Banyan Capital Management Inc. Purchases New Holdings in Vontier Corporation $VNT

Key Points

• Banyan Capital Management initiated a Vontier position by purchasing 462,073 shares worth about $14.5 million, equal to 6.4% of its portfolio; institutions collectively own 95.83% of the stock.
• Vontier beat quarterly earnings and revenue estimates, reporting EPS of $0.92 and revenue of $736.9 million, though revenue declined 2.1% year over year.
• Analysts’ consensus rating was Hold, with an average price target of $42.86. Vontier also declared a quarterly dividend of $0.025 per share.

Banyan Capital Management Inc. purchased a new position in Vontier Corporation (NYSE:VNT - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 462,073 shares of the company's stock, valued at approximately $14,509,000. Vontier accounts for 6.4% of Banyan Capital Management Inc.'s investment portfolio, making the stock its 5th biggest position. Banyan Capital Management Inc. owned approximately 0.34% of Vontier as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of VNT. Private Management Group Inc. boosted its stake in shares of Vontier by 4.5% in the third quarter. Private Management Group Inc. now owns 743,814 shares of the company's stock worth $23,356,000 after acquiring an additional 32,061 shares during the period. Fulcrum Asset Management LLP purchased a new position in Vontier in the 3rd quarter worth approximately $494,000. Ethic Inc. boosted its stake in Vontier by 91.5% in the 3rd quarter. Ethic Inc. now owns 17,600 shares of the company's stock worth $553,000 after purchasing an additional 8,411 shares during the period. Parallel Advisors LLC grew its holdings in Vontier by 106.4% during the 3rd quarter. Parallel Advisors LLC now owns 3,674 shares of the company's stock valued at $115,000 after buying an additional 1,894 shares in the last quarter. Finally, Villanova Investment Management Co bought a new stake in shares of Vontier during the third quarter valued at approximately $1,808,000. 95.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

VNT has been the subject of a number of research reports. Weiss Ratings upgraded shares of Vontier from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, September 4th. Robert W. Baird raised their target price on shares of Vontier from $39.00 to $46.00 and gave the company a "neutral" rating in a research note on Monday. Citigroup lifted their price target on shares of Vontier from $44.00 to $47.00 and gave the company a "buy" rating in a report on Friday, November 6th. Finally, KeyCorp boosted their price target on shares of Vontier from $40.00 to $43.00 and gave the stock an "overweight" rating in a research note on Friday, November 6th. Four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $42.86.

Vontier Price Performance

Vontier stock opened at $43.77 on Thursday. Vontier Corporation has a 52-week low of $27.25 and a 52-week high of $48.20. The company has a quick ratio of 0.91, a current ratio of 1.23 and a debt-to-equity ratio of 1.31. The firm's fifty day moving average is $33.88 and its 200 day moving average is $33.90. The company has a market cap of $5.81 billion, a price-to-earnings ratio of 17.94, a PEG ratio of 1.28 and a beta of 1.13.

Vontier (NYSE:VNT - Get Free Report) last issued its quarterly earnings data on Thursday, November 5th. The company reported $0.92 EPS for the quarter, topping analysts' consensus estimates of $0.84 by $0.08. Vontier had a net margin of 11.27% and a return on equity of 39.53%. The business had revenue of $736.90 million during the quarter, compared to analysts' expectations of $727.98 million. During the same period last year, the company posted $0.78 EPS. The business's revenue was down 2.1% on a year-over-year basis. Sell-side analysts forecast that Vontier Corporation will post 3.64 EPS for the current fiscal year.

Vontier Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Thursday, November 19th will be paid a dividend of $0.0250 per share. The ex-dividend date of this dividend is Thursday, November 19th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.2%. Vontier's payout ratio is currently 4.10%.

Vontier Company Profile

Vontier Corporation NYSE: VNT is a global technology company serving the mobility, convenience retail and commercial transportation industries. Its products and services help businesses manage fueling and energy infrastructure, vehicle maintenance, payments and fleet operations. The company's offerings include fuel dispensers and payment systems, fuel-management and tank-monitoring technology, fleet telematics, vehicle diagnostic equipment and tools, and software for electric-vehicle charging.

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