Edgestream Partners L.P. Invests $1.72 Million in Visteon Corporation $VC

Edgestream Partners L.P. acquired a new stake in shares of Visteon Corporation (NASDAQ:VC) in the second quarter, HoldingsChannel reports. The institutional investor acquired 18,420 shares of the company’s stock, valued at approximately $1,719,000.

A number of other large investors have also added to or reduced their stakes in VC. Fifth Third Bancorp boosted its holdings in Visteon by 111.5% in the second quarter. Fifth Third Bancorp now owns 387 shares of the company’s stock worth $36,000 after acquiring an additional 204 shares in the last quarter. EMC Capital Management purchased a new position in shares of Visteon in the 2nd quarter worth about $45,000. GAMMA Investing LLC raised its position in shares of Visteon by 238.0% in the 2nd quarter. GAMMA Investing LLC now owns 605 shares of the company’s stock worth $56,000 after purchasing an additional 426 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in Visteon in the 1st quarter worth about $84,000. Finally, Signaturefd LLC grew its position in Visteon by 106.6% during the 2nd quarter. Signaturefd LLC now owns 1,886 shares of the company’s stock valued at $176,000 after purchasing an additional 973 shares during the last quarter. Hedge funds and other institutional investors own 99.71% of the company’s stock.

Visteon Price Performance

Shares of VC opened at $99.48 on Friday. The firm has a fifty day simple moving average of $108.62 and a two-hundred day simple moving average of $108.21. The firm has a market cap of $2.71 billion, a PE ratio of 8.94, a P/E/G ratio of 2.42 and a beta of 1.14. 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 1-year low of $65.10 and a 1-year high of $129.10.

Visteon (NASDAQ:VC) last released its quarterly earnings results 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 firm 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 for the quarter was down 6.4% on a year-over-year basis. During the same period last year, the business posted $2.26 EPS. On average, equities analysts anticipate that Visteon Corporation will post 8.42 EPS for the current year.

Visteon Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Wells Fargo & Company lifted their target price on shares of Visteon from $145.00 to $151.00 and gave the stock an “overweight” rating in a report on Thursday, September 25th. Barclays set a $130.00 price objective on shares of Visteon in a report on Monday, October 27th. Morgan Stanley upped their price objective on Visteon from $90.00 to $95.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 12th. UBS Group reduced their target price on Visteon from $146.00 to $142.00 and set a “buy” rating for the company in a report on Friday, October 24th. Finally, Guggenheim upped their price target on Visteon from $134.00 to $143.00 and gave the company a “buy” rating in a report on Tuesday, September 9th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Visteon presently has a consensus rating of “Moderate Buy” and a consensus price target of $131.85.

Insider Activity at Visteon

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

Visteon 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.