal & General Group Plc raised its holdings in shares of Veralto by 8,184.3% during the fourth quarter. Legal & General Group Plc now owns 1,543,945 shares of the company’s stock valued at $127,005,000 after acquiring an additional 1,525,308 shares during the last quarter. Finally, Royal Bank of Canada raised its holdings in shares of Veralto by 4,738.2% during the fourth quarter. Royal Bank of Canada now owns 1,104,509 shares of the company’s stock valued at $90,857,000 after acquiring an additional 1,081,680 shares during the last quarter. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on VLTO. Royal Bank of Canada upped their target price on Veralto from $78.00 to $91.00 and gave the company a “sector perform” rating in a research report on Thursday, February 8th. Deutsche Bank Aktiengesellschaft began coverage on Veralto in a research report on Wednesday, January 10th. They set a “hold” rating and a $79.00 target price on the stock. BMO Capital Markets assumed coverage on Veralto in a research report on Tuesday, February 27th. They set an “outperform” rating and a $97.00 target price on the stock. Citigroup boosted their price target on Veralto from $89.00 to $94.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Finally, The Goldman Sachs Group assumed coverage on Veralto in a research note on Friday, March 22nd. They set a “buy” rating and a $104.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $92.00.

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.