Is it a Good Time to Increase Your Vontier Corp. (VNT) Position?

Sound Shore Management, an investment management firm, published its first-quarter 2022 investor letter – a copy of which can be downloaded here. The Sound Shore Fund Investor Class (SSHFX) and Institutional Class (SSHVX) declined 0.97% and 0.91%, respectively, in the first quarter of 2022, trailing the Russell 1000 Value Index (Russell Value) which declined 0.74%. The one-year advances for SSHFX of 10.07% and for SSHVX of 10.30% were behind the Russell Value’s 11.67%. As long-term investors, we highlight that Sound Shore’s 30-year annualized returns of 10.19% and 10.45%, for SSHFX and SSHVX, respectively, as of March 31, 2022, the fund is ahead of the Russell Value at 10.17%. Try to spend some time taking a look at the fund’s top 5 holdings to be informed about their best picks for 2022.

In its Q1 2022 investor letter, Sound Shore Fund mentioned Vontier Corporation (NYSE:VNT) and explained its insights into the company. Founded in 2019, Vontier Corporation (NYSE:VNT)  is a Raleigh, North Carolina-based global industrial technology company with a $4.05 billion market capitalization. Vontier Corporation (NYSE:VNT)  delivered a -18.24% return since the beginning of the year, while its 12-month returns are down by -21.21%. The stock closed at $25.66 per share on April 27, 2022.

Here is what Sound Shore Fund has to say about Vontier Corporation (NYSE:VNT) in its Q1 2022 investor letter:

“Detractors for the period included two of our technology names which sold off along with the sector. Mobility technology supplier Vontier was lower despite earnings that beat estimates as investor debate focused on the longer term earnings power for Vontier’s division that sells equipment to convenience stores. The company offers environmental sensors, fueling equipment, field payment hardware, remote management and workflow software, vehicle tracking, and fleet management software solutions. Led by a strong management team with a track record of continuous improvement, we believe Vontier will steadily expand margins and grow market share. Attractively valued at 8 times earnings, we added to our position and Vontier remains a holding.”

Our calculations show that Vontier Corporation (NYSE:VNT) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. Vontier Corporation (NYSE:VNT) was in 37 hedge fund portfolios at the end of the fourth quarter of 2021, compared to 31 funds in the previous quarter. Vontier Corporation (NYSE:VNT) delivered a -6.98% return in the past 3 months.

In May 2021, we also shared another hedge fund’s views on Vontier Corporation (NYSE:VNT) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q1 page.

Disclosure: None. This article is originally published at Insider Monkey.