Yes, that’s right, the S&P Dow Jones Indices are moving things around…again.
At the end of this week, Vontier Corp (NYSE: VNT) will be replacing Noble Energy Inc (NASDAQ: NBL) in the S&P 500. Another boring old energy company, that’s been in the S&P 500 for 15 years finds itself kicked to the curb.
This is just two weeks after Etsy Inc, Teradyne and Catalent replaced H&R Block, Coty, and Kohl’s. Technology is the future and there’s no room for stodgy, stale companies in the index.
Ok…there’s more to the story this time since there’s and acquisition and a spinoff involved…but it’s still worth taking a look at.
Noble is leaving the index because it was acquired by Chevron Corp. That’s not surprising. I’ve said before that this year of uncertainty was going to lead to a period of consolidation. This is another example.
Now onto Vontier. This is an interesting add since the company literally just started trading last week. It is a spinoff from technology conglomerate Fortive. But just because it’s new to trading, doesn’t mean it’s the new kid on the block.
Vontier is a global industrial technology company focused on smarter transportation and mobility. The company believes that clean, efficient fueling technology is no longer optional and that expanded connectivity will transform the way that we transport goods.
Its portfolio of five operating companies is the result of decades of strategic mergers and acquisitions.
All are pioneering solutions to create a better world. Think integrated fueling solution, data-driven fleets, and smart city infrastructure. Take a look
Teletrac focuses on mobile asset management for a data-driven world by tracking and managing more than 480,000 vehicles and assets for more than 40,000 companies around the world. And it has the first AI-powered platform that delivered real-time telematic with the goal to connect, collect, analyze, and predict.
Global Traffic Technologies pioneers safe and reliable traffic solutions for smarter mobility. It has smart solutions tailored for bus, rail, and public safety agencies as society moves into smart city integration. Right now its systems are installed in over 90,000 intersections for over 3,100 customers.
Gilbarco Veeder-Root is focused on the future of fueling. Its products include fuel dispensers, point of sale software, cloud services, EV chargers. And the company is the number 1 global supplier of solutions for mobility infrastructure.
Hennessy Industries focuses on delivering a complete range of high-performance wheel-service equipment. Tire changers, wheel balancers, weights, and brake lathes are required equipment in any garage.
Matco Tools might be a household name if you know a mechanic. The company keeps vehicles in motion with trusted automotive repair and diagnostics tools through 1,800 franchisees.
If it has to do with the future of transportation, Vontier is there.
It’s into all sorts of up and coming trends… EV infrastructure, intersection automation, traffic management, IoT, diagnostics, transportation management software. And the management continues to look for innovative companies to fold into businesses.
Plus the company has been growing sales steadily over time.
Vontier is definitely a company to keep an eye on. It’s only been trading for a week, so we’re still not sure what price investors are going to settle on.
Grab a piece of paper and pen to write this down…
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I’m sure that it has the potential for double… even triple-digit gains especially as 5G continues to take off.
To your prosperity and health,
Joshua M. Belanger
Executive Publisher & Founder