Mirova US LLC Grows Holdings in Visa Inc. $V

Mirova US LLC grew its holdings in shares of Visa Inc. (NYSE:V) by 3.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 825,940 shares of the credit-card processor’s stock after buying an additional 29,300 shares during the quarter. Visa accounts for about 3.0% of Mirova US LLC’s investment portfolio, making the stock its 13th largest holding. Mirova US LLC’s holdings in Visa were worth $293,250,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Triasima Portfolio Management inc. lifted its stake in Visa by 27.1% during the second quarter. Triasima Portfolio Management inc. now owns 17,137 shares of the credit-card processor’s stock worth $6,084,000 after purchasing an additional 3,657 shares during the last quarter. Proffitt & Goodson Inc. lifted its stake in Visa by 26.6% during the second quarter. Proffitt & Goodson Inc. now owns 262 shares of the credit-card processor’s stock worth $93,000 after purchasing an additional 55 shares during the last quarter. Sax Wealth Advisors LLC lifted its stake in Visa by 130.3% during the second quarter. Sax Wealth Advisors LLC now owns 5,752 shares of the credit-card processor’s stock worth $2,042,000 after purchasing an additional 3,254 shares during the last quarter. Venturi Wealth Management LLC lifted its stake in Visa by 1.0% during the second quarter. Venturi Wealth Management LLC now owns 65,666 shares of the credit-card processor’s stock worth $23,315,000 after purchasing an additional 624 shares during the last quarter. Finally, Wheelhouse Advisory Group LLC bought a new position in Visa during the second quarter worth $206,000. 82.15% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on V shares. Truist Financial reduced their price objective on Visa from $400.00 to $397.00 and set a “buy” rating on the stock in a research note on Thursday, July 17th. UBS Group reaffirmed a “buy” rating and issued a $415.00 target price (up from $405.00) on shares of Visa in a research report on Wednesday, July 30th. Barclays reaffirmed an “overweight” rating and issued a $408.00 target price (up from $396.00) on shares of Visa in a research report on Thursday, July 31st. Oppenheimer increased their target price on Visa from $390.00 to $391.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 2nd. Finally, Morgan Stanley increased their target price on Visa from $386.00 to $402.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, Visa has an average rating of “Moderate Buy” and a consensus price target of $389.00.

Insiders Place Their Bets

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $344.02, for a total transaction of $697,328.54. Following the transaction, the general counsel directly owned 11,925 shares of the company’s stock, valued at approximately $4,102,438.50. This trade represents a 14.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ryan Mcinerney sold 10,485 shares of Visa stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total value of $3,589,015.50. Following the transaction, the chief executive officer directly owned 537 shares in the company, valued at approximately $183,815.10. The trade was a 95.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by company insiders.

Visa Price Performance

Shares of V opened at $343.63 on Friday. The firm has a market capitalization of $629.79 billion, a price-to-earnings ratio of 33.56, a price-to-earnings-growth ratio of 2.06 and a beta of 0.90. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12. Visa Inc. has a one year low of $275.37 and a one year high of $375.51. The stock’s fifty day moving average is $343.77 and its 200-day moving average is $346.97.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, beating analysts’ consensus estimates of $2.85 by $0.13. The company had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%.The company’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same period last year, the company earned $2.42 earnings per share. Equities analysts anticipate that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th were issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Tuesday, August 12th. Visa’s dividend payout ratio (DPR) is 23.05%.

Visa Profile

Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; and Visa DPS that provides a range of value-added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.