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

Veralto Co. (NYSE:VLTO) announced 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 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date is Monday, March 31st.

Veralto has a dividend payout ratio of 11.0% indicating that its dividend is sufficiently covered by earnings. 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 Price Performance

VLTO opened at $97.88 on Friday. The company has a quick ratio of 1.69, a current ratio of 1.92 and a debt-to-equity ratio of 1.27. Veralto has a 12 month low of $85.90 and a 12 month high of $115.00. The company has a fifty day simple moving average of $100.75 and a 200 day simple moving average of $105.43. The stock has a market cap of $24.23 billion, a P/E ratio of 29.31, a P/E/G ratio of 4.24 and a beta of 1.11.

Veralto (NYSE:VLTO) last released its earnings results on Tuesday, February 4th. The company reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.05. Veralto had a return on equity of 49.29% and a net margin of 16.04%. On average, research analysts expect that Veralto will post 3.66 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently commented on VLTO. Stifel Nicolaus reduced 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. Royal Bank of Canada reduced their price objective 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. Citigroup cut their target price on shares of Veralto from $118.00 to $116.00 and set a “neutral” rating for the company in a research note on Monday, January 13th. Finally, Jefferies Financial Group assumed coverage on shares of Veralto in a research note on Thursday, December 12th. They issued a “buy” rating and a $125.00 target price for the company. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $112.55.

Insider Transactions at Veralto

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

Institutional Inflows and Outflows

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

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.