Envestnet Asset Management Inc. Boosts Stock Position in Visteon Corporation (NASDAQ:VC)

Key Points

• Envestnet Asset Management Inc. increased its holdings in Visteon Corporation by 66.9% in Q1, acquiring an additional 9,900 shares, which brings its total ownership to 24,698 shares valued at approximately $1.9 million.
• Visteon announced a quarterly dividend of $0.275 per share, with a yield of 0.98%, scheduled to be paid on September 5th to shareholders of record on August 18th.
• Analysts hold a generally positive outlook for Visteon, with a consensus rating of "Moderate Buy" and a price target averaging $115.58, reflecting upgrades from multiple firms in recent months.

Envestnet Asset Management Inc. raised its stake in Visteon Corporation (NASDAQ:VC - Free Report) by 66.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,698 shares of the company's stock after acquiring an additional 9,900 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.09% of Visteon worth $1,917,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. UMB Bank n.a. raised its holdings in Visteon by 286.7% during the 1st quarter. UMB Bank n.a. now owns 437 shares of the company's stock valued at $34,000 after acquiring an additional 324 shares during the period. Parallel Advisors LLC lifted its holdings in Visteon by 558.9% during the 1st quarter. Parallel Advisors LLC now owns 481 shares of the company's stock worth $37,000 after purchasing an additional 408 shares in the last quarter. Quadrant Capital Group LLC boosted its stake in Visteon by 225.3% in the 4th quarter. Quadrant Capital Group LLC now owns 501 shares of the company's stock worth $44,000 after purchasing an additional 347 shares during the period. CX Institutional bought a new position in Visteon in the 1st quarter worth about $63,000. Finally, Nomura Asset Management Co. Ltd. grew its holdings in Visteon by 884.2% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 1,181 shares of the company's stock valued at $105,000 after buying an additional 1,061 shares in the last quarter. 99.71% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on VC shares. The Goldman Sachs Group reissued a "buy" rating on shares of Visteon in a report on Friday, July 25th. Wells Fargo & Company boosted their price objective on shares of Visteon from $106.00 to $129.00 and gave the stock an "overweight" rating in a report on Friday, July 25th. JPMorgan Chase & Co. lifted their target price on shares of Visteon from $101.00 to $104.00 and gave the stock a "neutral" rating in a research report on Monday, July 28th. Robert W. Baird raised Visteon from a "neutral" rating to an "outperform" rating and raised their price objective for the company from $96.00 to $125.00 in a research note on Friday, July 11th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Visteon from $120.00 to $131.00 and gave the company a "buy" rating in a research note on Friday, July 25th. 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 company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $115.58.

Visteon Trading Down 0.5%

Shares of NASDAQ:VC traded down $0.61 on Friday, hitting $110.54. 339,792 shares of the company's stock were exchanged, compared to its average volume of 515,448. The business's 50 day simple moving average is $98.33 and its two-hundred day simple moving average is $87.19. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.87 and a quick ratio of 1.55. The stock has a market capitalization of $3.02 billion, a price-to-earnings ratio of 10.54, a price-to-earnings-growth ratio of 4.41 and a beta of 1.22. Visteon Corporation has a 12 month low of $65.10 and a 12 month high of $117.90.

Visteon (NASDAQ:VC - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The company reported $2.39 earnings per share (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 for the quarter, compared to the consensus estimate of $943.12 million. During the same period last year, the business posted $2.54 EPS. The business's revenue was down 4.4% compared to the same quarter last year. Analysts anticipate that Visteon Corporation will post 8.42 EPS for the current fiscal year.

Visteon Announces Dividend

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

Insider Activity at Visteon

In other news, SVP Joao Paulo Ribeiro sold 710 shares of the stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $115.09, for a total value of $81,713.90. Following the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Robert R. Vallance sold 2,000 shares of Visteon stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $100.15, for a total transaction of $200,300.00. Following the sale, the senior vice president owned 20,838 shares of the company's stock, valued at approximately $2,086,925.70. The trade was a 8.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.00% of the company's stock.

Visteon Company 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.