Allspring Global Investments Holdings LLC Buys New Shares in Visteon Corporation $VC

Allspring Global Investments Holdings LLC purchased a new stake in shares of Visteon Corporation (NASDAQ:VC) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 50,027 shares of the company’s stock, valued at approximately $5,996,000. Allspring Global Investments Holdings LLC owned 0.18% of Visteon as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in VC. American Century Companies Inc. grew its stake in shares of Visteon by 28.6% during the 2nd quarter. American Century Companies Inc. now owns 2,222,551 shares of the company’s stock valued at $207,364,000 after acquiring an additional 494,820 shares during the period. Bridgeway Capital Management LLC purchased a new position in Visteon during the second quarter valued at approximately $15,156,000. Empowered Funds LLC bought a new position in shares of Visteon in the second quarter worth approximately $13,796,000. Covalis Capital LLP increased its stake in shares of Visteon by 117.1% in the second quarter. Covalis Capital LLP now owns 268,613 shares of the company’s stock worth $25,062,000 after purchasing an additional 144,899 shares in the last quarter. Finally, Brandywine Global Investment Management LLC bought a new stake in shares of Visteon during the 2nd quarter valued at $10,948,000. Institutional investors own 99.71% of the company’s stock.

Visteon Price Performance

Shares of Visteon stock opened at $103.62 on Wednesday. The firm has a market cap of $2.83 billion, a PE ratio of 9.31 and a beta of 1.15. The stock has a 50 day moving average of $101.66 and a 200 day moving average of $110.48. The company has a current ratio of 1.89, a quick ratio of 1.56 and a debt-to-equity ratio of 0.18. Visteon Corporation has a 12 month low of $65.10 and a 12 month high of $129.10.

Visteon (NASDAQ:VC) last released its quarterly earnings data on Thursday, October 23rd. The company reported $2.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.07 by $0.08. The business had revenue of $917.00 million for the quarter, compared to the consensus estimate of $945.41 million. Visteon had a return on equity of 21.85% and a net margin of 8.22%.The company’s revenue was down 6.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.26 EPS. On average, research analysts expect that Visteon Corporation will post 8.42 EPS for the current fiscal year.

Visteon Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 5th. Investors of record on Tuesday, November 18th were paid a dividend of $0.275 per share. The ex-dividend date of this dividend was Tuesday, November 18th. This represents a $1.10 dividend on an annualized basis and a yield of 1.1%. Visteon’s dividend payout ratio is presently 9.88%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Barclays set a $130.00 target price on shares of Visteon in a report on Monday, October 27th. Royal Bank Of Canada increased their target price on Visteon from $136.00 to $138.00 and gave the stock an “outperform” rating in a research report on Friday, October 24th. Robert W. Baird set a $141.00 price target on Visteon in a report on Friday, October 24th. Bank of America upped their price target on Visteon from $130.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, September 10th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Visteon in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $133.08.

Insider Transactions at Visteon

In other Visteon news, CEO Sachin Lawande sold 595 shares of the stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $110.02, for a total transaction of $65,461.90. Following the completion of the transaction, the chief executive officer owned 175,527 shares in the company, valued at $19,311,480.54. This trade represents a 0.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.00% of the stock is currently owned by insiders.

Visteon Profile

Visteon Corporation is a global automotive electronics supplier that specializes in designing, engineering and manufacturing cockpit electronics and connected vehicle solutions. The company’s product portfolio spans digital instrument clusters, infotainment systems, domain controllers and advanced driver interaction technologies. By integrating hardware, software and services, Visteon aims to deliver complete cockpit electronics platforms that enhance driver experience, safety and connectivity.

Founded in 2000 as a spin-off from Ford Motor Company, Visteon has evolved its focus toward next-generation electronics and software-driven vehicle architectures.