Massachusetts Financial Services Co. MA Purchases 8,941 Shares of Visteon Co. (NASDAQ:VC)

Massachusetts Financial Services Co. MA increased its stake in Visteon Co. (NASDAQ:VC) by 1.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 808,192 shares of the company’s stock after buying an additional 8,941 shares during the quarter. Massachusetts Financial Services Co. MA owned about 2.93% of Visteon worth $86,234,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of VC. Jump Financial LLC bought a new stake in Visteon in the fourth quarter worth $449,000. Dimensional Fund Advisors LP lifted its position in Visteon by 2.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 571,760 shares of the company’s stock worth $71,416,000 after buying an additional 13,359 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its stake in Visteon by 62.6% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 4,193 shares of the company’s stock worth $524,000 after purchasing an additional 1,614 shares during the period. Quadrant Capital Group LLC increased its stake in Visteon by 76.7% in the fourth quarter. Quadrant Capital Group LLC now owns 410 shares of the company’s stock worth $51,000 after purchasing an additional 178 shares during the period. Finally, Norges Bank purchased a new stake in Visteon in the fourth quarter worth $40,092,000. 99.71% of the stock is currently owned by institutional investors.

Visteon Price Performance

VC opened at $92.38 on Thursday. The business’s 50-day moving average is $101.97 and its two-hundred day moving average is $107.91. Visteon Co. has a 1 year low of $88.37 and a 1 year high of $143.97. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.85 and a quick ratio of 1.50. The firm has a market capitalization of $2.55 billion, a PE ratio of 5.28, a price-to-earnings-growth ratio of 0.44 and a beta of 1.46.

Visteon (NASDAQ:VC) last posted its earnings results on Thursday, July 25th. The company reported $2.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.96 by $0.58. Visteon had a return on equity of 51.69% and a net margin of 13.79%. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the previous year, the firm earned $1.18 earnings per share. The firm’s quarterly revenue was up 3.2% compared to the same quarter last year. Research analysts anticipate that Visteon Co. will post 8.06 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on VC shares. Morgan Stanley reduced their target price on Visteon from $135.00 to $100.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 14th. TD Cowen reduced their target price on Visteon from $142.00 to $140.00 and set a “buy” rating on the stock in a research note on Friday, July 26th. Robert W. Baird reiterated a “neutral” rating and issued a $120.00 target price (down previously from $137.00) on shares of Visteon in a research note on Friday, July 12th. JPMorgan Chase & Co. cut their price target on Visteon from $144.00 to $135.00 and set a “neutral” rating on the stock in a research note on Monday, July 22nd. Finally, Royal Bank of Canada cut their price target on Visteon from $144.00 to $129.00 and set an “outperform” rating on the stock in a research note on Thursday, August 22nd. Seven research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $129.86.

Insiders Place Their Bets

In other Visteon news, SVP Joao Paulo Ribeiro sold 3,859 shares of the firm’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $111.73, for a total value of $431,166.07. Following the completion of the sale, the senior vice president now owns 5,988 shares of the company’s stock, valued at $669,039.24. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 2.00% of the company’s stock.

About Visteon

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.