State of New Jersey Common Pension Fund D Trims Stock Holdings in Visteon Co. (NASDAQ:VC)

State of New Jersey Common Pension Fund D lowered its holdings in Visteon Co. (NASDAQ:VC) by 32.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,410 shares of the company’s stock after selling 7,856 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.06% of Visteon worth $1,751,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of VC. Retirement Systems of Alabama boosted its stake in Visteon by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 34,923 shares of the company’s stock worth $4,107,000 after purchasing an additional 91 shares during the period. State of Michigan Retirement System grew its stake in Visteon by 1.5% during the first quarter. State of Michigan Retirement System now owns 6,807 shares of the company’s stock valued at $801,000 after acquiring an additional 100 shares in the last quarter. Signaturefd LLC increased its holdings in Visteon by 70.8% during the 2nd quarter. Signaturefd LLC now owns 287 shares of the company’s stock worth $31,000 after acquiring an additional 119 shares during the period. Parallel Advisors LLC lifted its stake in Visteon by 98.6% in the 4th quarter. Parallel Advisors LLC now owns 286 shares of the company’s stock worth $36,000 after purchasing an additional 142 shares in the last quarter. Finally, Orion Portfolio Solutions LLC raised its position in shares of Visteon by 2.3% in the fourth quarter. Orion Portfolio Solutions LLC now owns 7,711 shares of the company’s stock worth $909,000 after buying an additional 171 shares in the last quarter. 99.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on VC. Robert W. Baird reiterated a “neutral” rating and issued a $120.00 target price (down from $137.00) on shares of Visteon in a research report on Friday, July 12th. Morgan Stanley decreased their price objective on Visteon from $135.00 to $100.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 14th. JPMorgan Chase & Co. dropped their target price on Visteon from $144.00 to $135.00 and set a “neutral” rating for the company in a research report on Monday, July 22nd. Wolfe Research started coverage on shares of Visteon in a research report on Thursday, September 5th. They set a “peer perform” rating on the stock. Finally, Wells Fargo & Company upgraded shares of Visteon from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $115.00 to $122.00 in a report on Friday, September 20th. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $130.36.

Visteon Stock Performance

Shares of Visteon stock opened at $96.79 on Wednesday. Visteon Co. has a 12 month low of $88.37 and a 12 month high of $142.20. The firm has a market capitalization of $2.67 billion, a P/E ratio of 5.53, a P/E/G ratio of 0.44 and a beta of 1.46. The company has a current ratio of 1.85, a quick ratio of 1.50 and a debt-to-equity ratio of 0.26. The business has a fifty day simple moving average of $101.07 and a two-hundred day simple moving average of $107.42.

Visteon (NASDAQ:VC) last released 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 net margin of 13.79% and a return on equity of 51.69%. The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same period last year, the business earned $1.18 earnings per share. The business’s revenue was up 3.2% on a year-over-year basis. On average, equities analysts forecast that Visteon Co. will post 8.06 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Joao Paulo Ribeiro sold 3,859 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $111.73, for a total value of $431,166.07. Following the completion of the transaction, the senior vice president now directly owns 5,988 shares in the company, valued at approximately $669,039.24. The sale was disclosed in a document filed 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.