State of New Jersey Common Pension Fund D purchased a new position in Veoneer Inc (NYSE:VNE) during the third quarter, HoldingsChannel.com reports. The fund purchased 140,100 shares of the company’s stock, valued at approximately $2,100,000.
Several other institutional investors have also bought and sold shares of the company. AMF Pensionsforsakring AB bought a new position in shares of Veoneer in the 2nd quarter worth about $41,544,000. BlackRock Inc. lifted its position in shares of Veoneer by 20.3% in the 2nd quarter. BlackRock Inc. now owns 2,171,705 shares of the company’s stock worth $37,591,000 after buying an additional 365,756 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Veoneer by 27.7% in the 2nd quarter. Vanguard Group Inc. now owns 1,827,123 shares of the company’s stock worth $31,628,000 after buying an additional 396,575 shares during the last quarter. DNB Asset Management AS bought a new position in shares of Veoneer in the 2nd quarter worth about $18,090,000. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Veoneer by 10.0% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 714,218 shares of the company’s stock worth $12,364,000 after buying an additional 64,775 shares during the last quarter. Institutional investors own 29.67% of the company’s stock.
A number of research firms have recently issued reports on VNE. Guggenheim initiated coverage on shares of Veoneer in a research report on Tuesday, October 15th. They issued a “neutral” rating on the stock. Zacks Investment Research reiterated a “buy” rating and issued a $16.00 price objective on shares of Veoneer in a research report on Saturday, October 12th. Barclays cut their price objective on shares of Veoneer from $22.00 to $21.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 2nd. Deutsche Bank cut their price objective on shares of Veoneer from $16.00 to $14.00 and set a “sell” rating on the stock in a research report on Thursday, October 24th. Finally, Citigroup cut their price objective on shares of Veoneer from $19.00 to $18.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 29th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Veoneer presently has an average rating of “Hold” and a consensus price target of $25.45.
Veoneer (NYSE:VNE) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported ($1.20) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.34) by $0.14. The firm had revenue of $462.00 million for the quarter, compared to the consensus estimate of $475.33 million. Veoneer had a negative net margin of 26.11% and a negative return on equity of 27.00%. Veoneer’s quarterly revenue was down 12.2% compared to the same quarter last year. During the same period last year, the firm posted ($0.78) EPS. As a group, equities analysts anticipate that Veoneer Inc will post -5.12 EPS for the current year.
Veoneer, Inc designs, develops, manufactures, and sells automotive safety electronic products in Asia, the Americas, and Europe. It operates in two segments, Electronics and Brake Systems. The company provides automotive radars, night driving assist systems, positioning systems, advanced driver assistance systems (ADAS), night vision systems, brake control systems, electronic control units, active safety sensors, and controllers; mono-and stereo-vision cameras; and passive safety electronics, such as airbag control units and crash sensors.
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