Impax Asset Management Group plc Reduces Stock Position in Visteon Corporation $VC

Impax Asset Management Group plc trimmed its stake in shares of Visteon Corporation (NASDAQ:VC) by 30.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 40,000 shares of the company’s stock after selling 17,500 shares during the period. Impax Asset Management Group plc owned about 0.15% of Visteon worth $4,794,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Geode Capital Management LLC raised its position in shares of Visteon by 2.1% during the 2nd quarter. Geode Capital Management LLC now owns 699,996 shares of the company’s stock worth $65,316,000 after purchasing an additional 14,662 shares during the last quarter. Allianz Asset Management GmbH increased its position in Visteon by 1,380.9% during the third quarter. Allianz Asset Management GmbH now owns 74,875 shares of the company’s stock worth $8,975,000 after buying an additional 69,819 shares in the last quarter. Nordea Investment Management AB increased its position in Visteon by 11.0% during the third quarter. Nordea Investment Management AB now owns 135,025 shares of the company’s stock worth $16,216,000 after buying an additional 13,415 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH raised its holdings in shares of Visteon by 146.1% in the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 58,531 shares of the company’s stock worth $7,016,000 after acquiring an additional 34,751 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of Visteon by 64.6% in the third quarter. Principal Financial Group Inc. now owns 422,392 shares of the company’s stock valued at $50,628,000 after acquiring an additional 165,729 shares in the last quarter. Institutional investors and hedge funds own 99.71% of the company’s stock.

Visteon Stock Performance

Shares of NASDAQ:VC opened at $101.70 on Thursday. The business has a 50-day moving average of $97.98 and a two-hundred day moving average of $109.02. The firm has a market capitalization of $2.78 billion, a PE ratio of 9.14 and a beta of 1.16. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.89 and a quick ratio of 1.56. Visteon Corporation has a 12 month low of $65.10 and a 12 month high of $129.10.

Wall Street Analyst Weigh In

A number of research firms recently commented on VC. UBS Group dropped their price objective on Visteon from $142.00 to $130.00 and set a “buy” rating for the company in a research report on Wednesday, January 14th. Wolfe Research cut shares of Visteon from an “outperform” rating to a “peer perform” rating in a research note on Monday, January 12th. The Goldman Sachs Group set a $120.00 price objective on shares of Visteon in a research report on Thursday, January 15th. Wells Fargo & Company decreased their target price on shares of Visteon from $151.00 to $148.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 9th. Finally, Robert W. Baird set a $126.00 target price on shares of Visteon in a research note on Wednesday, January 14th. Nine analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $127.15.

Visteon Company 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.