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Benzinga
Benzinga
Business
Anusuya Lahiri

Here's Why Vontier Shares Are Trading Higher Today

  • Vontier Corp (NYSE:VNT) forged a $250 million accelerated share repurchase agreement with Citibank, N.A. 
  • Vontier will acquire the shares under a previously approved $500 million share repurchase authorization announced in May 2021.
  • Vontier will likely have $250 million remaining under its current repurchase authorization following the ASR.
  • The company intends to continue repurchases later in the year.
  • Vontier held $572.6 million in cash and equivalents as of December 31. It generated $481.1 million in operating cash flow during the year.
  • Price Action: VNT shares traded higher by 3.06% at $25.23 on the last check Tuesday.
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