Vontier (NYSE:VNT) Shares Gap Up on Strong Earnings

Vontier Corporation (NYSE:VNT) shares gapped up prior to trading on Thursday following a stronger than expected earnings report. The stock had previously closed at $37.58, but opened at $42.01. Vontier shares last traded at $40.0340, with a volume of 300,790 shares changing hands.

The company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.08. The company had revenue of $736.90 million during the quarter, compared to analyst estimates of $727.98 million. Vontier had a return on equity of 38.57% and a net margin of 11.34%. Vontier’s quarterly revenue was down 2.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.78 earnings per share.

Vontier Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 24th. Investors of record on Thursday, September 3rd were issued a dividend of $0.0250 per share. This represents a $0.10 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Thursday, September 3rd. Vontier’s dividend payout ratio (DPR) is 4.15%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on VNT shares. Wolfe Research reiterated an “outperform” rating and issued a $43.00 price objective on shares of Vontier in a research note on Thursday, July 9th. Weiss Ratings raised Vontier from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, September 4th. Robert W. Baird set a $39.00 price objective on Vontier in a report on Friday, August 7th. Finally, KeyCorp boosted their price objective on Vontier from $35.00 to $40.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Four equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Vontier presently has an average rating of “Hold” and an average price target of $41.00.

Institutional Investors Weigh In On Vontier

Hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in shares of Vontier during the 2nd quarter valued at about $388,315,000. Corient Private Wealth LP bought a new position in Vontier during the second quarter valued at approximately $65,037,000. Turtle Creek Asset Management Inc. raised its stake in shares of Vontier by 17.5% during the first quarter. Turtle Creek Asset Management Inc. now owns 2,114,615 shares of the company’s stock worth $75,005,000 after acquiring an additional 314,211 shares in the last quarter. Heron Bay Capital Management purchased a new position in shares of Vontier during the second quarter worth approximately $55,830,000. Finally, Jupiter Topco LLC bought a new stake in shares of Vontier in the 2nd quarter worth approximately $41,904,000. Institutional investors own 95.83% of the company’s stock.

Vontier Stock Up 6.3%

The company has a market cap of $5.40 billion, a PE ratio of 16.51, a PEG ratio of 1.25 and a beta of 1.13. The stock’s 50 day moving average price is $32.91 and its 200-day moving average price is $33.77. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.94 and a current ratio of 1.25.

Vontier Company Profile

Vontier Corporation (NYSE:VNT) is a global industrial technology company that develops and provides solutions for the mobility, transportation and connected infrastructure markets. Its products and services help businesses manage fueling, fleet operations, vehicle maintenance, repair and diagnostics, and related workflows.

Vontier’s portfolio includes technologies for retail and commercial fueling, fuel measurement and environmental compliance, fleet tracking and telematics, automotive repair equipment, diagnostic tools and aftermarket services.