Visteon Corporation $VC Shares Purchased by Engineers Gate Manager LP

Key Points

• Engineers Gate Manager LP increased its Visteon stake by 60.9% in the second quarter, acquiring 33,612 additional shares for a total of 88,766 shares valued at approximately $8.8 million. Institutional investors collectively own 99.71% of the company.
• Visteon reported quarterly EPS of $1.91, below the $2.21 analyst consensus, while revenue of $960 million slightly exceeded expectations but declined 0.9% year over year.
• The company declared a quarterly dividend of $0.375, representing a 1.5% annualized yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $134.45, well above the reported share price of $100.56.

Engineers Gate Manager LP grew its stake in shares of Visteon Corporation (NASDAQ:VC - Free Report) by 60.9% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 88,766 shares of the company's stock after buying an additional 33,612 shares during the period. Engineers Gate Manager LP owned 0.33% of Visteon worth $8,806,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. California State Teachers Retirement System boosted its position in Visteon by 9,536.7% during the second quarter. California State Teachers Retirement System now owns 3,150,910 shares of the company's stock worth $312,602,000 after acquiring an additional 3,118,213 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in Visteon in the 2nd quarter valued at $31,654,000. First Trust Advisors LP lifted its stake in shares of Visteon by 124.0% during the 1st quarter. First Trust Advisors LP now owns 519,041 shares of the company's stock worth $47,290,000 after purchasing an additional 287,359 shares during the period. Boston Partners purchased a new position in shares of Visteon during the 4th quarter worth $25,342,000. Finally, Squarepoint Ops LLC acquired a new stake in shares of Visteon during the fourth quarter worth $22,361,000. 99.71% of the stock is currently owned by hedge funds and other institutional investors.

Visteon Trading Up 0.9%

Shares of VC opened at $100.56 on Friday. Visteon Corporation has a 12 month low of $83.49 and a 12 month high of $128.87. The stock's 50-day moving average is $104.20 and its two-hundred day moving average is $103.75. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.78 and a quick ratio of 1.45. The stock has a market cap of $2.68 billion, a PE ratio of 13.15, a P/E/G ratio of 0.64 and a beta of 1.30.

Visteon (NASDAQ:VC - Get Free Report) last announced its earnings results on Thursday, July 23rd. The company reported $1.91 EPS for the quarter, missing the consensus estimate of $2.21 by ($0.30). The company had revenue of $960.00 million for the quarter, compared to analysts' expectations of $955.78 million. Visteon had a net margin of 5.58% and a return on equity of 14.61%. The business's quarterly revenue was down .9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.39 earnings per share. Equities analysts forecast that Visteon Corporation will post 8.41 earnings per share for the current fiscal year.

Visteon Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be paid a $0.375 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $1.50 annualized dividend and a dividend yield of 1.5%. Visteon's dividend payout ratio is 19.61%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Barclays upgraded Visteon from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $115.00 to $145.00 in a report on Monday, June 22nd. Wells Fargo & Company lowered their target price on shares of Visteon from $137.00 to $134.00 and set an "overweight" rating for the company in a report on Friday, July 24th. Wolfe Research lowered shares of Visteon from an "outperform" rating to a "peer perform" rating in a research report on Tuesday, July 28th. Robert W. Baird reaffirmed a "neutral" rating and set a $121.00 price target on shares of Visteon in a research note on Friday, June 26th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Visteon from $168.00 to $170.00 and gave the company an "overweight" rating in a report on Monday, August 10th. Eight analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $134.45.

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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