Stanley Capital Management LLC acquired a new position in shares of Vontier Corporation (NYSE:VNT – Free Report) during the second quarter, Holdings Channel reports. The fund acquired 536,000 shares of the company’s stock, valued at approximately $15,544,000. Vontier comprises about 2.1% of Stanley Capital Management LLC’s investment portfolio, making the stock its 23rd biggest position.
Several other institutional investors have also recently made changes to their positions in VNT. Bessemer Group Inc. lifted its position in shares of Vontier by 21.6% during the first quarter. Bessemer Group Inc. now owns 776,603 shares of the company’s stock valued at $27,546,000 after purchasing an additional 137,750 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in Vontier by 1,950.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 73,758 shares of the company’s stock worth $2,742,000 after purchasing an additional 70,160 shares in the last quarter. ASO GROUP Ltd bought a new stake in Vontier in the 4th quarter worth about $4,390,000. Franklin Resources Inc. increased its stake in Vontier by 11.1% in the 4th quarter. Franklin Resources Inc. now owns 5,803,510 shares of the company’s stock valued at $215,774,000 after buying an additional 577,914 shares during the last quarter. Finally, First Trust Advisors LP increased its stake in Vontier by 14.2% in the 1st quarter. First Trust Advisors LP now owns 307,265 shares of the company’s stock valued at $10,899,000 after buying an additional 38,152 shares during the last quarter. Institutional investors own 95.83% of the company’s stock.
Vontier Stock Up 0.4%
VNT opened at $33.38 on Wednesday. The company has a market cap of $4.51 billion, a PE ratio of 13.85, a price-to-earnings-growth ratio of 1.14 and a beta of 1.15. Vontier Corporation has a 12 month low of $27.25 and a 12 month high of $48.20. The company has a current ratio of 1.25, a quick ratio of 0.94 and a debt-to-equity ratio of 1.33. The company has a 50 day moving average of $31.16 and a 200 day moving average of $33.69.
Vontier Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, September 3rd will be issued a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Thursday, September 3rd. Vontier’s dividend payout ratio is presently 4.15%.
Vontier declared that its Board of Directors has approved a stock repurchase plan on Tuesday, May 19th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to reacquire up to 25.4% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.
Wall Street Analysts Forecast Growth
Several research firms have recently issued reports on VNT. Evercore set a $36.00 target price on Vontier in a report on Monday, May 11th. Wall Street Zen cut Vontier from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Argus downgraded Vontier from a “buy” rating to a “hold” rating in a research note on Tuesday, May 26th. KeyCorp raised their target price on Vontier from $35.00 to $40.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Finally, Robert W. Baird set a $39.00 target price on Vontier in a research note on Friday, August 7th. Four research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Vontier has a consensus rating of “Hold” and a consensus target price of $41.00.
Get Our Latest Report on Vontier
Vontier Company Profile
Vontier is a global industrial technology company focused on advancing mobility infrastructure and transportation solutions. Established as a standalone public company in October 2020 through the spin-off of Fortive’s mobility and transportation platforms, Vontier is headquartered in Raleigh, North Carolina. The company’s mission centers on delivering innovative products and services that help customers meet evolving demands in fuel retail, fleet management, and automotive service.
The company’s diversified portfolio spans several well-known brands.
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