Meeder Asset Management Inc. Trims Holdings in Visteon Corporation $VC

Meeder Asset Management Inc. trimmed its holdings in shares of Visteon Corporation (NASDAQ:VCFree Report) by 66.9% in the 1st quarter, Holdings Channel reports. The firm owned 5,777 shares of the company’s stock after selling 11,661 shares during the quarter. Meeder Asset Management Inc.’s holdings in Visteon were worth $526,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted its position in Visteon by 14.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,403,695 shares of the company’s stock valued at $127,879,000 after buying an additional 175,679 shares during the period. Victory Capital Management Inc. grew its stake in Visteon by 16.3% in the 4th quarter. Victory Capital Management Inc. now owns 1,334,406 shares of the company’s stock worth $126,902,000 after acquiring an additional 187,347 shares in the last quarter. Invesco Ltd. increased its position in shares of Visteon by 8.4% during the fourth quarter. Invesco Ltd. now owns 1,253,628 shares of the company’s stock worth $119,220,000 after acquiring an additional 97,100 shares during the period. State Street Corp increased its position in shares of Visteon by 3.1% during the second quarter. State Street Corp now owns 1,107,091 shares of the company’s stock worth $103,292,000 after acquiring an additional 33,155 shares during the period. Finally, Wellington Management Group LLP raised its stake in shares of Visteon by 5.2% during the fourth quarter. Wellington Management Group LLP now owns 844,065 shares of the company’s stock valued at $80,271,000 after acquiring an additional 41,922 shares in the last quarter. Institutional investors own 99.71% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on VC shares. Barclays upgraded Visteon from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $115.00 to $145.00 in a report on Monday, June 22nd. Wells Fargo & Company lowered their target price on Visteon from $139.00 to $137.00 and set an “overweight” rating for the company in a report on Thursday, June 25th. The Goldman Sachs Group increased their price target on Visteon from $106.00 to $118.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. Wolfe Research upgraded Visteon from a “peer perform” rating to an “outperform” rating and set a $135.00 price target on the stock in a research note on Monday, April 27th. Finally, Wall Street Zen downgraded Visteon from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Eleven research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $135.46.

Check Out Our Latest Stock Report on Visteon

Visteon Stock Performance

Shares of VC stock opened at $101.61 on Tuesday. The firm has a market cap of $2.71 billion, a price-to-earnings ratio of 12.38, a PEG ratio of 0.79 and a beta of 1.29. Visteon Corporation has a 52-week low of $83.49 and a 52-week high of $129.10. The company has a quick ratio of 1.43, a current ratio of 1.73 and a debt-to-equity ratio of 0.17. The company’s 50 day moving average is $111.59 and its 200 day moving average is $102.06.

Visteon (NASDAQ:VCGet Free Report) last announced its earnings results on Thursday, April 23rd. The company reported $1.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.96 by ($0.31). Visteon had a net margin of 5.99% and a return on equity of 15.93%. The company had revenue of $954.00 million for the quarter, compared to the consensus estimate of $901.33 million. During the same period last year, the business posted $2.47 EPS. The firm’s revenue was up 2.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Visteon Corporation will post 8.67 EPS for the current fiscal year.

Visteon Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were paid a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 1.5%. The ex-dividend date was Monday, June 1st. Visteon’s payout ratio is 18.27%.

Insider Buying and Selling

In other Visteon news, SVP Seungkyung Kim sold 600 shares of the business’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $118.96, for a total value of $71,376.00. Following the completion of the transaction, the senior vice president directly owned 389 shares in the company, valued at approximately $46,275.44. The trade was a 60.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Colleen Elizabeth Myers sold 475 shares of the firm’s stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $110.92, for a total transaction of $52,687.00. Following the completion of the sale, the chief accounting officer owned 241 shares in the company, valued at $26,731.72. This represents a 66.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 58,901 shares of company stock valued at $6,699,220 over the last three months. Corporate insiders own 2.00% of the company’s stock.

Visteon Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Visteon (NASDAQ:VC)

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