Meeder Asset Management Inc. Lowers Holdings in Visteon Corporation $VC

Key Points

• Meeder Asset Management cut its Visteon stake by 66.9% in the first quarter, selling 11,661 shares and leaving it with 5,777 shares worth about $526,000.
• Visteon reported Q1 earnings of $1.65 per share, missing analysts’ expectations, even though revenue came in above estimates at $954 million and rose 2.1% year over year.
• Despite mixed results and some insider selling, Wall Street remains broadly constructive on the stock, with 11 Buy ratings, 4 Hold ratings, and a consensus price target of $135.46.

Meeder Asset Management Inc. trimmed its holdings in Visteon Corporation (NASDAQ:VC - Free Report) by 66.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,777 shares of the company's stock after selling 11,661 shares during the quarter. Meeder Asset Management Inc.'s holdings in Visteon were worth $526,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Dimensional Fund Advisors LP lifted its holdings in shares of Visteon by 14.3% in the first quarter. Dimensional Fund Advisors LP now owns 1,403,695 shares of the company's stock worth $127,879,000 after buying an additional 175,679 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Visteon by 16.3% during the fourth quarter. Victory Capital Management Inc. now owns 1,334,406 shares of the company's stock worth $126,902,000 after acquiring an additional 187,347 shares during the last quarter. Invesco Ltd. grew its stake in Visteon by 8.4% during the fourth quarter. Invesco Ltd. now owns 1,253,628 shares of the company's stock valued at $119,220,000 after acquiring an additional 97,100 shares in the last quarter. State Street Corp grew its stake in Visteon by 3.1% during the second quarter. State Street Corp now owns 1,107,091 shares of the company's stock valued at $103,292,000 after acquiring an additional 33,155 shares in the last quarter. Finally, Wellington Management Group LLP increased its holdings in Visteon by 5.2% in the 4th quarter. Wellington Management Group LLP now owns 844,065 shares of the company's stock valued at $80,271,000 after acquiring an additional 41,922 shares during the last quarter. 99.71% of the stock is owned by hedge funds and other institutional investors.

Visteon Stock Performance

NASDAQ VC opened at $101.61 on Tuesday. The business's 50 day moving average price is $111.59 and its 200-day moving average price is $102.06. Visteon Corporation has a fifty-two week low of $83.49 and a fifty-two week high of $129.10. The company has a market cap of $2.71 billion, a P/E ratio of 12.38, a P/E/G ratio of 0.79 and a beta of 1.29. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.43 and a current ratio of 1.73.

Visteon (NASDAQ:VC - Get Free Report) last issued its quarterly earnings results on Thursday, April 23rd. The company reported $1.65 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.96 by ($0.31). Visteon had a return on equity of 15.93% and a net margin of 5.99%.The company had revenue of $954.00 million during the quarter, compared to the consensus estimate of $901.33 million. During the same quarter in the prior year, the business earned $2.47 earnings per share. The firm's quarterly revenue was up 2.1% compared to the same quarter last year. Sell-side analysts predict that Visteon Corporation will post 8.67 earnings per share for the current year.

Visteon Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were paid a dividend of $0.375 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.5%. Visteon's payout ratio is currently 18.27%.

Insider Activity

In related news, SVP Seungkyung Kim sold 600 shares of the 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Sachin Lawande sold 38,817 shares of the firm'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 directly 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 position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 58,901 shares of company stock worth $6,699,220 in the last 90 days. Company insiders own 2.00% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have commented on VC shares. Wells Fargo & Company decreased their price target on shares of Visteon from $139.00 to $137.00 and set an "overweight" rating on the stock in a research note on Thursday, June 25th. Wall Street Zen cut Visteon from a "buy" rating to a "hold" rating in a report on Sunday, July 12th. UBS Group boosted their target price on Visteon from $120.00 to $130.00 and gave the stock a "buy" rating in a research report on Friday, April 24th. Deutsche Bank Aktiengesellschaft dropped their price target on Visteon from $133.00 to $132.00 and set a "buy" rating for the company in a research note on Thursday, July 9th. Finally, TD Cowen lifted their price objective on Visteon from $130.00 to $135.00 and gave the stock a "buy" rating in a research note on Monday, June 29th. Eleven equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $135.46.

Visteon 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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