Louisiana State Employees Retirement System Acquires New Stake in Visteon Corporation $VC

Louisiana State Employees Retirement System bought a new position in Visteon Corporation (NASDAQ:VC) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 7,900 shares of the company’s stock, valued at approximately $720,000.

A number of other large investors have also made changes to their positions in the company. Victory Capital Management Inc. boosted its holdings in Visteon by 16.3% in the 4th quarter. Victory Capital Management Inc. now owns 1,334,406 shares of the company’s stock worth $126,902,000 after buying an additional 187,347 shares during the period. Invesco Ltd. boosted its holdings in shares of Visteon by 8.4% in the 4th quarter. Invesco Ltd. now owns 1,253,628 shares of the company’s stock worth $119,220,000 after purchasing an additional 97,100 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Visteon by 3.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,228,016 shares of the company’s stock valued at $116,787,000 after purchasing an additional 46,601 shares during the last quarter. State Street Corp raised its holdings in Visteon by 3.1% during the 2nd quarter. State Street Corp now owns 1,107,091 shares of the company’s stock valued at $103,292,000 after buying an additional 33,155 shares during the period. Finally, Wellington Management Group LLP boosted its stake in Visteon by 5.2% during the fourth quarter. Wellington Management Group LLP now owns 844,065 shares of the company’s stock worth $80,271,000 after buying an additional 41,922 shares during the period. 99.71% of the stock is currently owned by institutional investors.

Insider Activity at Visteon

In other Visteon news, SVP Seungkyung Kim sold 600 shares of the stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $118.96, for a total transaction of $71,376.00. Following the transaction, the senior vice president directly owned 389 shares of the company’s stock, valued at $46,275.44. This trade represents a 60.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Brett D. Pynnonen sold 5,000 shares of the business’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $120.00, for a total transaction of $600,000.00. Following the sale, the senior vice president directly owned 8,503 shares of the company’s stock, valued at $1,020,360. This represents a 37.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 58,901 shares of company stock valued at $6,699,220 in the last three months. Company insiders own 2.00% of the company’s stock.

Visteon Stock Performance

VC traded down $1.90 on Tuesday, reaching $105.95. The stock had a trading volume of 10,066 shares, compared to its average volume of 609,108. The company has a current ratio of 1.73, a quick ratio of 1.43 and a debt-to-equity ratio of 0.17. Visteon Corporation has a 12-month low of $83.49 and a 12-month high of $129.10. The business’s 50-day moving average price is $113.08 and its two-hundred day moving average price is $101.56. The company has a market cap of $2.83 billion, a P/E ratio of 12.91, a price-to-earnings-growth ratio of 0.77 and a beta of 1.29.

Visteon (NASDAQ:VC) last issued its quarterly earnings results on Thursday, April 23rd. The company reported $1.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.96 by ($0.31). The business had revenue of $954.00 million for the quarter, compared to analysts’ expectations of $901.33 million. Visteon had a return on equity of 15.93% and a net margin of 5.99%.The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.47 EPS. Sell-side analysts forecast that Visteon Corporation will post 8.68 earnings per share for the current year.

Visteon Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were issued a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Monday, June 1st. Visteon’s payout ratio is presently 18.27%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. The Goldman Sachs Group boosted their target price on Visteon from $106.00 to $118.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. Weiss Ratings upgraded Visteon from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, May 1st. Wolfe Research upgraded Visteon from a “peer perform” rating to an “outperform” rating and set a $135.00 price objective on the stock in a report on Monday, April 27th. Barclays raised shares of Visteon from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $115.00 to $145.00 in a research report on Monday, June 22nd. Finally, UBS Group upped their target price on Visteon from $120.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, April 24th. Eleven investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Visteon currently has a consensus rating of “Moderate Buy” and an average target price of $135.54.

Visteon Company 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.