First Trust Advisors LP boosted its holdings in shares of Vontier Corporation (NYSE:VNT – Free Report) by 14.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 307,265 shares of the company’s stock after purchasing an additional 38,152 shares during the period. First Trust Advisors LP owned approximately 0.22% of Vontier worth $10,899,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently bought and sold shares of VNT. Lazard Asset Management LLC raised its stake in Vontier by 7.7% during the 2nd quarter. Lazard Asset Management LLC now owns 3,534 shares of the company’s stock valued at $129,000 after acquiring an additional 253 shares during the last quarter. Americana Partners LLC grew its stake in shares of Vontier by 4.9% in the 4th quarter. Americana Partners LLC now owns 6,217 shares of the company’s stock valued at $231,000 after purchasing an additional 289 shares during the last quarter. Great Lakes Advisors LLC grew its stake in shares of Vontier by 5.6% in the 4th quarter. Great Lakes Advisors LLC now owns 6,104 shares of the company’s stock valued at $227,000 after purchasing an additional 321 shares during the last quarter. HB Wealth Management LLC increased its holdings in shares of Vontier by 4.3% in the fourth quarter. HB Wealth Management LLC now owns 8,237 shares of the company’s stock valued at $306,000 after purchasing an additional 340 shares during the period. Finally, Deutsche Bank AG increased its holdings in shares of Vontier by 2.2% in the fourth quarter. Deutsche Bank AG now owns 17,829 shares of the company’s stock valued at $663,000 after purchasing an additional 390 shares during the period. 95.83% of the stock is currently owned by institutional investors and hedge funds.
Vontier Trading Up 0.9%
Shares of VNT stock opened at $32.18 on Friday. The business’s fifty day moving average price is $29.60 and its 200 day moving average price is $34.25. Vontier Corporation has a 1-year low of $27.25 and a 1-year high of $48.20. The firm has a market capitalization of $4.53 billion, a PE ratio of 11.37, a P/E/G ratio of 1.20 and a beta of 1.16. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.23 and a quick ratio of 0.90.
Vontier declared that its Board of Directors has initiated a share buyback plan on Tuesday, May 19th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 25.4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
Vontier Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Thursday, June 4th were issued a dividend of $0.025 per share. The ex-dividend date of this dividend was Thursday, June 4th. This represents a $0.10 dividend on an annualized basis and a yield of 0.3%. Vontier’s payout ratio is currently 3.53%.
Wall Street Analysts Forecast Growth
Several brokerages recently weighed in on VNT. Wall Street Zen downgraded Vontier from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Evercore set a $36.00 price objective on shares of Vontier in a research note on Monday, May 11th. Wolfe Research restated an “outperform” rating and set a $43.00 price objective on shares of Vontier in a research report on Thursday, July 9th. Citigroup lowered their target price on shares of Vontier from $50.00 to $44.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Finally, Weiss Ratings lowered shares of Vontier from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, May 19th. Six investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Vontier currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.89.
Get Our Latest Report on Vontier
Vontier 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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