Pacer Advisors Inc. Sells 16,009 Shares of Visteon Corporation $VC

Pacer Advisors Inc. decreased its holdings in shares of Visteon Corporation (NASDAQ:VC) by 11.3% in the 1st quarter, HoldingsChannel reports. The firm owned 125,179 shares of the company’s stock after selling 16,009 shares during the period. Pacer Advisors Inc.’s holdings in Visteon were worth $11,405,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. First Trust Advisors LP increased its holdings in shares of Visteon by 124.0% in the first quarter. First Trust Advisors LP now owns 519,041 shares of the company’s stock valued at $47,290,000 after purchasing an additional 287,359 shares during the last quarter. Boston Partners acquired a new stake in shares of Visteon during the 4th quarter worth about $25,342,000. Squarepoint Ops LLC acquired a new stake in shares of Visteon during the 4th quarter worth about $22,361,000. Bank of America Corp DE boosted its holdings in shares of Visteon by 130.1% during the 1st quarter. Bank of America Corp DE now owns 396,310 shares of the company’s stock worth $36,108,000 after buying an additional 224,097 shares during the period. Finally, Victory Capital Management Inc. boosted its holdings in shares of Visteon by 16.3% during 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. 99.71% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

VC has been the topic of a number of research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Visteon in a research note on Wednesday, July 29th. UBS Group boosted their price objective on Visteon from $120.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, April 24th. TD Cowen upped their target price on Visteon from $130.00 to $135.00 and gave the company a “buy” rating in a research report on Monday, June 29th. Morgan Stanley upped their target price on Visteon from $115.00 to $130.00 and gave the company an “equal weight” rating in a research report on Friday, June 26th. Finally, Wall Street Zen cut Visteon from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Ten investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $135.15.

Visteon Trading Down 0.1%

VC stock opened at $105.40 on Wednesday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.45 and a current ratio of 1.78. The company’s 50-day simple moving average is $109.95 and its 200 day simple moving average is $102.46. Visteon Corporation has a 52 week low of $83.49 and a 52 week high of $129.10. The company has a market capitalization of $2.81 billion, a PE ratio of 13.78, a price-to-earnings-growth ratio of 0.67 and a beta of 1.29.

Visteon (NASDAQ:VC) last released its quarterly earnings results on Thursday, July 23rd. The company reported $1.91 EPS for the quarter, missing analysts’ consensus estimates of $2.21 by ($0.30). Visteon had a return on equity of 14.61% and a net margin of 5.58%.The business had revenue of $960.00 million for the quarter, compared to the consensus estimate of $955.78 million. During the same period in the prior year, the business posted $2.39 earnings per share. Visteon’s revenue was down .9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Visteon Corporation will post 8.49 earnings per share for the current year.

Visteon Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date was Monday, June 1st. Visteon’s dividend payout ratio is presently 19.61%.

Insider Transactions at Visteon

In other news, SVP Brett D. Pynnonen sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $120.00, for a total transaction of $600,000.00. Following the transaction, the senior vice president directly owned 8,503 shares of the company’s stock, valued at approximately $1,020,360. This trade represents a 37.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Seungkyung Kim sold 600 shares of Visteon stock in a transaction that occurred 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 completion of the sale, the senior vice president owned 389 shares of the company’s stock, valued at approximately $46,275.44. The trade was a 60.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 8,600 shares of company stock valued at $1,023,776. 2.00% of the stock is currently owned by company insiders.

Visteon 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.