Allspring Global Investments Holdings LLC Boosts Holdings in Visteon Corporation $VC

Allspring Global Investments Holdings LLC boosted its holdings in shares of Visteon Corporation (NASDAQ:VC) by 253.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 176,830 shares of the company’s stock after acquiring an additional 126,803 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Visteon were worth $17,131,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of VC. Royal Bank of Canada increased its position in Visteon by 389.3% during the first quarter. Royal Bank of Canada now owns 21,992 shares of the company’s stock worth $1,707,000 after buying an additional 17,497 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Visteon by 31.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 249,564 shares of the company’s stock worth $19,371,000 after purchasing an additional 59,764 shares during the last quarter. New York State Common Retirement Fund grew its holdings in shares of Visteon by 12.1% during the second quarter. New York State Common Retirement Fund now owns 10,217 shares of the company’s stock worth $953,000 after buying an additional 1,100 shares in the last quarter. Edgestream Partners L.P. purchased a new stake in shares of Visteon during the second quarter worth about $1,719,000. Finally, Marshall Wace LLP raised its position in shares of Visteon by 172.4% in the second quarter. Marshall Wace LLP now owns 127,745 shares of the company’s stock valued at $11,919,000 after buying an additional 80,852 shares during the last quarter. 99.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

VC has been the topic of several recent analyst reports. The Goldman Sachs Group set a $120.00 price objective on shares of Visteon in a research note on Thursday, January 15th. Wells Fargo & Company cut their price target on Visteon from $125.00 to $124.00 and set an “overweight” rating for the company in a report on Tuesday, March 31st. UBS Group reduced their price target on Visteon from $130.00 to $120.00 and set a “buy” rating on the stock in a research note on Friday, February 20th. Morgan Stanley raised their price objective on Visteon from $95.00 to $114.00 and gave the stock an “equal weight” rating in a report on Monday, December 8th. Finally, Barclays lowered their price objective on Visteon from $130.00 to $110.00 and set an “equal weight” rating for the company in a research report on Friday, January 23rd. Eight investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, Visteon currently has an average rating of “Moderate Buy” and an average target price of $122.25.

Insider Activity at Visteon

In other news, CEO Sachin Lawande sold 49,453 shares of the firm’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $93.44, for a total value of $4,620,888.32. Following the transaction, the chief executive officer directly owned 175,527 shares in the company, valued at $16,401,242.88. This trade represents a 21.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.00% of the stock is currently owned by company insiders.

Visteon Stock Performance

Shares of VC stock opened at $91.38 on Friday. The firm has a market capitalization of $2.45 billion, a price-to-earnings ratio of 9.69, a price-to-earnings-growth ratio of 1.11 and a beta of 1.15. The company has a 50 day moving average price of $93.68 and a 200 day moving average price of $101.75. Visteon Corporation has a one year low of $65.10 and a one year high of $129.10. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.53 and a current ratio of 1.80.

Visteon (NASDAQ:VC) last released its quarterly earnings data on Thursday, February 19th. The company reported $2.96 EPS for the quarter, topping analysts’ consensus estimates of $2.08 by $0.88. The business had revenue of $948.00 million during the quarter, compared to the consensus estimate of $920.25 million. Visteon had a return on equity of 17.94% and a net margin of 6.93%.The business’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same period in the prior year, the firm posted $4.44 EPS. Sell-side analysts anticipate that Visteon Corporation will post 8.42 EPS for the current year.

Visteon Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were paid a dividend of $0.375 per share. This is a boost from Visteon’s previous quarterly dividend of $0.28. This represents a $1.50 annualized dividend and a yield of 1.6%. The ex-dividend date was Monday, March 2nd. Visteon’s payout ratio is currently 15.91%.

Visteon 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.