Picton Mahoney Asset Management Buys Shares of 10,560 Visteon Corporation $VC

Picton Mahoney Asset Management bought a new stake in Visteon Corporation (NASDAQ:VC) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 10,560 shares of the company’s stock, valued at approximately $1,266,000.

Other hedge funds have also made changes to their positions in the company. Legato Capital Management LLC purchased a new position in Visteon during the third quarter valued at approximately $2,664,000. Victory Capital Management Inc. lifted its position in Visteon by 8.6% in the 3rd quarter. Victory Capital Management Inc. now owns 1,147,059 shares of the company’s stock worth $137,486,000 after buying an additional 90,501 shares in the last quarter. Elo Mutual Pension Insurance Co acquired a new stake in shares of Visteon during the 3rd quarter valued at $1,268,000. Journey Strategic Wealth LLC purchased a new position in shares of Visteon during the 3rd quarter valued at $232,000. Finally, Caitlin John LLC purchased a new position in shares of Visteon during the 3rd quarter valued at $99,000. 99.71% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Visteon news, CEO Sachin Lawande sold 49,453 shares of the company’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $93.44, for a total transaction of $4,620,888.32. Following the completion of the sale, the chief executive officer directly owned 175,527 shares in the company, valued at $16,401,242.88. This represents a 21.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Robert W. Baird cut their price objective on Visteon from $126.00 to $119.00 and set an “outperform” rating for the company in a report on Friday, February 20th. UBS Group cut their price target on Visteon from $130.00 to $120.00 and set a “buy” rating for the company in a research note on Friday, February 20th. Deutsche Bank Aktiengesellschaft set a $117.00 price target on Visteon in a report on Friday, February 20th. The Goldman Sachs Group set a $120.00 price objective on Visteon in a report on Thursday, January 15th. Finally, Wells Fargo & Company reduced their target price on shares of Visteon from $148.00 to $125.00 and set an “overweight” rating for the company in a research note on Friday, February 20th. Nine investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $122.15.

Visteon Stock Down 1.9%

VC opened at $90.60 on Friday. The firm has a market cap of $2.43 billion, a P/E ratio of 9.61, a price-to-earnings-growth ratio of 1.11 and a beta of 1.15. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.53 and a current ratio of 1.80. The business has a 50 day moving average price of $97.19 and a 200 day moving average price of $107.13. Visteon Corporation has a twelve month low of $65.10 and a twelve month high of $129.10.

Visteon (NASDAQ:VC) last released its quarterly earnings results on Thursday, February 19th. The company reported $2.96 EPS for the quarter, beating analysts’ consensus estimates of $2.08 by $0.88. Visteon had a net margin of 6.93% and a return on equity of 17.94%. The company had revenue of $948.00 million for the quarter, compared to analyst estimates of $920.25 million. During the same quarter last year, the firm posted $4.44 earnings per share. The company’s quarterly revenue was up 1.0% compared to the same quarter last year. Research analysts forecast that Visteon Corporation will post 8.42 EPS for the current year.

Visteon Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 2nd will be given a dividend of $0.375 per share. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $1.50 dividend on an annualized basis and a yield of 1.7%. This is a positive change from Visteon’s previous quarterly dividend of $0.28. Visteon’s dividend payout ratio (DPR) is presently 15.91%.

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.