Visteon Corporation $VC Shares Sold by Legato Capital Management LLC

Key Points

• Legato Capital Management cut its Visteon stake by 76.4% in the fourth quarter, leaving it with 5,247 shares worth about $499,000. The filing highlights that institutional ownership remains very high at 99.71%.
• Visteon insiders have also been selling shares, including CEO Sachin Lawande and CAO Colleen Elizabeth Myers. Over the last three months, insiders sold a total of 99,754 shares valued at about $10.3 million.
• Analysts remain broadly positive on the stock despite mixed earnings results: Visteon missed EPS estimates in its latest quarter but beat revenue expectations. The consensus rating is Moderate Buy, with an average price target of $124.42, and the company recently announced a quarterly dividend of $0.375 per share.

Legato Capital Management LLC reduced its position in shares of Visteon Corporation (NASDAQ:VC - Free Report) by 76.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,247 shares of the company's stock after selling 16,978 shares during the period. Legato Capital Management LLC's holdings in Visteon were worth $499,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC raised its holdings in Visteon by 144.1% during the fourth quarter. Farther Finance Advisors LLC now owns 288 shares of the company's stock worth $27,000 after purchasing an additional 170 shares in the last quarter. Cullen Frost Bankers Inc. purchased a new position in Visteon in the third quarter valued at about $30,000. Plato Investment Management Ltd acquired a new stake in shares of Visteon in the third quarter valued at approximately $48,000. Hantz Financial Services Inc. grew its position in shares of Visteon by 72.0% in the third quarter. Hantz Financial Services Inc. now owns 423 shares of the company's stock valued at $51,000 after purchasing an additional 177 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd acquired a new stake in shares of Visteon in the third quarter valued at approximately $54,000. 99.71% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Visteon

In other Visteon news, CEO Sachin Lawande sold 49,453 shares of the business's stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $93.44, for a total transaction of $4,620,888.32. Following the sale, the chief executive officer directly owned 175,527 shares in the company, valued at approximately $16,401,242.88. The trade was a 21.98% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Colleen Elizabeth Myers sold 475 shares of the business's stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $110.92, for a total transaction of $52,687.00. Following the sale, the chief accounting officer owned 241 shares in the company, valued at $26,731.72. This trade represents a 66.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 99,754 shares of company stock valued at $10,296,332 over the last three months. 2.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Robert W. Baird raised their target price on shares of Visteon from $112.00 to $121.00 and gave the stock an "outperform" rating in a research report on Friday, April 24th. Weiss Ratings upgraded shares of Visteon from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday, May 1st. Deutsche Bank Aktiengesellschaft set a $117.00 target price on shares of Visteon in a research note on Friday, February 20th. Wells Fargo & Company cut their target price on shares of Visteon from $125.00 to $124.00 and set an "overweight" rating on the stock in a research note on Tuesday, March 31st. Finally, Royal Bank Of Canada cut their target price on shares of Visteon from $140.00 to $127.00 and set an "outperform" rating on the stock in a research note on Friday, February 20th. Nine investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $124.42.

Visteon Price Performance

VC opened at $116.66 on Wednesday. Visteon Corporation has a 1-year low of $81.18 and a 1-year high of $129.10. The company has a 50-day moving average of $100.67 and a 200-day moving average of $99.32. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.43 and a current ratio of 1.73. The company has a market capitalization of $3.11 billion, a P/E ratio of 14.21, a PEG ratio of 1.43 and a beta of 1.26.

Visteon (NASDAQ:VC - Get Free Report) last posted its quarterly earnings results on Thursday, April 23rd. The company reported $1.65 EPS for the quarter, missing the consensus estimate of $1.96 by ($0.31). Visteon had a net margin of 5.99% and a return on equity of 15.93%. The business had revenue of $954.00 million during the quarter, compared to analyst estimates of $901.33 million. During the same period last year, the firm posted $2.47 earnings per share. The company's quarterly revenue was up 2.1% on a year-over-year basis. Equities analysts expect that Visteon Corporation will post 8.54 EPS for the current fiscal year.

Visteon Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be paid a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Monday, June 1st. Visteon's payout ratio is presently 18.27%.

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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