Visteon Corporation $VC Shares Bought by Nordea Investment Management AB

Key Points

• Nordea Investment Management AB increased its holdings in Visteon Corporation by 26.5% during the second quarter, now owning approximately 121,610 shares valued at $11.34 million.
• Analysts have raised their price targets for Visteon, with Bank of America setting a new target of $140.00, reflecting optimistic growth expectations.
• Visteon declared a quarterly dividend of $0.275 per share, with a payment set for December 5th, indicating a committed return to shareholders.

Nordea Investment Management AB boosted its holdings in shares of Visteon Corporation (NASDAQ:VC - Free Report) by 26.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 121,610 shares of the company's stock after acquiring an additional 25,467 shares during the quarter. Nordea Investment Management AB owned about 0.45% of Visteon worth $11,343,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. American Century Companies Inc. boosted its position in shares of Visteon by 19.3% during the first quarter. American Century Companies Inc. now owns 1,727,731 shares of the company's stock worth $134,106,000 after buying an additional 279,714 shares during the period. Invesco Ltd. boosted its position in shares of Visteon by 2.2% during the first quarter. Invesco Ltd. now owns 1,210,198 shares of the company's stock worth $93,936,000 after buying an additional 25,687 shares during the period. T. Rowe Price Investment Management Inc. boosted its position in shares of Visteon by 40.2% during the first quarter. T. Rowe Price Investment Management Inc. now owns 546,099 shares of the company's stock worth $42,389,000 after buying an additional 156,567 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Visteon by 4.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 382,341 shares of the company's stock worth $29,677,000 after buying an additional 15,732 shares during the period. Finally, Systematic Financial Management LP boosted its position in shares of Visteon by 5.0% during the first quarter. Systematic Financial Management LP now owns 281,951 shares of the company's stock worth $21,885,000 after buying an additional 13,456 shares during the period. 99.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on VC. Robert W. Baird set a $144.00 price target on Visteon in a research report on Wednesday, September 3rd. Guggenheim raised their price target on Visteon from $134.00 to $143.00 and gave the stock a "buy" rating in a research report on Tuesday, September 9th. Bank of America lifted their target price on Visteon from $130.00 to $140.00 and gave the company a "buy" rating in a report on Wednesday, September 10th. JPMorgan Chase & Co. lifted their target price on Visteon from $101.00 to $104.00 and gave the company a "neutral" rating in a report on Monday, July 28th. Finally, Wall Street Zen upgraded Visteon from a "hold" rating to a "buy" rating in a report on Friday, October 3rd. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $131.00.

Insider Activity at Visteon

In related news, SVP Joao Paulo Ribeiro sold 710 shares of the business's stock in a transaction dated 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. The trade was a 9.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Francis M. Scricco sold 4,350 shares of the business's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $120.53, for a total value of $524,305.50. Following the completion of the transaction, the director owned 2,792 shares in the company, valued at $336,519.76. This trade represents a 60.91% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,102 shares of company stock worth $1,338,295 in the last quarter. Company insiders own 2.00% of the company's stock.

Visteon Stock Down 1.6%

VC opened at $113.78 on Monday. The business's 50-day simple moving average is $121.71 and its 200-day simple moving average is $101.61. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.55 and a current ratio of 1.87. Visteon Corporation has a one year low of $65.10 and a one year high of $129.10. The stock has a market capitalization of $3.10 billion, a P/E ratio of 10.85, a price-to-earnings-growth ratio of 2.71 and a beta of 1.22.

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

Visteon Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Tuesday, November 18th will be given a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 1.0%. The ex-dividend date is Tuesday, November 18th. Visteon's payout ratio is 10.49%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.