Convergence Investment Partners LLC Purchases Shares of 2,390 Visteon Corporation $VC

Convergence Investment Partners LLC bought a new stake in shares of Visteon Corporation (NASDAQ:VC) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 2,390 shares of the company’s stock, valued at approximately $223,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of VC. American Century Companies Inc. grew its stake in shares of Visteon by 19.3% during the first quarter. American Century Companies Inc. now owns 1,727,731 shares of the company’s stock valued at $134,106,000 after buying an additional 279,714 shares during the last quarter. Pacer Advisors Inc. grew its position in Visteon by 2,402.0% during the 1st quarter. Pacer Advisors Inc. now owns 271,738 shares of the company’s stock worth $21,092,000 after acquiring an additional 260,877 shares during the last quarter. New Vernon Capital Holdings II LLC bought a new position in Visteon during the 1st quarter worth approximately $17,068,000. Nuveen LLC bought a new position in Visteon during the 1st quarter worth approximately $15,612,000. Finally, Walleye Capital LLC grew its holdings in shares of Visteon by 2,881.5% in the first quarter. Walleye Capital LLC now owns 164,102 shares of the company’s stock worth $12,738,000 after purchasing an additional 158,598 shares during the last quarter. 99.71% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on VC shares. Guggenheim raised their target price on shares of Visteon from $134.00 to $143.00 and gave the stock a “buy” rating in a report on Tuesday, September 9th. The Goldman Sachs Group set a $150.00 price target on shares of Visteon and gave the stock a “buy” rating in a report on Thursday. JPMorgan Chase & Co. raised their price target on shares of Visteon from $104.00 to $122.00 and gave the stock a “neutral” rating in a report on Monday, October 20th. Deutsche Bank Aktiengesellschaft raised their target price on Visteon from $120.00 to $131.00 and gave the stock a “buy” rating in a research note on Friday, July 25th. Finally, Wells Fargo & Company raised their target price on Visteon from $145.00 to $151.00 and gave the stock an “overweight” rating in a research note on Thursday, September 25th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $131.85.

Insider Activity

In related news, Director Francis M. Scricco sold 4,350 shares of the business’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $120.53, for a total transaction of $524,305.50. Following the sale, the director owned 2,792 shares of the company’s stock, valued at $336,519.76. The trade was a 60.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Robert R. Vallance sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $120.00, for a total value of $240,000.00. Following the completion of the sale, the senior vice president directly owned 18,838 shares in the company, valued at approximately $2,260,560. This represents a 9.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 10,392 shares of company stock worth $1,256,581 in the last three months. 2.00% of the stock is currently owned by insiders.

Visteon Trading Down 3.5%

NASDAQ VC opened at $104.00 on Tuesday. The company has a quick ratio of 1.56, a current ratio of 1.89 and a debt-to-equity ratio of 0.18. Visteon Corporation has a twelve month low of $65.10 and a twelve month high of $129.10. The firm has a market capitalization of $2.84 billion, a PE ratio of 9.34, a P/E/G ratio of 2.56 and a beta of 1.22. The stock’s 50 day moving average is $120.71 and its 200 day moving average is $103.31.

Visteon (NASDAQ:VC) last released its quarterly earnings results on Thursday, October 23rd. The company reported $2.15 earnings per share for the quarter, beating the consensus estimate of $2.07 by $0.08. Visteon had a return on equity of 21.85% and a net margin of 8.22%.The company had revenue of $917.00 million for the quarter, compared to analyst estimates of $945.41 million. During the same period in the previous year, the company posted $2.26 earnings per share. The firm’s revenue was down 6.4% on a year-over-year basis. Visteon has set its FY 2025 guidance at EPS. Research analysts forecast 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, December 5th. Investors of record on Tuesday, November 18th will be paid a dividend of $0.275 per share. The ex-dividend date of this dividend is Tuesday, November 18th. This represents a $1.10 annualized dividend and a yield of 1.1%. Visteon’s payout ratio is presently 9.88%.

Visteon Company 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.