Victory Capital Management Inc. Lowers Stake in Visteon Co. (NASDAQ:VC)

Victory Capital Management Inc. lowered its stake in shares of Visteon Co. (NASDAQ:VC) by 2.4% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 1,479,711 shares of the company’s stock after selling 36,313 shares during the period. Victory Capital Management Inc. owned approximately 5.36% of Visteon worth $140,928,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in VC. State of New Jersey Common Pension Fund D lifted its position in shares of Visteon by 19.5% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 19,604 shares of the company’s stock worth $1,867,000 after purchasing an additional 3,194 shares during the last quarter. Covestor Ltd raised its stake in Visteon by 14.8% during the 3rd quarter. Covestor Ltd now owns 1,567 shares of the company’s stock worth $149,000 after acquiring an additional 202 shares in the last quarter. Summit Global Investments acquired a new stake in Visteon during the 3rd quarter worth $518,000. Olympiad Research LP acquired a new stake in Visteon during the 3rd quarter worth $429,000. Finally, Principal Financial Group Inc. raised its stake in Visteon by 3.2% during the 3rd quarter. Principal Financial Group Inc. now owns 274,365 shares of the company’s stock worth $26,131,000 after acquiring an additional 8,500 shares in the last quarter. Hedge funds and other institutional investors own 99.71% of the company’s stock.

Visteon Price Performance

Visteon stock opened at $94.14 on Wednesday. Visteon Co. has a 52-week low of $86.77 and a 52-week high of $131.70. The firm has a fifty day moving average of $92.83 and a 200-day moving average of $102.22. The firm has a market capitalization of $2.60 billion, a P/E ratio of 5.11, a PEG ratio of 0.45 and a beta of 1.45. The company has a quick ratio of 1.47, a current ratio of 1.82 and a debt-to-equity ratio of 0.24.

Visteon (NASDAQ:VC) last announced its earnings results on Thursday, October 24th. The company reported $2.26 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.37. The business had revenue of $980.00 million during the quarter, compared to the consensus estimate of $965.60 million. Visteon had a net margin of 13.22% and a return on equity of 46.19%. The business’s quarterly revenue was down 3.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.35 earnings per share. As a group, analysts predict that Visteon Co. will post 8.04 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have commented on VC shares. Wolfe Research started coverage on shares of Visteon in a research note on Thursday, September 5th. They issued a “peer perform” rating on the stock. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $124.00 price target on shares of Visteon in a research note on Tuesday, September 10th. TD Cowen decreased their price objective on shares of Visteon from $142.00 to $140.00 and set a “buy” rating on the stock in a report on Friday, July 26th. StockNews.com downgraded shares of Visteon from a “buy” rating to a “hold” rating in a report on Sunday, November 3rd. Finally, Wells Fargo & Company raised shares of Visteon from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $115.00 to $122.00 in a report on Friday, September 20th. Seven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $127.57.

Visteon Company Profile

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.