Fortive Corporation $FTV Shares Sold by Candriam S.C.A.

Key Points

• Candriam S.C.A. has reduced its stake in Fortive Corporation by 67.6%, owning 76,951 shares after selling 160,814 shares in the first quarter.
• Fortive's stock price opened at $47.675, with a 52-week low of $46.34 and a high of $83.32, reflecting significant volatility.
• The company reported earnings per share (EPS) of $0.58, missing the consensus estimate of $0.60, alongside a revenue decrease of .4% year-over-year.

Candriam S.C.A. lessened its stake in shares of Fortive Corporation (NYSE:FTV - Free Report) by 67.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 76,951 shares of the technology company's stock after selling 160,814 shares during the quarter. Candriam S.C.A.'s holdings in Fortive were worth $5,631,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Cambridge Investment Research Advisors Inc. raised its stake in Fortive by 11.1% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 10,793 shares of the technology company's stock valued at $790,000 after buying an additional 1,076 shares in the last quarter. Drake & Associates LLC grew its holdings in Fortive by 28.7% in the 1st quarter. Drake & Associates LLC now owns 22,298 shares of the technology company's stock worth $1,632,000 after buying an additional 4,978 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Fortive by 13.1% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 51,343 shares of the technology company's stock valued at $3,757,000 after purchasing an additional 5,963 shares in the last quarter. Brookstone Capital Management bought a new position in Fortive during the 1st quarter valued at $3,542,000. Finally, Perpetual Ltd boosted its stake in Fortive by 60.0% during the 1st quarter. Perpetual Ltd now owns 239,735 shares of the technology company's stock valued at $17,544,000 after purchasing an additional 89,891 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company's stock.

Fortive Stock Performance

FTV stock opened at $47.6750 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.98 and a quick ratio of 0.82. The company has a 50 day moving average price of $54.54 and a 200 day moving average price of $66.45. Fortive Corporation has a fifty-two week low of $46.34 and a fifty-two week high of $83.32. The stock has a market capitalization of $16.13 billion, a PE ratio of 21.48, a price-to-earnings-growth ratio of 3.04 and a beta of 1.08.

Fortive (NYSE:FTV - Get Free Report) last issued its earnings results on Wednesday, July 30th. The technology company reported $0.58 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.02). Fortive had a net margin of 13.62% and a return on equity of 11.96%. The business had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter in the previous year, the firm posted $0.93 EPS. The business's revenue was down .4% on a year-over-year basis. Fortive has set its FY 2025 guidance at 2.500-2.600 EPS. Analysts forecast that Fortive Corporation will post 4.05 EPS for the current year.

Fortive declared that its board has approved a share buyback program on Tuesday, May 27th that allows the company to buyback 15,630,000 shares. This buyback authorization allows the technology company to repurchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company's board of directors believes its stock is undervalued.

Analyst Ratings Changes

A number of brokerages have recently commented on FTV. Melius downgraded Fortive from a "buy" rating to a "hold" rating and set a $62.00 price objective for the company. in a research report on Tuesday, July 22nd. Melius Research raised shares of Fortive to a "hold" rating in a research note on Tuesday, July 22nd. Barclays set a $54.00 price target on Fortive and gave the stock an "equal weight" rating in a research note on Thursday, August 14th. Royal Bank Of Canada decreased their price target on Fortive from $58.00 to $56.00 and set a "sector perform" rating for the company in a research note on Thursday, July 31st. Finally, BNP Paribas reaffirmed a "neutral" rating on shares of Fortive in a research report on Thursday, June 12th. Five analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $65.57.

About Fortive

Fortive Corporation designs, develops, manufactures, and services professional and engineered products, software, and services in the United States, China, and internationally. It operates in three segments: Intelligent Operating Solutions, Precision Technologies, and Advanced Healthcare Solutions. The Intelligent Operating Solutions segment provides advanced instrumentation, software, and services, including electrical test and measurement, facility and asset lifecycle software applications, and connected worker safety and compliance solutions for manufacturing, process industries, healthcare, utilities and power, communications and electronics, and other industries.

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