Caisse de depot et placement du Quebec Invests $60.66 Million in Fortive Corporation $FTV

Caisse de depot et placement du Quebec acquired a new position in shares of Fortive Corporation (NYSE:FTV) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 992,964 shares of the technology company’s stock, valued at approximately $60,660,000. Caisse de depot et placement du Quebec owned about 0.33% of Fortive at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in FTV. DV Equities LLC purchased a new position in shares of Fortive in the 4th quarter worth approximately $25,000. Keating Financial Advisory Services Inc. acquired a new stake in Fortive in the second quarter valued at approximately $30,000. Virtus Advisers LLC acquired a new stake in shares of Fortive in the second quarter valued at about $30,000. Geneos Wealth Management Inc. grew its holdings in shares of Fortive by 246.2% during the first quarter. Geneos Wealth Management Inc. now owns 502 shares of the technology company’s stock worth $37,000 after buying an additional 357 shares in the last quarter. Finally, Root Financial Partners LLC lifted its position in Fortive by 43.6% during the fourth quarter. Root Financial Partners LLC now owns 553 shares of the technology company’s stock worth $31,000 after buying an additional 168 shares in the last quarter. Institutional investors own 94.94% of the company’s stock.

Insider Buying and Selling

In related news, SVP Peter C. Underwood sold 8,662 shares of the company’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $61.59, for a total value of $533,492.58. Following the completion of the sale, the senior vice president owned 79,118 shares in the company, valued at $4,872,877.62. This represents a 9.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.65% of the stock is currently owned by company insiders.

Fortive Stock Down 0.5%

FTV opened at $59.93 on Friday. The business’s 50-day simple moving average is $61.09 and its 200-day simple moving average is $59.47. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.00 and a current ratio of 1.24. Fortive Corporation has a one year low of $46.54 and a one year high of $64.56. The stock has a market capitalization of $18.10 billion, a P/E ratio of 35.46, a price-to-earnings-growth ratio of 2.50 and a beta of 1.06.

Fortive (NYSE:FTV) last announced its earnings results on Wednesday, July 29th. The technology company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.03. The firm had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.07 billion. Fortive had a return on equity of 15.33% and a net margin of 12.38%.The business’s revenue was up 8.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.90 EPS. Fortive has set its FY 2026 guidance at 2.950-3.050 EPS. Analysts anticipate that Fortive Corporation will post 3.02 EPS for the current year.

Fortive declared that its board has approved a share repurchase plan on Monday, May 4th that allows the company to repurchase 20,000,000 outstanding shares. This repurchase authorization allows the technology company to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Fortive Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Friday, September 4th. This is a positive change from Fortive’s previous quarterly dividend of $0.06. Fortive’s dividend payout ratio is presently 14.20%.

Analyst Ratings Changes

Several equities analysts have recently commented on FTV shares. Truist Financial reaffirmed a “hold” rating and issued a $68.00 price target (up from $67.00) on shares of Fortive in a research note on Thursday, July 30th. Citigroup lifted their target price on Fortive from $64.00 to $65.00 and gave the company a “neutral” rating in a report on Friday, May 1st. Wells Fargo & Company boosted their target price on Fortive from $58.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Monday, May 4th. Royal Bank Of Canada upped their price target on Fortive from $59.00 to $63.00 and gave the stock a “sector perform” rating in a report on Friday, May 1st. Finally, Weiss Ratings raised Fortive from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, August 12th. Two research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $63.10.

Fortive Profile

Fortive Corporation (NYSE: FTV) is a diversified industrial technology company headquartered in Everett, Washington. The company was created through a spin?off from Danaher Corporation in 2016 and has since focused on building a portfolio of professional instrumentation and industrial technology businesses. In 2020 Fortive completed a further portfolio separation with the spin?off of Vontier, concentrating Fortive’s activities on higher?margin instrumentation, software and services.

Fortive’s operations center on professional test and measurement, sensing and monitoring, software?enabled solutions, and lifecycle services that support industrial and commercial customers.