Vanguard Group Inc. Decreases Stake in Visteon Corporation $VC

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Vanguard Group Inc. reduced its position in Visteon Corporation (NASDAQ:VC - Free Report) by 0.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,882,823 shares of the company's stock after selling 26,394 shares during the period. Vanguard Group Inc. owned approximately 10.58% of Visteon worth $223,765,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. raised its stake in shares of Visteon by 9.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,199 shares of the company's stock valued at $248,000 after purchasing an additional 265 shares in the last quarter. Alberta Investment Management Corp acquired a new stake in shares of Visteon in the 1st quarter valued at about $272,000. US Bancorp DE raised its stake in shares of Visteon by 3.0% in the 1st quarter. US Bancorp DE now owns 8,111 shares of the company's stock valued at $630,000 after purchasing an additional 239 shares in the last quarter. Bayforest Capital Ltd acquired a new stake in shares of Visteon in the 1st quarter valued at about $712,000. Finally, GSA Capital Partners LLP acquired a new stake in shares of Visteon in the 1st quarter valued at about $742,000. 99.71% of the stock is owned by hedge funds and other institutional investors.

Visteon Stock Down 0.3%

Visteon stock opened at $120.59 on Tuesday. The company has a market capitalization of $3.29 billion, a P/E ratio of 11.50, a P/E/G ratio of 4.68 and a beta of 1.22. The firm's fifty day simple moving average is $105.62 and its 200-day simple moving average is $89.65. The company has a current ratio of 1.87, a quick ratio of 1.55 and a debt-to-equity ratio of 0.19. Visteon Corporation has a 1-year low of $65.10 and a 1-year high of $123.78.

Visteon (NASDAQ:VC - Get Free Report) last posted its earnings results on Thursday, July 24th. The company reported $2.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.04 by $0.35. Visteon had a net margin of 7.61% and a return on equity of 23.22%. The business had revenue of $969.00 million for the quarter, compared to analyst estimates of $943.12 million. During the same period last year, the business posted $2.54 EPS. Visteon's revenue was down 4.4% compared to the same quarter last year. Sell-side analysts forecast that Visteon Corporation will post 8.42 earnings per share for the current fiscal year.

Visteon Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Monday, August 18th will be given a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 0.9%. The ex-dividend date is Monday, August 18th.

Analysts Set New Price Targets

VC has been the topic of several research reports. UBS Group reiterated a "buy" rating and set a $146.00 price objective (up previously from $142.00) on shares of Visteon in a research note on Friday, July 25th. Morgan Stanley increased their price objective on shares of Visteon from $90.00 to $95.00 and gave the stock an "equal weight" rating in a research note on Tuesday, August 12th. Wells Fargo & Company raised their price target on shares of Visteon from $106.00 to $129.00 and gave the company an "overweight" rating in a research note on Friday, July 25th. Wolfe Research upgraded shares of Visteon from a "peer perform" rating to an "outperform" rating and set a $123.00 price target on the stock in a research note on Wednesday, July 2nd. Finally, The Goldman Sachs Group restated a "buy" rating on shares of Visteon in a research note on Friday, July 25th. Four analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Visteon currently has an average rating of "Moderate Buy" and a consensus price target of $116.00.

Insider Buying and Selling at Visteon

In other Visteon news, SVP Robert R. Vallance sold 2,000 shares of Visteon stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $120.00, for a total transaction of $240,000.00. Following the sale, the senior vice president directly owned 18,838 shares of the company's stock, valued at approximately $2,260,560. The trade was a 9.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Joao Paulo Ribeiro sold 710 shares of Visteon stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $115.09, for a total value of $81,713.90. Following the sale, the senior vice president directly owned 6,698 shares in the company, valued at $770,872.82. The trade was a 9.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,710 shares of company stock worth $522,014 over the last 90 days. Company insiders own 2.00% of the company's stock.

Visteon Profile

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.

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