Washington Capital Management Inc. Sells 3,750 Shares of Visteon Corporation $VC

Key Points

• Washington Capital Management Inc. has sold 3,750 shares of Visteon Corporation, reducing its holdings by 50% to a total worth of $350,000.
• Institutional investors hold 99.71% of Visteon's shares, with several firms increasing their stakes significantly during the recent quarters.
• Visteon reported $2.39 EPS for the last quarter, exceeding analyst expectations while also announcing a quarterly dividend of $0.275 per share.

Washington Capital Management Inc. reduced its position in shares of Visteon Corporation (NASDAQ:VC - Free Report) by 50.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,750 shares of the company's stock after selling 3,750 shares during the period. Washington Capital Management Inc.'s holdings in Visteon were worth $350,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Fifth Third Bancorp boosted its holdings in shares of Visteon by 111.5% during the 2nd quarter. Fifth Third Bancorp now owns 387 shares of the company's stock worth $36,000 after buying an additional 204 shares during the period. UMB Bank n.a. raised its stake in Visteon by 286.7% during the 1st quarter. UMB Bank n.a. now owns 437 shares of the company's stock valued at $34,000 after purchasing an additional 324 shares during the last quarter. Parallel Advisors LLC raised its stake in Visteon by 558.9% during the 1st quarter. Parallel Advisors LLC now owns 481 shares of the company's stock valued at $37,000 after purchasing an additional 408 shares during the last quarter. GAMMA Investing LLC raised its stake in Visteon by 238.0% during the 2nd quarter. GAMMA Investing LLC now owns 605 shares of the company's stock valued at $56,000 after purchasing an additional 426 shares during the last quarter. Finally, CX Institutional acquired a new position in Visteon during the 1st quarter valued at $63,000. 99.71% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, SVP Robert R. Vallance sold 2,000 shares of the stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $120.00, for a total transaction of $240,000.00. Following the completion of the sale, the senior vice president owned 18,838 shares in the company, valued at $2,260,560. This trade represents a 9.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Joao Paulo Ribeiro sold 710 shares of the stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $115.09, for a total transaction of $81,713.90. Following the sale, the senior vice president owned 6,698 shares of the company's stock, valued at $770,872.82. This trade represents a 9.58% decrease in their position. The disclosure for this sale can be found here. Insiders sold 13,102 shares of company stock worth $1,538,595 in the last quarter. 2.00% of the stock is owned by corporate insiders.

Visteon Trading Up 2.1%

Shares of VC stock opened at $123.24 on Monday. The stock has a market cap of $3.36 billion, a price-to-earnings ratio of 11.75, a P/E/G ratio of 2.83 and a beta of 1.25. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.55 and a current ratio of 1.87. The firm has a fifty day moving average of $120.44 and a 200-day moving average of $97.72. Visteon Corporation has a 52-week low of $65.10 and a 52-week high of $129.10.

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

Visteon Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 5th. Investors of record on Monday, August 18th were given a dividend of $0.275 per share. The ex-dividend date was Monday, August 18th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 0.9%. Visteon's dividend payout ratio (DPR) is 10.49%.

Analysts Set New Price Targets

VC has been the subject of several research analyst reports. Baird R W upgraded shares of Visteon from a "hold" rating to a "strong-buy" rating in a research note on Friday, July 11th. Bank of America upped their target price on shares of Visteon from $130.00 to $140.00 and gave the company a "buy" rating in a research note on Wednesday, September 10th. UBS Group reiterated a "buy" rating and set a $146.00 target price (up from $142.00) on shares of Visteon in a research note on Friday, July 25th. Wells Fargo & Company increased their price objective on shares of Visteon from $145.00 to $151.00 and gave the company an "overweight" rating in a research note on Thursday. Finally, Morgan Stanley increased their price objective on shares of Visteon from $90.00 to $95.00 and gave the company an "equal weight" rating in a research note on Tuesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $125.00.

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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