Sterling Capital Management LLC Sells 6,032 Shares of Visteon Corporation $VC

Sterling Capital Management LLC lowered its position in shares of Visteon Corporation (NASDAQ:VC) by 86.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 911 shares of the company’s stock after selling 6,032 shares during the period. Sterling Capital Management LLC’s holdings in Visteon were worth $83,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Royal Bank of Canada boosted its holdings in Visteon by 389.3% in the 1st quarter. Royal Bank of Canada now owns 21,992 shares of the company’s stock valued at $1,707,000 after purchasing an additional 17,497 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Visteon by 31.5% in the first quarter. Goldman Sachs Group Inc. now owns 249,564 shares of the company’s stock worth $19,371,000 after purchasing an additional 59,764 shares during the period. Amundi increased its holdings in shares of Visteon by 1.3% in the second quarter. Amundi now owns 6,862 shares of the company’s stock worth $706,000 after purchasing an additional 86 shares during the period. Jump Financial LLC boosted its stake in Visteon by 43.0% during the second quarter. Jump Financial LLC now owns 16,833 shares of the company’s stock valued at $1,571,000 after buying an additional 5,059 shares during the period. Finally, Cerity Partners LLC bought a new stake in Visteon during the second quarter valued at $1,150,000. Institutional investors own 99.71% of the company’s stock.

Visteon Stock Down 1.4%

VC opened at $104.29 on Thursday. The business’s fifty day simple moving average is $112.74 and its 200 day simple moving average is $101.63. Visteon Corporation has a 52 week low of $83.49 and a 52 week high of $129.10. The company has a quick ratio of 1.43, a current ratio of 1.73 and a debt-to-equity ratio of 0.17. The stock has a market cap of $2.78 billion, a PE ratio of 12.70, a P/E/G ratio of 0.79 and a beta of 1.29.

Visteon (NASDAQ:VC) last issued its quarterly earnings results on Thursday, April 23rd. The company reported $1.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.96 by ($0.31). Visteon had a return on equity of 15.93% and a net margin of 5.99%.The firm had revenue of $954.00 million for the quarter, compared to the consensus estimate of $901.33 million. During the same period last year, the firm earned $2.47 EPS. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. As a group, research analysts expect that Visteon Corporation will post 8.68 earnings per share for the current fiscal year.

Visteon Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were issued a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Monday, June 1st. Visteon’s dividend payout ratio (DPR) is currently 18.27%.

Insider Buying and Selling

In related news, SVP Seungkyung Kim sold 600 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $118.96, for a total value of $71,376.00. Following the completion of the sale, the senior vice president owned 389 shares in the company, valued at $46,275.44. The trade was a 60.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Sachin Lawande sold 38,817 shares of the company’s stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $113.63, for a total value of $4,410,775.71. Following the completion of the sale, the chief executive officer directly owned 193,822 shares of the company’s stock, valued at approximately $22,023,993.86. This represents a 16.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 58,901 shares of company stock worth $6,699,220 over the last ninety days. Corporate insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on VC shares. JPMorgan Chase & Co. upgraded Visteon from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $108.00 to $165.00 in a research note on Monday, June 22nd. Wells Fargo & Company cut their price objective on Visteon from $139.00 to $137.00 and set an “overweight” rating for the company in a report on Thursday, June 25th. UBS Group upped their price objective on shares of Visteon from $120.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, April 24th. The Goldman Sachs Group raised their target price on shares of Visteon from $106.00 to $118.00 and gave the company a “buy” rating in a research note on Thursday, April 23rd. Finally, Wolfe Research upgraded shares of Visteon from a “peer perform” rating to an “outperform” rating and set a $135.00 target price for the company in a research report on Monday, April 27th. Eleven analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $135.54.

About Visteon

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.