KLP Kapitalforvaltning AS Makes New Investment in Visteon Co. (NASDAQ:VC)

KLP Kapitalforvaltning AS acquired a new stake in shares of Visteon Co. (NASDAQ:VC) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 5,800 shares of the company’s stock, valued at approximately $515,000.

A number of other institutional investors have also recently bought and sold shares of the stock. American Century Companies Inc. raised its holdings in Visteon by 58.8% during the fourth quarter. American Century Companies Inc. now owns 1,448,017 shares of the company’s stock worth $128,468,000 after acquiring an additional 536,073 shares in the last quarter. State Street Corp lifted its position in Visteon by 0.4% during the third quarter. State Street Corp now owns 1,024,865 shares of the company’s stock worth $97,608,000 after acquiring an additional 3,918 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Visteon by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 668,682 shares of the company’s stock worth $63,698,000 after purchasing an additional 7,743 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Visteon by 2.1% in the fourth quarter. Bank of New York Mellon Corp now owns 640,856 shares of the company’s stock valued at $56,857,000 after acquiring an additional 12,900 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in Visteon by 16.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 638,821 shares of the company’s stock valued at $60,841,000 after purchasing an additional 88,288 shares during the period. Institutional investors own 99.71% of the company’s stock.

Wall Street Analysts Forecast Growth

VC has been the subject of a number of recent analyst reports. Wells Fargo & Company upped their target price on Visteon from $119.00 to $124.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. Morgan Stanley cut their target price on shares of Visteon from $100.00 to $95.00 and set an “equal weight” rating on the stock in a research report on Monday, March 3rd. TD Cowen assumed coverage on Visteon in a report on Friday, March 7th. They set a “buy” rating and a $108.00 price target on the stock. Barclays reduced their price objective on shares of Visteon from $115.00 to $110.00 and set an “overweight” rating on the stock in a research note on Monday, March 3rd. Finally, Royal Bank of Canada decreased their target price on shares of Visteon from $127.00 to $100.00 and set an “outperform” rating for the company in a research report on Wednesday, February 19th. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $117.25.

Visteon Price Performance

VC opened at $74.83 on Friday. Visteon Co. has a 1 year low of $74.33 and a 1 year high of $117.94. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.74 and a quick ratio of 1.47. The firm’s fifty day moving average price is $83.42 and its two-hundred day moving average price is $88.16. The company has a market capitalization of $2.03 billion, a price-to-earnings ratio of 7.63, a P/E/G ratio of 0.42 and a beta of 1.39.

Visteon (NASDAQ:VC) last posted its quarterly earnings results on Tuesday, February 18th. The company reported $4.44 earnings per share for the quarter, beating the consensus estimate of $1.97 by $2.47. Visteon had a net margin of 7.09% and a return on equity of 24.58%. The company had revenue of $939.00 million during the quarter, compared to analyst estimates of $954.17 million. As a group, analysts anticipate that Visteon Co. will post 8.42 earnings per share for the current fiscal year.

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.