Principal Financial Group Inc. Decreases Stake in Visteon Corporation (NASDAQ:VC)

Principal Financial Group Inc. lessened its holdings in Visteon Corporation (NASDAQ:VC - Free Report) by 1.9% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 262,812 shares of the company's stock after selling 5,154 shares during the period. Principal Financial Group Inc. owned about 0.97% of Visteon worth $20,399,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Charles Schwab Investment Management Inc. lifted its position in Visteon by 7.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 366,609 shares of the company's stock worth $32,526,000 after buying an additional 25,319 shares during the last quarter. M&T Bank Corp lifted its position in shares of Visteon by 45.8% during the fourth quarter. M&T Bank Corp now owns 3,232 shares of the company's stock worth $287,000 after purchasing an additional 1,015 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in shares of Visteon during the fourth quarter worth $2,645,000. Raymond James Financial Inc. bought a new stake in shares of Visteon during the fourth quarter worth $10,170,000. Finally, Wealthfront Advisers LLC bought a new stake in shares of Visteon during the fourth quarter worth $1,376,000. Institutional investors own 99.71% of the company's stock.

Visteon Stock Performance

NASDAQ:VC traded up $2.44 during mid-day trading on Friday, reaching $110.73. 855,833 shares of the stock were exchanged, compared to its average volume of 337,290. The company has a 50 day simple moving average of $90.14 and a 200-day simple moving average of $84.58. The stock has a market capitalization of $3.02 billion, a P/E ratio of 10.38 and a beta of 1.21. The company has a quick ratio of 1.50, a current ratio of 1.83 and a debt-to-equity ratio of 0.21. Visteon Corporation has a 1 year low of $65.10 and a 1 year high of $117.94.

Visteon (NASDAQ:VC - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The company reported $2.40 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.70 by $0.70. Visteon had a return on equity of 24.95% and a net margin of 7.68%. The firm had revenue of $934.00 million for the quarter, compared to the consensus estimate of $906.38 million. During the same quarter last year, the business posted $1.61 EPS. The firm's quarterly revenue was up .1% compared to the same quarter last year. Analysts anticipate that Visteon Corporation will post 8.42 earnings per share for the current fiscal year.

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, July 2nd. The stock was sold at an average price of $100.15, for a total value of $200,300.00. Following the transaction, the senior vice president directly owned 20,838 shares in the company, valued at approximately $2,086,925.70. This trade represents a 8.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 2.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Guggenheim decreased their price objective on Visteon from $108.00 to $91.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Wolfe Research upgraded Visteon from a "peer perform" rating to an "outperform" rating and set a $123.00 price objective for the company in a report on Wednesday, July 2nd. JPMorgan Chase & Co. lifted their price objective on Visteon from $90.00 to $97.00 and gave the company a "neutral" rating in a report on Monday, May 5th. UBS Group restated a "neutral" rating and issued a $76.00 price objective (down from $114.00) on shares of Visteon in a report on Thursday, April 10th. Finally, Morgan Stanley decreased their price objective on Visteon from $95.00 to $90.00 and set an "equal weight" rating for the company in a report on Monday, May 19th. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $105.23.

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.