Bayforest Capital Ltd Acquires Shares of 9,171 Visteon Corporation (NASDAQ:VC)

Bayforest Capital Ltd acquired a new stake in shares of Visteon Corporation (NASDAQ:VC) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 9,171 shares of the company’s stock, valued at approximately $712,000.

A number of other large investors have also recently added to or reduced their stakes in VC. New York State Common Retirement Fund raised its holdings in shares of Visteon by 6.8% during the first quarter. New York State Common Retirement Fund now owns 9,117 shares of the company’s stock worth $708,000 after purchasing an additional 584 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Visteon by 12.3% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,288 shares of the company’s stock worth $571,000 after purchasing an additional 799 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Visteon during the first quarter worth $472,000. JPMorgan Chase & Co. raised its holdings in shares of Visteon by 2.7% during the fourth quarter. JPMorgan Chase & Co. now owns 656,347 shares of the company’s stock worth $58,231,000 after purchasing an additional 17,526 shares during the period. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Visteon during the fourth quarter worth $203,000. 99.71% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Visteon

In other news, SVP Robert R. Vallance sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $100.15, for a total transaction of $200,300.00. Following the completion of the transaction, the senior vice president owned 20,838 shares in the company, valued at approximately $2,086,925.70. This trade represents a 8.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 2.00% of the company’s stock.

Visteon Stock Performance

Shares of VC opened at $113.71 on Wednesday. The firm has a 50-day moving average price of $96.68 and a 200 day moving average price of $86.64. The firm has a market capitalization of $3.10 billion, a PE ratio of 10.84, a P/E/G ratio of 4.75 and a beta of 1.21. The company has a quick ratio of 1.55, a current ratio of 1.87 and a debt-to-equity ratio of 0.19. Visteon Corporation has a 52-week low of $65.10 and a 52-week high of $117.94.

Visteon (NASDAQ:VC) last announced its earnings results on Thursday, July 24th. The company reported $2.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.04 by $0.35. Visteon had a net margin of 7.61% and a return on equity of 23.22%. The firm had revenue of $969.00 million during the quarter, compared to analyst estimates of $943.12 million. During the same quarter in the prior year, the firm posted $2.54 EPS. Visteon’s revenue was down 4.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Visteon Corporation will post 8.42 earnings per share for the current fiscal year.

Visteon Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Stockholders of record on Monday, August 18th will be given a dividend of $0.275 per share. The ex-dividend date of this dividend is Monday, August 18th. This represents a $1.10 annualized dividend and a dividend yield of 0.97%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Robert W. Baird raised shares of Visteon from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $96.00 to $125.00 in a report on Friday, July 11th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Visteon from $120.00 to $131.00 and gave the stock a “buy” rating in a report on Friday, July 25th. Baird R W raised shares of Visteon from a “hold” rating to a “strong-buy” rating in a report on Friday, July 11th. Wells Fargo & Company increased their price objective on shares of Visteon from $106.00 to $129.00 and gave the stock an “overweight” rating in a report on Friday, July 25th. Finally, Morgan Stanley dropped their price objective on shares of Visteon from $95.00 to $90.00 and set an “equal weight” rating on the stock in a report on Monday, May 19th. Four analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $115.58.

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.