Royal Bank of Canada Grows Position in Visteon Corporation $VC

Key Points

• Royal Bank of Canada more than doubled its Visteon stake in the first quarter, increasing ownership by 103.2% to 45,410 shares worth approximately $4.14 million. Institutional investors collectively own 99.71% of Visteon.
• Visteon reported quarterly EPS of $1.91, missing estimates of $2.21, while revenue of $960 million slightly exceeded expectations. Revenue declined 0.9% year over year, and analysts project full-year EPS of $8.41.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $135.54 versus the stock’s recent price near $107.25. Visteon also pays a quarterly dividend of $0.375, equal to a 1.4% annualized yield.

Royal Bank of Canada raised its stake in shares of Visteon Corporation (NASDAQ:VC - Free Report) by 103.2% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 45,410 shares of the company's stock after purchasing an additional 23,066 shares during the period. Royal Bank of Canada owned 0.17% of Visteon worth $4,137,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Dimensional Fund Advisors LP lifted its position in shares of Visteon by 14.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,403,695 shares of the company's stock valued at $127,879,000 after buying an additional 175,679 shares in the last quarter. Victory Capital Management Inc. increased its holdings in Visteon by 16.3% in the 4th 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 in the last quarter. Invesco Ltd. increased its holdings in Visteon by 8.4% in the 4th quarter. Invesco Ltd. now owns 1,253,628 shares of the company's stock worth $119,220,000 after acquiring an additional 97,100 shares in the last quarter. State Street Corp raised its stake in Visteon by 3.1% during the 2nd quarter. State Street Corp now owns 1,107,091 shares of the company's stock worth $103,292,000 after acquiring an additional 33,155 shares during the period. Finally, Wellington Management Group LLP raised its stake in Visteon by 5.2% during the 4th quarter. Wellington Management Group LLP now owns 844,065 shares of the company's stock worth $80,271,000 after acquiring an additional 41,922 shares during the period. Hedge funds and other institutional investors own 99.71% of the company's stock.

Visteon Trading Up 0.8%

VC stock opened at $107.25 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.78 and a quick ratio of 1.45. Visteon Corporation has a 1-year low of $83.49 and a 1-year high of $129.10. The business has a 50 day simple moving average of $107.83 and a two-hundred day simple moving average of $103.02. The company has a market capitalization of $2.86 billion, a price-to-earnings ratio of 14.02, a PEG ratio of 0.69 and a beta of 1.29.

Visteon (NASDAQ:VC - Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. The company reported $1.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.21 by ($0.30). Visteon had a net margin of 5.58% and a return on equity of 14.61%. The company had revenue of $960.00 million for the quarter, compared to the consensus estimate of $955.78 million. During the same quarter in the previous year, the business earned $2.39 EPS. The company's quarterly revenue was down .9% on a year-over-year basis. Research analysts anticipate that Visteon Corporation will post 8.41 EPS for the current fiscal year.

Visteon Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were issued a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date was Monday, June 1st. Visteon's payout ratio is currently 19.61%.

Insiders Place Their Bets

In other news, SVP Robert R. Vallance sold 1,000 shares of the firm's stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $119.40, for a total transaction of $119,400.00. Following the completion of the transaction, the senior vice president owned 17,469 shares in the company, valued at $2,085,798.60. This trade represents a 5.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Brett D. Pynnonen sold 5,000 shares of Visteon stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $120.00, for a total value of $600,000.00. Following the completion of the sale, the senior vice president directly owned 8,503 shares in the company, valued at $1,020,360. This trade represents a 37.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 8,600 shares of company stock worth $1,023,776 in the last 90 days. 2.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on VC. Morgan Stanley upped their price target on shares of Visteon from $115.00 to $130.00 and gave the stock an "equal weight" rating in a research report on Friday, June 26th. The Goldman Sachs Group raised their price objective on shares of Visteon from $106.00 to $118.00 and gave the company a "buy" rating in a research report on Thursday, April 23rd. Royal Bank Of Canada lowered their target price on shares of Visteon from $130.00 to $129.00 and set an "outperform" rating on the stock in a research note on Friday, July 24th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Visteon from $133.00 to $132.00 and set a "buy" rating for the company in a report on Thursday, July 9th. Finally, JPMorgan Chase & Co. increased their price target on Visteon from $168.00 to $170.00 and gave the stock an "overweight" rating in a research note on Monday. Ten research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $135.54.

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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