Palisade Capital Management LP Makes New $10.95 Million Investment in Vontier Corporation $VNT

Key Points

• Palisade Capital Management initiated a $10.95 million position in Vontier, buying 377,419 shares; institutional investors collectively own 95.83% of the company.
• Vontier exceeded quarterly expectations, reporting $0.89 EPS versus the $0.80 consensus and $756.7 million in revenue, though revenue declined 2.2% year over year.
• The company authorized a $1 billion share-repurchase program covering up to 25.4% of outstanding shares and declared a quarterly dividend of $0.025 per share. Analyst sentiment is mixed, with an average “Hold” rating and a $41 price target.

Palisade Capital Management LP purchased a new position in Vontier Corporation (NYSE:VNT - Free Report) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 377,419 shares of the company's stock, valued at approximately $10,945,000. Palisade Capital Management LP owned 0.28% of Vontier at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Bessemer Group Inc. grew its holdings in Vontier by 21.6% in 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 during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of Vontier by 1,950.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 73,758 shares of the company's stock worth $2,742,000 after buying an additional 70,160 shares during the last quarter. ASO GROUP Ltd purchased a new stake in shares of Vontier in the 4th quarter worth about $4,390,000. Franklin Resources Inc. boosted its position in shares of Vontier by 11.1% in the 4th quarter. Franklin Resources Inc. now owns 5,803,510 shares of the company's stock worth $215,774,000 after buying an additional 577,914 shares in the last quarter. Finally, First Trust Advisors LP grew 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 acquiring an additional 38,152 shares during the last quarter. Institutional investors and hedge funds own 95.83% of the company's stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Wolfe Research restated an "outperform" rating and set a $43.00 target price on shares of Vontier in a report on Thursday, July 9th. Wall Street Zen downgraded shares of Vontier from a "buy" rating to a "hold" rating in a report on Saturday, May 9th. Evercore set a $36.00 price target on shares of Vontier in a research report on Monday, May 11th. Barclays dropped their price objective on shares of Vontier from $50.00 to $45.00 and set an "overweight" rating for the company in a research note on Friday, May 8th. Finally, KeyCorp lifted their price objective on Vontier from $35.00 to $40.00 and gave the stock an "overweight" rating in a research report on Friday, August 7th. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Vontier presently has an average rating of "Hold" and an average price target of $41.00.

Vontier Trading Up 0.4%

Vontier stock opened at $33.38 on Wednesday. The stock has a market cap of $4.51 billion, a PE ratio of 13.85, a P/E/G ratio of 1.14 and a beta of 1.15. The stock has a 50-day moving average price of $31.16 and a 200 day moving average price of $33.69. Vontier Corporation has a 52 week low of $27.25 and a 52 week 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.

Vontier (NYSE:VNT - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported $0.89 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.80 by $0.09. Vontier had a net margin of 11.34% and a return on equity of 38.57%. The company had revenue of $756.70 million for the quarter, compared to analyst estimates of $747.12 million. During the same period in the prior year, the firm earned $0.79 EPS. The firm's quarterly revenue was down 2.2% on a year-over-year basis. Vontier has set its FY 2026 guidance at 3.450-3.550 EPS and its Q3 2026 guidance at 0.820-0.860 EPS. Equities research analysts predict that Vontier Corporation will post 3.49 earnings per share for the current fiscal year.

Vontier declared that its Board of Directors has authorized a share repurchase program on Tuesday, May 19th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 25.4% of its shares through open market purchases. Shares buyback programs are often an indication that the company's leadership believes its stock is undervalued.

Vontier Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Thursday, September 3rd will be given a dividend of $0.025 per share. The ex-dividend date is Thursday, September 3rd. This represents a $0.10 dividend on an annualized basis and a yield of 0.3%. Vontier's dividend payout ratio (DPR) is 4.15%.

About Vontier

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source