California State Teachers Retirement System Raises Stake in Vontier Corporation $VNT

by · The Markets Daily

California State Teachers Retirement System grew its stake in Vontier Corporation (NYSE:VNT – Free Report) by 20.8% in the first quarter, Holdings Channel reports. The fund owned 169,722 shares of the company’s stock after purchasing an additional 29,281 shares during the period. California State Teachers Retirement System’s holdings in Vontier were worth $6,020,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of VNT. Scarborough Advisors LLC acquired a new position in shares of Vontier during the 1st quarter valued at about $57,000. Employees Retirement System of Texas acquired a new stake in Vontier during the third quarter worth about $58,000. Clearstead Advisors LLC raised its stake in Vontier by 82.8% during the fourth quarter. Clearstead Advisors LLC now owns 1,665 shares of the company’s stock worth $62,000 after purchasing an additional 754 shares during the period. Quarry LP boosted its holdings in Vontier by 5,897.1% in the 3rd quarter. Quarry LP now owns 2,099 shares of the company’s stock valued at $88,000 after purchasing an additional 2,064 shares during the last quarter. Finally, Parkside Financial Bank & Trust boosted its holdings in Vontier by 152.5% in the 4th quarter. Parkside Financial Bank & Trust now owns 2,634 shares of the company’s stock valued at $98,000 after purchasing an additional 1,591 shares during the last quarter. Hedge funds and other institutional investors own 95.83% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on VNT. Barclays cut their price target on shares of Vontier from $50.00 to $45.00 and set an “overweight” rating for the company in a report on Friday, May 8th. Argus cut Vontier from a “buy” rating to a “hold” rating in a report on Tuesday, May 26th. Wolfe Research reiterated an “outperform” rating and issued a $43.00 price objective on shares of Vontier in a research report on Thursday, July 9th. Robert W. Baird set a $37.00 target price on Vontier in a research note on Friday, May 8th. Finally, KeyCorp reduced their target price on Vontier from $40.00 to $35.00 and set an “overweight” rating on the stock in a research report on Monday, July 13th. Five investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $40.00.

Check Out Our Latest Research Report on Vontier

Vontier Stock Performance

Shares of Vontier stock opened at $33.70 on Thursday. The business has a 50-day moving average of $29.84 and a 200 day moving average of $34.11. Vontier Corporation has a 12 month low of $27.25 and a 12 month high of $48.20. The stock has a market capitalization of $4.75 billion, a price-to-earnings ratio of 11.91, a price-to-earnings-growth ratio of 1.28 and a beta of 1.15. 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 (NYSE:VNT – Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.02). The business had revenue of $750.60 million for the quarter, compared to analysts’ expectations of $737.21 million. Vontier had a return on equity of 37.88% and a net margin of 13.37%.The firm’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter last year, the company earned $0.77 earnings per share. As a group, sell-side analysts forecast that Vontier Corporation will post 3.39 earnings per share for the current year.

Vontier Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Thursday, June 4th were paid a $0.025 dividend. The ex-dividend date of this dividend was Thursday, June 4th. This represents a $0.10 annualized dividend and a dividend yield of 0.3%. Vontier’s dividend payout ratio (DPR) is presently 3.53%.

Vontier announced that its board has initiated a share buyback program on Tuesday, May 19th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 25.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Vontier Company Profile

(Free Report)

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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