Massachusetts Financial Services Co. MA Sells 102,989 Shares of Visteon Corporation $VC

Key Points

• Massachusetts Financial Services Co. cut its Visteon stake by 14.3%, selling 102,989 shares and now holds 615,051 shares (about 2.25% of the company) valued at roughly $58.49 million.
• CEO Sachin Lawande sold 49,453 Visteon shares on March 4 at an average $93.44 (about $4.62 million), reducing his ownership by 21.98% to 175,527 shares.
• Visteon beat quarterly expectations with EPS $2.96 vs. $2.08 and revenue $948M vs. $920.25M, and raised its quarterly dividend to $0.375 ($1.50 annual, ~1.6% yield).

Massachusetts Financial Services Co. MA lowered its position in Visteon Corporation (NASDAQ:VC - Free Report) by 14.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 615,051 shares of the company's stock after selling 102,989 shares during the quarter. Massachusetts Financial Services Co. MA owned about 2.25% of Visteon worth $58,491,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in VC. Cullen Frost Bankers Inc. bought a new position in shares of Visteon in the third quarter worth $30,000. USA Financial Formulas bought a new position in Visteon in the third quarter valued at $44,000. Plato Investment Management Ltd bought a new position in Visteon in the third quarter valued at $48,000. Hantz Financial Services Inc. increased its stake in Visteon by 72.0% in the third quarter. Hantz Financial Services Inc. now owns 423 shares of the company's stock valued at $51,000 after acquiring an additional 177 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd bought a new position in Visteon in the third quarter valued at $54,000. Institutional investors own 99.71% of the company's stock.

Insider Activity

In other news, CEO Sachin Lawande sold 49,453 shares of the firm's stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $93.44, for a total transaction of $4,620,888.32. Following the transaction, the chief executive officer directly owned 175,527 shares of the company's stock, valued at approximately $16,401,242.88. This trade represents a 21.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on VC shares. Deutsche Bank Aktiengesellschaft set a $117.00 target price on Visteon in a research note on Friday, February 20th. UBS Group reduced their target price on Visteon from $130.00 to $120.00 and set a "buy" rating on the stock in a research note on Friday, February 20th. Wall Street Zen cut Visteon from a "buy" rating to a "hold" rating in a research note on Saturday, April 4th. Royal Bank Of Canada reduced their target price on Visteon from $140.00 to $127.00 and set an "outperform" rating on the stock in a research note on Friday, February 20th. Finally, The Goldman Sachs Group set a $120.00 target price on Visteon in a research note on Thursday, January 15th. Eight equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $122.25.

Visteon Stock Up 0.3%

Shares of NASDAQ:VC opened at $93.74 on Wednesday. The stock's 50-day moving average price is $93.80 and its 200-day moving average price is $100.12. Visteon Corporation has a 12-month low of $67.32 and a 12-month high of $129.10. The stock has a market capitalization of $2.51 billion, a P/E ratio of 9.94, a price-to-earnings-growth ratio of 1.14 and a beta of 1.15. The company has a current ratio of 1.80, a quick ratio of 1.53 and a debt-to-equity ratio of 0.17.

Visteon (NASDAQ:VC - Get Free Report) last announced its quarterly earnings data on Thursday, February 19th. The company reported $2.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.08 by $0.88. Visteon had a return on equity of 17.94% and a net margin of 6.93%.The firm had revenue of $948.00 million for the quarter, compared to analysts' expectations of $920.25 million. During the same period last year, the firm earned $4.44 earnings per share. The company's revenue for the quarter was up 1.0% compared to the same quarter last year. On average, equities analysts anticipate that Visteon Corporation will post 8.42 earnings per share for the current year.

Visteon Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 2nd were paid a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.6%. This is an increase from Visteon's previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Monday, March 2nd. Visteon's payout ratio is 15.91%.

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.

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