Visteon Corporation (NASDAQ:VC) Holdings Raised by New York State Common Retirement Fund

New York State Common Retirement Fund boosted its stake in Visteon Corporation (NASDAQ:VC) by 6.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,117 shares of the company’s stock after buying an additional 584 shares during the quarter. New York State Common Retirement Fund’s holdings in Visteon were worth $708,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of VC. Norges Bank acquired a new stake in Visteon in the 4th quarter worth $29,468,000. Price T Rowe Associates Inc. MD grew its position in Visteon by 78.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 336,443 shares of the company’s stock worth $29,850,000 after purchasing an additional 147,685 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Visteon by 17.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 844,068 shares of the company’s stock worth $74,886,000 after purchasing an additional 124,897 shares during the last quarter. Bank of America Corp DE grew its position in Visteon by 74.9% in the 4th quarter. Bank of America Corp DE now owns 185,573 shares of the company’s stock worth $16,464,000 after purchasing an additional 79,444 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position in Visteon by 146.3% in the 4th quarter. Renaissance Technologies LLC now owns 128,300 shares of the company’s stock worth $11,383,000 after purchasing an additional 76,200 shares during the last quarter. Institutional investors own 99.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on VC shares. Robert W. Baird raised shares of Visteon from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $96.00 to $125.00 in a research note on Friday, July 11th. Morgan Stanley dropped their target price on shares of Visteon from $95.00 to $90.00 and set an “equal weight” rating for the company in a research note on Monday, May 19th. Baird R W raised shares of Visteon from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 11th. JPMorgan Chase & Co. boosted their target price on shares of Visteon from $97.00 to $101.00 and gave the stock a “neutral” rating in a research note on Monday, July 21st. Finally, UBS Group boosted their target price on shares of Visteon from $142.00 to $146.00 and gave the stock a “buy” rating in a research note on Friday. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Visteon has an average rating of “Moderate Buy” and an average target price of $115.33.

Visteon Stock Performance

Shares of VC stock opened at $113.32 on Friday. The stock has a fifty day moving average of $95.51 and a 200 day moving average of $86.21. Visteon Corporation has a 52 week low of $65.10 and a 52 week high of $117.94. The firm has a market capitalization of $3.09 billion, a price-to-earnings ratio of 10.80 and a beta of 1.21. The company has a quick ratio of 1.50, a current ratio of 1.87 and a debt-to-equity ratio of 0.19.

Visteon (NASDAQ:VC) last posted its quarterly earnings data 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 the consensus estimate of $943.12 million. Visteon had a return on equity of 23.22% and a net margin of 7.61%. The firm’s quarterly revenue was down 4.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.54 earnings per share. As a group, research analysts expect that Visteon Corporation will post 8.42 earnings per share for the current year.

Visteon Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Investors of record on Monday, August 18th will be given a dividend of $0.275 per share. The ex-dividend date of this dividend is Monday, August 18th. This represents a $1.10 annualized dividend and a dividend yield of 0.97%.

Insider Activity at Visteon

In other Visteon news, SVP Robert R. Vallance sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $100.15, for a total value of $200,300.00. Following the transaction, the senior vice president directly owned 20,838 shares of the company’s stock, valued at approximately $2,086,925.70. This trade represents a 8.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.00% of the stock is owned by company insiders.

About Visteon

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.