3,500 Shares in Visteon Corporation (NASDAQ:VC) Purchased by Alberta Investment Management Corp

Key Points

• Alberta Investment Management Corp acquired 3,500 shares of Visteon Corporation during the first quarter, valued at approximately $272,000.
• Visteon reported earnings of $2.39 EPS for the last quarter, surpassing expectations, though revenues declined 4.4% year-over-year.
• The firm announced a $0.275 quarterly dividend, set to be paid on September 5th, representing an annual yield of 1.0%.

Alberta Investment Management Corp bought a new stake in shares of Visteon Corporation (NASDAQ:VC - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 3,500 shares of the company's stock, valued at approximately $272,000.

Several other institutional investors have also recently made changes to their positions in VC. Invesco Ltd. lifted its holdings in Visteon by 5.6% during the 4th quarter. Invesco Ltd. now owns 1,184,511 shares of the company's stock valued at $105,090,000 after buying an additional 62,610 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Visteon by 17.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 844,068 shares of the company's stock worth $74,886,000 after acquiring an additional 124,897 shares during the period. Geode Capital Management LLC increased its position in shares of Visteon by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 670,363 shares of the company's stock valued at $59,487,000 after buying an additional 1,681 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in Visteon by 20.0% during the fourth quarter. Ameriprise Financial Inc. now owns 426,163 shares of the company's stock valued at $37,809,000 after purchasing an additional 71,024 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. lifted its position in shares of Visteon by 5.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 389,532 shares of the company's stock valued at $34,560,000 after acquiring an additional 19,990 shares in the last quarter. Institutional investors own 99.71% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Robert W. Baird upgraded Visteon from a "neutral" rating to an "outperform" rating and upped their price objective for the company from $96.00 to $125.00 in a report on Friday, July 11th. Barclays upped their price objective on Visteon from $115.00 to $120.00 and gave the stock an "equal weight" rating in a research report on Friday, July 25th. UBS Group reiterated a "buy" rating and set a $146.00 price target (up from $142.00) on shares of Visteon in a research note on Friday, July 25th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Visteon from $120.00 to $131.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Finally, Guggenheim dropped their price target on Visteon from $108.00 to $91.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $115.58.

Visteon Trading Up 0.6%

Shares of VC traded up $0.69 on Friday, hitting $114.39. 58,946 shares of the stock traded hands, compared to its average volume of 382,890. The firm has a market capitalization of $3.12 billion, a P/E ratio of 10.88, a P/E/G ratio of 4.51 and a beta of 1.22. The company has a quick ratio of 1.55, a current ratio of 1.87 and a debt-to-equity ratio of 0.19. Visteon Corporation has a 1 year low of $65.10 and a 1 year high of $117.90. The stock's 50 day moving average is $100.66 and its two-hundred day moving average is $87.99.

Visteon (NASDAQ:VC - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The company reported $2.39 EPS for the quarter, beating analysts' consensus estimates of $2.04 by $0.35. Visteon had a return on equity of 23.22% and a net margin of 7.61%. The business had revenue of $969.00 million during the quarter, compared to the consensus estimate of $943.12 million. During the same quarter in the previous year, the business earned $2.54 earnings per share. The business's revenue for the quarter was down 4.4% on a year-over-year basis. As a group, sell-side analysts predict that Visteon Corporation will post 8.42 earnings per share for the current year.

Visteon Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Monday, August 18th will be issued a $0.275 dividend. The ex-dividend date is Monday, August 18th. This represents a $1.10 dividend on an annualized basis and a yield of 1.0%.

Insiders Place Their Bets

In other news, SVP Robert R. Vallance sold 2,000 shares of the stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $100.15, for a total transaction of $200,300.00. Following the completion of the transaction, the senior vice president directly owned 20,838 shares in the company, valued at approximately $2,086,925.70. This represents a 8.76% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Joao Paulo Ribeiro sold 710 shares of the business's stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $115.09, for a total value of $81,713.90. Following the completion of the sale, the senior vice president directly owned 6,698 shares of the company's stock, valued at approximately $770,872.82. This represents a 9.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.00% of the company's stock.

Visteon Profile

Visteon Corporation, an automotive technology company, designs, manufactures, and sells automotive electronics and connected car solutions for vehicle manufacturers worldwide. The company provides instrument clusters, including analog gauge clusters for 2-D and 3-D display-based devices; information displays that integrate a range of user interface technologies and graphics management capabilities, such as active privacy, TrueColor enhancement, local dimming, cameras, optics, haptic feedback, and light effects; and infotainment and connected car solutions, including scalable Android infotainment for seamless connectivity, as well as onboard artificial intelligence-based voice assistants with natural language understanding.