Arizona State Retirement System Cuts Holdings in Visteon Co. (NASDAQ:VC)

Arizona State Retirement System trimmed its holdings in shares of Visteon Co. (NASDAQ:VC) by 2.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,883 shares of the company’s stock after selling 189 shares during the period. Arizona State Retirement System’s holdings in Visteon were worth $985,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Wellington Management Group LLP increased its stake in Visteon by 51.5% in the 1st quarter. Wellington Management Group LLP now owns 2,453,735 shares of the company’s stock valued at $267,776,000 after purchasing an additional 834,079 shares in the last quarter. Norges Bank purchased a new position in Visteon in the 4th quarter valued at approximately $38,169,000. Morgan Stanley increased its stake in Visteon by 40.1% in the 4th quarter. Morgan Stanley now owns 734,690 shares of the company’s stock valued at $96,120,000 after purchasing an additional 210,114 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Visteon by 729.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 235,841 shares of the company’s stock valued at $36,988,000 after purchasing an additional 207,400 shares in the last quarter. Finally, TimesSquare Capital Management LLC increased its stake in Visteon by 37.9% in the 3rd quarter. TimesSquare Capital Management LLC now owns 359,450 shares of the company’s stock valued at $49,629,000 after purchasing an additional 98,850 shares in the last quarter. 99.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on VC shares. StockNews.com raised Visteon from a “hold” rating to a “buy” rating in a research note on Thursday, January 11th. UBS Group raised Visteon from a “neutral” rating to a “buy” rating and raised their price target for the stock from $143.00 to $145.00 in a research report on Wednesday, January 17th. Royal Bank of Canada dropped their price target on Visteon from $188.00 to $146.00 and set an “outperform” rating for the company in a research report on Thursday, March 7th. Wells Fargo & Company raised their price target on Visteon from $101.00 to $106.00 and gave the stock an “underweight” rating in a research report on Wednesday, February 21st. Finally, Barclays raised Visteon from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $140.00 to $145.00 in a research report on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $146.50.

Visteon Price Performance

VC stock opened at $108.71 on Tuesday. Visteon Co. has a 52-week low of $108.17 and a 52-week high of $159.87. The stock’s fifty day simple moving average is $115.44 and its 200-day simple moving average is $119.78. The company has a quick ratio of 1.42, a current ratio of 1.74 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $2.99 billion, a price-to-earnings ratio of 6.33, a price-to-earnings-growth ratio of 0.49 and a beta of 1.65.

Visteon (NASDAQ:VC) last posted its quarterly earnings data on Tuesday, February 20th. The company reported $13.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.09 by $10.92. Visteon had a return on equity of 57.45% and a net margin of 12.29%. The business had revenue of $990.00 million for the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter last year, the firm earned $1.32 earnings per share. The business’s revenue was down 7.0% on a year-over-year basis. Equities research analysts expect that Visteon Co. will post 8.72 EPS for the current year.

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.