Intech Investment Management LLC Cuts Position in Visteon Corporation $VC

Key Points

• Intech Investment Management LLC cut its Visteon stake by 38.7% in the fourth quarter, selling 43,639 shares and ending with 69,193 shares worth about $6.58 million.
• Several analysts remain constructive on Visteon despite some mixed target-price moves, with a consensus rating of Moderate Buy and an average price target of $124.42.
• Visteon reported quarterly EPS of $1.65, missing estimates, while revenue came in at $954 million above expectations; the company also announced a quarterly dividend of $0.375 per share.

Intech Investment Management LLC lessened its holdings in Visteon Corporation (NASDAQ:VC - Free Report) by 38.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 69,193 shares of the company's stock after selling 43,639 shares during the quarter. Intech Investment Management LLC owned about 0.25% of Visteon worth $6,580,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of VC. Farther Finance Advisors LLC raised its position in shares of Visteon by 144.1% in the 4th quarter. Farther Finance Advisors LLC now owns 288 shares of the company's stock worth $27,000 after purchasing an additional 170 shares during the last quarter. Plato Investment Management Ltd purchased a new position in shares of Visteon in the 3rd quarter worth about $48,000. Hantz Financial Services Inc. raised its position in shares of Visteon by 72.0% in the 3rd quarter. Hantz Financial Services Inc. now owns 423 shares of the company's stock worth $51,000 after purchasing an additional 177 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new position in shares of Visteon in the 3rd quarter worth about $54,000. Finally, Clearstead Advisors LLC grew its holdings in shares of Visteon by 183.7% during the fourth quarter. Clearstead Advisors LLC now owns 576 shares of the company's stock valued at $55,000 after buying an additional 373 shares during the last quarter. Hedge funds and other institutional investors own 99.71% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on VC shares. Morgan Stanley set a $115.00 price objective on Visteon in a research report on Monday, April 27th. Royal Bank Of Canada reduced their target price on Visteon from $140.00 to $127.00 and set an "outperform" rating for the company in a report on Friday, February 20th. Wolfe Research raised Visteon from a "peer perform" rating to an "outperform" rating and set a $135.00 price objective on the stock in a research report on Monday, April 27th. Barclays lifted their price objective on Visteon from $110.00 to $115.00 and gave the stock an "equal weight" rating in a report on Monday, April 27th. Finally, Robert W. Baird upped their target price on shares of Visteon from $112.00 to $121.00 and gave the company an "outperform" rating in a research note on Friday, April 24th. Nine research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $124.42.

Insider Buying and Selling at Visteon

In other Visteon news, CEO Sachin Lawande sold 38,817 shares of the business's stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $113.63, for a total transaction of $4,410,775.71. Following the completion of the sale, the chief executive officer owned 193,822 shares of the company's stock, valued at approximately $22,023,993.86. The trade was a 16.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Seungkyung Kim sold 600 shares of the business's stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $118.96, for a total value of $71,376.00. Following the sale, the senior vice president directly owned 389 shares of the company's stock, valued at $46,275.44. This represents a 60.67% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 100,354 shares of company stock valued at $10,367,708. Company insiders own 2.00% of the company's stock.

Visteon Stock Performance

VC opened at $118.29 on Friday. The company has a current ratio of 1.73, a quick ratio of 1.43 and a debt-to-equity ratio of 0.17. The company has a market cap of $3.16 billion, a price-to-earnings ratio of 14.41, a PEG ratio of 1.49 and a beta of 1.26. The company's 50 day moving average is $102.53 and its 200 day moving average is $99.64. Visteon Corporation has a 12-month low of $81.18 and a 12-month high of $129.10.

Visteon (NASDAQ:VC - Get Free Report) last released its quarterly earnings results on Thursday, April 23rd. The company reported $1.65 earnings per share for the quarter, missing the consensus estimate of $1.96 by ($0.31). Visteon had a return on equity of 15.93% and a net margin of 5.99%.The business had revenue of $954.00 million during the quarter, compared to the consensus estimate of $901.33 million. During the same quarter in the previous year, the business posted $2.47 earnings per share. The firm's revenue was up 2.1% on a year-over-year basis. On average, equities research analysts predict that Visteon Corporation will post 8.54 EPS for the current year.

Visteon Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be given a dividend of $0.375 per share. The ex-dividend date is Monday, June 1st. This represents a $1.50 annualized dividend and a yield of 1.3%. Visteon's payout ratio is 18.27%.

Visteon Company Profile

Visteon Corporation is a global automotive electronics supplier that specializes in designing, engineering and manufacturing cockpit electronics and connected vehicle solutions. The company's product portfolio spans digital instrument clusters, infotainment systems, domain controllers and advanced driver interaction technologies. By integrating hardware, software and services, Visteon aims to deliver complete cockpit electronics platforms that enhance driver experience, safety and connectivity.

Founded in 2000 as a spin-off from Ford Motor Company, Visteon has evolved its focus toward next-generation electronics and software-driven vehicle architectures.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.