Veralto (NYSE:VLTO) Releases Q4 Earnings Guidance

Veralto (NYSE:VLTO) issued an update on its fourth quarter earnings guidance on Wednesday morning. 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 Price Performance

Shares of VLTO traded down $4.32 during mid-day trading on Thursday, hitting $106.61. The company’s stock had a trading volume of 1,727,971 shares, compared to its average volume of 1,550,600. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.96 and a quick ratio of 1.70. The firm has a 50-day moving average price of $110.91 and a 200 day moving average price of $102.60. Veralto has a fifty-two week low of $65.51 and a fifty-two week high of $115.00. The stock has a market capitalization of $26.34 billion and a price-to-earnings ratio of 34.22.

Veralto (NYSE:VLTO) last announced its earnings results on Thursday, July 25th. The company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.05. Veralto had a return on equity of 58.82% and a net margin of 15.60%. The company had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same period in the previous year, the firm earned $0.80 earnings per share. Veralto’s revenue for the quarter was up 2.8% compared to the same quarter last year. On average, research analysts predict that Veralto will post 3.46 EPS for the current fiscal year.

Veralto Dividend Announcement

The company 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 $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.34%. The ex-dividend date of this dividend is Friday, September 27th. Veralto’s dividend payout ratio (DPR) is currently 11.29%.

Analyst Ratings Changes

VLTO has been the subject of a number of research analyst reports. TD Cowen increased their target price on shares of Veralto from $95.00 to $100.00 and gave the stock a “hold” rating in a research report on Tuesday, July 30th. BMO Capital Markets boosted their price target on Veralto from $117.00 to $119.00 and gave the company an “outperform” rating in a research note on Monday, September 30th. Robert W. Baird boosted their price target on Veralto from $98.00 to $112.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Stifel Nicolaus increased their price objective on Veralto from $117.00 to $119.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Finally, The Goldman Sachs Group increased their price target on Veralto from $104.00 to $116.00 and gave the company a “buy” rating in a report on Monday, July 29th. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $108.00.

Insider Activity

In related news, CEO Jennifer Honeycutt sold 13,191 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $111.98, for a total transaction of $1,477,128.18. Following the completion of the transaction, the chief executive officer now owns 138,546 shares in the company, valued at $15,514,381.08. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Veralto news, CEO Jennifer Honeycutt sold 13,191 shares of Veralto stock in a transaction on Friday, August 30th. The stock was sold at an average price of $111.98, for a total value of $1,477,128.18. Following the completion of the transaction, the chief executive officer now owns 138,546 shares in the company, valued at approximately $15,514,381.08. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Surekha Trivedi sold 753 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $106.72, for a total value of $80,360.16. Following the sale, the senior vice president now owns 12,671 shares in the company, valued at $1,352,249.12. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 39,039 shares of company stock worth $4,310,335. 0.31% of the stock is currently owned by corporate insiders.

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.