SBI Okasan Asset Management Co.Ltd. Takes $1.56 Million Position in Visteon Corporation $VC

Key Points

• SBI Okasan Asset Management opened a new position in Visteon during the fourth quarter, buying 16,300 shares valued at about $1.56 million.
• Visteon reported quarterly EPS of $1.65, below expectations, while revenue came in at $954 million, above analyst forecasts and up 2.1% year over year.
• The company also declared a quarterly dividend of $0.375 per share, or $1.50 annually, and analysts currently have a Moderate Buy consensus with a $124.42 price target.

SBI Okasan Asset Management Co.Ltd. purchased a new stake in Visteon Corporation (NASDAQ:VC - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 16,300 shares of the company's stock, valued at approximately $1,562,000. SBI Okasan Asset Management Co.Ltd. owned approximately 0.06% of Visteon at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in VC. Royal Bank of Canada raised its holdings in Visteon by 389.3% during the 1st quarter. Royal Bank of Canada now owns 21,992 shares of the company's stock worth $1,707,000 after purchasing an additional 17,497 shares during the last quarter. Goldman Sachs Group Inc. grew its position 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 buying an additional 59,764 shares during the period. Amundi grew its position in Visteon by 1.3% in the 2nd quarter. Amundi now owns 6,862 shares of the company's stock valued at $706,000 after purchasing an additional 86 shares during the period. Jump Financial LLC grew its position in 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 acquired a new stake in Visteon in the 2nd quarter valued at $1,150,000. Institutional investors own 99.71% of the company's stock.

Visteon Trading Up 1.1%

NASDAQ VC opened at $119.12 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. Visteon Corporation has a 12 month low of $81.18 and a 12 month high of $129.10. The stock has a market cap of $3.18 billion, a P/E ratio of 14.51, a P/E/G ratio of 1.48 and a beta of 1.26. The stock's fifty day moving average price is $101.85 and its 200-day moving average price is $99.51.

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

Visteon Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research firms have issued reports on VC. Wells Fargo & Company cut their price objective on shares of Visteon from $125.00 to $124.00 and set an "overweight" rating on the stock in a report on Tuesday, March 31st. Weiss Ratings upgraded Visteon from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, May 1st. The Goldman Sachs Group upped their price target on Visteon from $106.00 to $118.00 and gave the company a "buy" rating in a research report on Thursday, April 23rd. Morgan Stanley set a $115.00 price objective on Visteon in a report on Monday, April 27th. Finally, Royal Bank Of Canada cut their price objective on Visteon from $140.00 to $127.00 and set an "outperform" rating for the company in a report on Friday, February 20th. Nine equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $124.42.

Insider Activity at Visteon

In related news, CAO Colleen Elizabeth Myers sold 475 shares of Visteon stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $110.92, for a total transaction of $52,687.00. Following the sale, the chief accounting officer owned 241 shares of the company's stock, valued at approximately $26,731.72. This trade represents a 66.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sachin Lawande sold 38,817 shares of the firm's stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $113.63, for a total value of $4,410,775.71. Following the transaction, the chief executive officer owned 193,822 shares of the company's stock, valued at $22,023,993.86. This represents a 16.69% decrease in their position. 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 99,754 shares of company stock worth $10,296,332 in the last three months. 2.00% of the stock is owned by corporate insiders.

About Visteon

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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