Norges Bank Takes $40.09 Million Position in Visteon Co. (NASDAQ:VC)

Norges Bank purchased a new position in Visteon Co. (NASDAQ:VCFree Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 320,993 shares of the company’s stock, valued at approximately $40,092,000. Norges Bank owned 1.15% of Visteon at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. PNC Financial Services Group Inc. increased its stake in shares of Visteon by 1.9% during the third quarter. PNC Financial Services Group Inc. now owns 5,111 shares of the company’s stock worth $706,000 after purchasing an additional 94 shares in the last quarter. Covestor Ltd increased its stake in Visteon by 105.7% during the 3rd quarter. Covestor Ltd now owns 216 shares of the company’s stock worth $30,000 after buying an additional 111 shares in the last quarter. DekaBank Deutsche Girozentrale raised its holdings in shares of Visteon by 1.7% during the third quarter. DekaBank Deutsche Girozentrale now owns 8,574 shares of the company’s stock valued at $1,190,000 after acquiring an additional 140 shares during the last quarter. CWM LLC lifted its position in shares of Visteon by 53.6% in the fourth quarter. CWM LLC now owns 401 shares of the company’s stock valued at $50,000 after acquiring an additional 140 shares in the last quarter. Finally, Arizona State Retirement System lifted its position in shares of Visteon by 1.9% in the third quarter. Arizona State Retirement System now owns 8,072 shares of the company’s stock valued at $1,115,000 after acquiring an additional 154 shares in the last quarter. Hedge funds and other institutional investors own 99.71% of the company’s stock.

Visteon Stock Up 2.2 %

Shares of NASDAQ VC opened at $110.13 on Friday. The company has a quick ratio of 1.37, a current ratio of 1.74 and a debt-to-equity ratio of 0.28. The business’s 50 day moving average is $112.57 and its two-hundred day moving average is $116.85. Visteon Co. has a 52-week low of $105.19 and a 52-week high of $159.87. The firm has a market cap of $3.04 billion, a price-to-earnings ratio of 6.29, a PEG ratio of 0.50 and a beta of 1.66.

Visteon (NASDAQ:VCGet Free Report) last posted its quarterly earnings data on Thursday, April 25th. The company reported $1.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.75 by ($0.14). The firm had revenue of $933.00 million during the quarter, compared to analysts’ expectations of $971.45 million. Visteon had a net margin of 12.60% and a return on equity of 53.49%. Visteon’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.25 EPS. Research analysts predict that Visteon Co. will post 8.49 EPS for the current year.

Analyst Upgrades and Downgrades

VC has been the subject of several recent research reports. Barclays raised Visteon from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $140.00 to $145.00 in a research note on Wednesday, April 10th. Guggenheim dropped their price objective on shares of Visteon from $136.00 to $126.00 and set a “buy” rating for the company in a research note on Wednesday, April 17th. Robert W. Baird cut their price objective on shares of Visteon from $140.00 to $137.00 and set an “outperform” rating for the company in a report on Friday, April 26th. Royal Bank of Canada lowered their target price on Visteon from $188.00 to $146.00 and set an “outperform” rating on the stock in a report on Thursday, March 7th. Finally, JPMorgan Chase & Co. cut their price target on Visteon from $146.00 to $145.00 and set a “neutral” rating for the company in a report on Monday, April 22nd. Five equities 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.com, the stock has an average rating of “Moderate Buy” and an average price target of $141.75.

Read Our Latest Stock Report on Visteon

Visteon Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Visteon (NASDAQ:VC)

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