California Public Employees Retirement System Reduces Holdings in Visteon Co. (NASDAQ:VC)

California Public Employees Retirement System lowered its position in Visteon Co. (NASDAQ:VC) by 2.2% during the 4th quarter, HoldingsChannel reports. The fund owned 56,632 shares of the company’s stock after selling 1,269 shares during the period. California Public Employees Retirement System’s holdings in Visteon were worth $7,073,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. CWM LLC raised its holdings in shares of Visteon by 53.6% in the fourth quarter. CWM LLC now owns 401 shares of the company’s stock worth $50,000 after buying an additional 140 shares during the period. Oliver Lagore Vanvalin Investment Group bought a new stake in shares of Visteon during the fourth quarter worth $59,000. Federated Hermes Inc. boosted its stake in shares of Visteon by 8.6% during the fourth quarter. Federated Hermes Inc. now owns 41,921 shares of the company’s stock valued at $5,236,000 after purchasing an additional 3,310 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Visteon by 8.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,174 shares of the company’s stock worth $771,000 after purchasing an additional 469 shares during the last quarter. Finally, Cornercap Investment Counsel Inc. grew its holdings in shares of Visteon by 27.1% in the fourth quarter. Cornercap Investment Counsel Inc. now owns 8,873 shares of the company’s stock worth $1,108,000 after purchasing an additional 1,891 shares during the last quarter. Hedge funds and other institutional investors own 99.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on VC. Royal Bank of Canada dropped their target price on shares of Visteon from $188.00 to $146.00 and set an “outperform” rating on the stock in a research note on Thursday, March 7th. Robert W. Baird reduced their price objective on Visteon from $140.00 to $137.00 and set an “outperform” rating on the stock in a report on Friday, April 26th. Barclays upgraded Visteon from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $140.00 to $145.00 in a report on Wednesday, April 10th. JPMorgan Chase & Co. cut their price target on Visteon from $146.00 to $145.00 and set a “neutral” rating on the stock in a research note on Monday, April 22nd. Finally, Bank of America decreased their price objective on Visteon from $165.00 to $160.00 and set a “buy” rating for the company in a report on Thursday, February 29th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Visteon has an average rating of “Moderate Buy” and a consensus target price of $142.36.

Visteon Price Performance

VC opened at $114.72 on Friday. The firm has a market capitalization of $3.17 billion, a PE ratio of 6.56, a price-to-earnings-growth ratio of 0.52 and a beta of 1.66. The business’s 50-day moving average is $113.21 and its two-hundred day moving average is $117.88. Visteon Co. has a 1 year low of $105.19 and a 1 year high of $159.87. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.74 and a quick ratio of 1.37.

Visteon (NASDAQ:VC) last posted its quarterly earnings data on Thursday, April 25th. The company reported $1.61 EPS for the quarter, missing the consensus estimate of $1.75 by ($0.14). The firm had revenue of $933.00 million for the quarter, compared to the consensus estimate of $971.45 million. Visteon had a return on equity of 53.49% and a net margin of 12.60%. The company’s revenue was down 3.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.25 EPS. Research analysts anticipate that Visteon Co. will post 8.45 earnings per share for the current fiscal 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.