Renaissance Technologies LLC Increases Stock Position in Visteon Corporation $VC

Renaissance Technologies LLC boosted its holdings in shares of Visteon Corporation (NASDAQ:VC) by 47.2% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 317,600 shares of the company’s stock after acquiring an additional 101,900 shares during the quarter. Renaissance Technologies LLC’s holdings in Visteon were worth $28,937,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of VC. Dimensional Fund Advisors LP increased its holdings in shares of Visteon by 14.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,403,695 shares of the company’s stock valued at $127,879,000 after acquiring an additional 175,679 shares during the period. Victory Capital Management Inc. boosted its position in Visteon by 16.3% during the fourth quarter. Victory Capital Management Inc. now owns 1,334,406 shares of the company’s stock valued at $126,902,000 after purchasing an additional 187,347 shares in the last quarter. Invesco Ltd. grew its stake in Visteon by 8.4% in the fourth quarter. Invesco Ltd. now owns 1,253,628 shares of the company’s stock valued at $119,220,000 after purchasing an additional 97,100 shares during the last quarter. State Street Corp raised its holdings in Visteon by 3.1% in the second quarter. State Street Corp now owns 1,107,091 shares of the company’s stock worth $103,292,000 after purchasing an additional 33,155 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of Visteon by 5.2% during the fourth quarter. Wellington Management Group LLP now owns 844,065 shares of the company’s stock valued at $80,271,000 after buying an additional 41,922 shares during the last quarter. Hedge funds and other institutional investors own 99.71% of the company’s stock.

Insider Activity

In related news, SVP Brett D. Pynnonen sold 5,000 shares of the firm’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $120.00, for a total value of $600,000.00. Following the completion of the transaction, the senior vice president owned 8,503 shares in the company, valued at $1,020,360. This trade represents a 37.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Robert R. Vallance sold 1,000 shares of Visteon stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $119.40, for a total value of $119,400.00. Following the sale, the senior vice president directly owned 17,469 shares of the company’s stock, valued at approximately $2,085,798.60. This represents a 5.41% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 8,600 shares of company stock valued at $1,023,776 over the last ninety days. 2.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on VC shares. Wall Street Zen downgraded shares of Visteon from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Robert W. Baird restated a “neutral” rating and issued a $121.00 target price on shares of Visteon in a research note on Friday, June 26th. Wolfe Research lowered shares of Visteon from an “outperform” rating to a “peer perform” rating in a report on Tuesday. JPMorgan Chase & Co. raised Visteon from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $108.00 to $165.00 in a research report on Monday, June 22nd. Finally, Morgan Stanley upped their price target on Visteon from $115.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Friday, June 26th. Ten research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Visteon currently has a consensus rating of “Moderate Buy” and a consensus target price of $135.15.

Visteon Price Performance

Shares of VC stock opened at $106.93 on Wednesday. Visteon Corporation has a fifty-two week low of $83.49 and a fifty-two week high of $129.10. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.45 and a current ratio of 1.78. The firm has a market capitalization of $2.85 billion, a price-to-earnings ratio of 13.98, a PEG ratio of 0.80 and a beta of 1.29. The stock’s 50-day simple moving average is $110.67 and its 200-day simple moving average is $102.29.

Visteon (NASDAQ:VC) last released its earnings results on Thursday, July 23rd. The company reported $1.91 EPS for the quarter, missing analysts’ consensus estimates of $2.21 by ($0.30). The company had revenue of $960.00 million during the quarter, compared to analyst estimates of $955.78 million. Visteon had a return on equity of 14.61% and a net margin of 5.58%.The firm’s revenue for the quarter was down .9% on a year-over-year basis. During the same quarter last year, the business earned $2.39 earnings per share. As a group, equities analysts forecast that Visteon Corporation will post 8.6 earnings per share for the current fiscal year.

Visteon Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Monday, June 1st. Visteon’s payout ratio is presently 19.61%.

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.