Victory Capital Management Inc. Boosts Stock Position in Visteon Corporation $VC

Victory Capital Management Inc. boosted its stake in shares of Visteon Corporation (NASDAQ:VC) by 8.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,147,059 shares of the company’s stock after buying an additional 90,501 shares during the period. Victory Capital Management Inc. owned 4.20% of Visteon worth $137,486,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cullen Frost Bankers Inc. acquired a new stake in shares of Visteon during the 3rd quarter worth approximately $30,000. USA Financial Formulas purchased a new position in Visteon in the third quarter worth approximately $44,000. EMC Capital Management acquired a new stake in Visteon during the second quarter worth $45,000. Plato Investment Management Ltd purchased a new stake in Visteon in the third quarter valued at $48,000. Finally, Hantz Financial Services Inc. raised its position in Visteon by 72.0% in the third quarter. Hantz Financial Services Inc. now owns 423 shares of the company’s stock valued at $51,000 after purchasing an additional 177 shares during the period. 99.71% of the stock is owned by institutional investors and hedge funds.

Visteon Trading Down 1.1%

Shares of VC stock opened at $94.37 on Wednesday. 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 stock has a market capitalization of $2.53 billion, a P/E ratio of 10.01, a price-to-earnings-growth ratio of 1.15 and a beta of 1.15. The company has a 50 day moving average price of $97.41 and a 200 day moving average price of $107.35. Visteon Corporation has a fifty-two week low of $65.10 and a fifty-two week high of $129.10.

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

Visteon Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 2nd will be paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Monday, March 2nd. This is a positive change from Visteon’s previous quarterly dividend of $0.28. Visteon’s payout ratio is presently 15.91%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on VC shares. The Goldman Sachs Group set a $120.00 price target on Visteon in a report on Thursday, January 15th. Wells Fargo & Company decreased their target price on shares of Visteon from $148.00 to $125.00 and set an “overweight” rating on the stock in a research report on Friday, February 20th. Barclays dropped their price target on shares of Visteon from $130.00 to $110.00 and set an “equal weight” rating for the company in a research report on Friday, January 23rd. Morgan Stanley upped their price objective on shares of Visteon from $95.00 to $114.00 and gave the stock an “equal weight” rating in a report on Monday, December 8th. Finally, Deutsche Bank Aktiengesellschaft set a $117.00 price objective on shares of Visteon in a research report on Friday, February 20th. Nine investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $122.15.

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.