Integrated Wealth Concepts LLC Invests $3.06 Million in Visteon Corporation $VC

Key Points

• Integrated Wealth Concepts LLC acquired 30,814 Visteon shares worth approximately $3.06 million in the second quarter, while institutional investors collectively owned 99.71% of the company.
• Visteon reported quarterly earnings of $1.91 per share, missing the $2.21 consensus estimate, although revenue of $960 million slightly exceeded expectations. Revenue declined 0.9% year over year.
• The company declared a quarterly dividend of $0.375 per share, representing a $1.50 annualized payout and a 1.5% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $134.45 versus the stock’s $100.93 opening price.

Integrated Wealth Concepts LLC acquired a new stake in Visteon Corporation (NASDAQ:VC - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 30,814 shares of the company's stock, valued at approximately $3,057,000. Integrated Wealth Concepts LLC owned about 0.12% of Visteon at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in VC. Royal Bank of Canada raised its position in Visteon by 389.3% during the first quarter. Royal Bank of Canada now owns 21,992 shares of the company's stock worth $1,707,000 after acquiring an additional 17,497 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Visteon by 31.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 249,564 shares of the company's stock worth $19,371,000 after purchasing an additional 59,764 shares during the last quarter. Amundi increased its stake in shares of Visteon by 1.3% during the 2nd quarter. Amundi now owns 6,862 shares of the company's stock worth $706,000 after purchasing an additional 86 shares during the last quarter. Jump Financial LLC raised its holdings in shares of Visteon by 43.0% in the 2nd quarter. Jump Financial LLC now owns 16,833 shares of the company's stock valued at $1,571,000 after purchasing an additional 5,059 shares during the period. Finally, Cerity Partners LLC bought a new stake in shares of Visteon in the 2nd quarter valued at about $1,150,000. 99.71% of the stock is owned by institutional investors.

Visteon Stock Performance

Shares of VC stock opened at $100.93 on Monday. Visteon Corporation has a 52 week low of $83.49 and a 52 week high of $128.87. The company has a market capitalization of $2.69 billion, a price-to-earnings ratio of 13.19, a PEG ratio of 0.65 and a beta of 1.30. The company has a 50-day simple moving average of $104.17 and a 200 day simple moving average of $103.79. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.45 and a current ratio of 1.78.

Visteon (NASDAQ:VC - Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. The company reported $1.91 earnings per share for the quarter, missing the consensus estimate of $2.21 by ($0.30). The company had revenue of $960.00 million during the quarter, compared to the consensus estimate of $955.78 million. Visteon had a net margin of 5.58% and a return on equity of 14.61%. The firm's revenue was down .9% compared to the same quarter last year. During the same period in the prior year, the company earned $2.39 earnings per share. On average, sell-side analysts predict that Visteon Corporation will post 8.41 earnings per share for the current year.

Visteon Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be issued a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Tuesday, September 1st. Visteon's dividend payout ratio (DPR) is presently 19.61%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Wells Fargo & Company reduced their price target on Visteon from $137.00 to $134.00 and set an "overweight" rating for the company in a report on Friday, July 24th. Robert W. Baird restated a "neutral" rating and issued a $121.00 price objective on shares of Visteon in a research note on Friday, June 26th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Visteon in a research report on Wednesday, July 29th. TD Cowen lifted their target price on Visteon from $130.00 to $135.00 and gave the stock a "buy" rating in a research note on Monday, June 29th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Visteon from $133.00 to $132.00 and set a "buy" rating on the stock in a report on Thursday, July 9th. Eight research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $134.45.

Visteon Company Profile

Visteon Corporation NASDAQ: VC is a global automotive technology company that develops and supplies electronic products and software for vehicle manufacturers. Its solutions are designed to support the transition toward connected, digital and software-defined vehicles.

The company's product portfolio includes digital instrument clusters, vehicle information displays, infotainment systems, cockpit domain controllers and connected-car technologies. Visteon also develops battery-management systems and other electronics used in electric and hybrid vehicles, as well as climate-control and thermal-management electronics for automotive applications.

Visteon was established in 2000 after being spun off from Ford Motor Company and is headquartered in Van Buren Township, Michigan.

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