The Manufacturers Life Insurance Company Trims Stake in Visteon Co. (NASDAQ:VC)

The Manufacturers Life Insurance Company lessened its stake in Visteon Co. (NASDAQ:VC) by 1.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 32,683 shares of the company’s stock after selling 473 shares during the period. The Manufacturers Life Insurance Company owned about 0.12% of Visteon worth $3,487,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Prudential PLC purchased a new position in Visteon in the 4th quarter valued at about $312,000. Nebula Research & Development LLC purchased a new stake in shares of Visteon during the fourth quarter worth approximately $1,443,000. RMB Capital Management LLC raised its stake in Visteon by 0.9% in the 4th quarter. RMB Capital Management LLC now owns 102,731 shares of the company’s stock valued at $12,831,000 after purchasing an additional 883 shares during the last quarter. Cubist Systematic Strategies LLC raised its stake in Visteon by 416.5% in the 4th quarter. Cubist Systematic Strategies LLC now owns 149,070 shares of the company’s stock valued at $18,619,000 after purchasing an additional 120,210 shares during the last quarter. Finally, Point72 Italy S.r.l. purchased a new position in Visteon in the 4th quarter valued at $6,809,000. Institutional investors and hedge funds own 99.71% of the company’s stock.

Visteon Stock Down 0.3 %

Shares of NASDAQ:VC opened at $92.03 on Tuesday. Visteon Co. has a fifty-two week low of $88.37 and a fifty-two week high of $136.80. The firm’s 50 day moving average price is $98.12 and its 200 day moving average price is $106.10. The company has a quick ratio of 1.50, a current ratio of 1.85 and a debt-to-equity ratio of 0.26. The stock has a market cap of $2.54 billion, a price-to-earnings ratio of 5.26, a price-to-earnings-growth ratio of 0.45 and a beta of 1.45.

Visteon (NASDAQ:VC) last announced its quarterly earnings data on Thursday, July 25th. The company reported $2.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.96 by $0.58. The business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.01 billion. Visteon had a net margin of 13.79% and a return on equity of 51.69%. The company’s revenue was up 3.2% on a year-over-year basis. During the same period last year, the business earned $1.18 EPS. As a group, equities research analysts predict that Visteon Co. will post 8.06 earnings per share for the current fiscal year.

Insider Transactions at Visteon

In other Visteon news, SVP Joao Paulo Ribeiro sold 3,859 shares of the 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 transaction, the senior vice president now directly owns 5,988 shares in the company, valued at $669,039.24. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on VC. Baird R W downgraded shares of Visteon from a “strong-buy” rating to a “hold” rating in a report on Friday, July 12th. Robert W. Baird reaffirmed a “neutral” rating and issued a $120.00 price target (down previously from $137.00) on shares of Visteon in a report on Friday, July 12th. UBS Group lowered their price objective on Visteon from $144.00 to $135.00 and set a “buy” rating on the stock in a research note on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $124.00 target price on shares of Visteon in a research note on Tuesday, September 10th. Finally, Wolfe Research initiated coverage on shares of Visteon in a research report on Thursday, September 5th. They set a “peer perform” rating on the stock. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $129.21.

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.