T. Rowe Price Investment Management Inc. Increases Stake in Visteon Corporation $VC

Key Points

• T. Rowe Price Investment Management Inc. increased its holdings in Visteon Corporation by 40.2% during the first quarter, acquiring 156,567 additional shares, bringing its total to 546,099 shares valued at approximately $42.4 million.
• Visteon reported $2.39 earnings per share (EPS) for the last quarter, surpassing the consensus estimate of $2.04, with a revenue of $969 million—exceeding analyst expectations but a 4.4% decrease compared to the previous year.
• The company declared a quarterly dividend of $0.275 per share, with a payment date set for September 5th, and a current dividend yield of 0.9%.

T. Rowe Price Investment Management Inc. lifted its holdings in Visteon Corporation (NASDAQ:VC - Free Report) by 40.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 546,099 shares of the company's stock after purchasing an additional 156,567 shares during the quarter. T. Rowe Price Investment Management Inc. owned about 2.00% of Visteon worth $42,389,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Algert Global LLC boosted its position in shares of Visteon by 5.2% in the 1st quarter. Algert Global LLC now owns 68,568 shares of the company's stock worth $5,322,000 after purchasing an additional 3,370 shares in the last quarter. Cresset Asset Management LLC acquired a new stake in shares of Visteon in the 1st quarter worth $210,000. American Century Companies Inc. boosted its position in shares of Visteon by 19.3% in the 1st quarter. American Century Companies Inc. now owns 1,727,731 shares of the company's stock worth $134,106,000 after purchasing an additional 279,714 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Visteon in the 1st quarter worth $84,000. Finally, Russell Investments Group Ltd. boosted its position in shares of Visteon by 15.9% in the 1st quarter. Russell Investments Group Ltd. now owns 21,781 shares of the company's stock worth $1,691,000 after purchasing an additional 2,987 shares in the last quarter. Institutional investors and hedge funds own 99.71% of the company's stock.

Analyst Ratings Changes

VC has been the subject of a number of research reports. Wells Fargo & Company lifted their price target on Visteon from $106.00 to $129.00 and gave the stock an "overweight" rating in a research report on Friday, July 25th. JPMorgan Chase & Co. lifted their price target on Visteon from $101.00 to $104.00 and gave the stock a "neutral" rating in a research report on Monday, July 28th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Visteon in a report on Friday, July 25th. Wall Street Zen upgraded Visteon from a "hold" rating to a "buy" rating in a research report on Sunday. Finally, Morgan Stanley raised their price target on shares of Visteon from $90.00 to $95.00 and gave the stock an "equal weight" rating in a research report on Tuesday, August 12th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Visteon currently has an average rating of "Moderate Buy" and an average price target of $116.00.

Visteon Trading Down 0.7%

VC traded down $0.89 on Wednesday, hitting $126.61. The company had a trading volume of 304,963 shares, compared to its average volume of 377,573. The company's fifty day moving average price is $109.54 and its 200 day moving average price is $91.35. Visteon Corporation has a 1 year low of $65.10 and a 1 year high of $128.32. The company has a current ratio of 1.87, a quick ratio of 1.55 and a debt-to-equity ratio of 0.19. The firm has a market cap of $3.45 billion, a P/E ratio of 12.07, a PEG ratio of 4.87 and a beta of 1.22.

Visteon (NASDAQ:VC - Get Free Report) last announced its earnings results on Thursday, July 24th. The company reported $2.39 earnings per share for the quarter, topping the consensus estimate of $2.04 by $0.35. The company had revenue of $969.00 million during the quarter, compared to analyst estimates of $943.12 million. Visteon had a net margin of 7.61% and a return on equity of 23.22%. Visteon's revenue was down 4.4% compared to the same quarter last year. During the same quarter last year, the firm posted $2.54 earnings per share. Visteon has set its FY 2025 guidance at EPS. As a group, equities analysts expect that Visteon Corporation will post 8.42 earnings per share for the current year.

Visteon Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 5th. Stockholders of record on Monday, August 18th will be paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Monday, August 18th. Visteon's payout ratio is 10.49%.

Insiders Place Their Bets

In other Visteon news, SVP Robert R. Vallance sold 2,000 shares of the company's stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $100.15, for a total transaction of $200,300.00. Following the transaction, the senior vice president directly owned 20,838 shares in the company, valued at $2,086,925.70. This represents a 8.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Joao Paulo Ribeiro sold 710 shares of the company's stock in a transaction on Monday, July 28th. The stock was sold at an average price of $115.09, for a total value of $81,713.90. Following the transaction, the senior vice president owned 6,698 shares in the company, valued at $770,872.82. This trade represents a 9.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 13,102 shares of company stock worth $1,538,595 over the last ninety days. Corporate insiders own 2.00% of the company's stock.

About Visteon

Visteon Corporation, an automotive technology company, designs, manufactures, and sells automotive electronics and connected car solutions for vehicle manufacturers worldwide. The company provides instrument clusters, including analog gauge clusters for 2-D and 3-D display-based devices; information displays that integrate a range of user interface technologies and graphics management capabilities, such as active privacy, TrueColor enhancement, local dimming, cameras, optics, haptic feedback, and light effects; and infotainment and connected car solutions, including scalable Android infotainment for seamless connectivity, as well as onboard artificial intelligence-based voice assistants with natural language understanding.