Impax Asset Management Group plc Cuts Stake in Visteon Corporation $VC

Impax Asset Management Group plc decreased its stake in Visteon Corporation (NASDAQ:VC) by 30.4% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 40,000 shares of the company’s stock after selling 17,500 shares during the quarter. Impax Asset Management Group plc’s holdings in Visteon were worth $4,794,000 as of its most recent SEC filing.

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

VC stock opened at $101.70 on Thursday. The stock’s 50 day simple moving average is $97.98 and its 200 day simple moving average is $109.02. Visteon Corporation has a 12-month low of $65.10 and a 12-month high of $129.10. The firm has a market cap of $2.78 billion, a P/E ratio of 9.14 and a beta of 1.16. The company has a current ratio of 1.89, a quick ratio of 1.56 and a debt-to-equity ratio of 0.18.

Wall Street Analyst Weigh In

VC has been the topic of several analyst reports. Wolfe Research downgraded shares of Visteon from an “outperform” rating to a “peer perform” rating in a research note on Monday, January 12th. Barclays lowered their target price on Visteon from $130.00 to $110.00 and set an “equal weight” rating for the company in a research note on Friday, January 23rd. Royal Bank Of Canada boosted their price target on Visteon from $136.00 to $138.00 and gave the stock an “outperform” rating in a research note on Friday, October 24th. Robert W. Baird set a $126.00 price objective on Visteon in a research note on Wednesday, January 14th. Finally, Wells Fargo & Company dropped their price objective on Visteon from $151.00 to $148.00 and set an “overweight” rating on the stock in a report on Tuesday, December 9th. Nine research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Visteon has an average rating of “Moderate Buy” and a consensus 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.