Visteon Corporation $VC Position Boosted by Empowered Funds LLC

Empowered Funds LLC grew its holdings in Visteon Corporation (NASDAQ:VC) by 25.5% during the first quarter, Holdings Channel.com reports. The firm owned 172,936 shares of the company’s stock after buying an additional 35,111 shares during the period. Empowered Funds LLC’s holdings in Visteon were worth $15,756,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in VC. First Trust Advisors LP boosted its holdings in shares of Visteon by 124.0% during the first quarter. First Trust Advisors LP now owns 519,041 shares of the company’s stock worth $47,290,000 after purchasing an additional 287,359 shares during the period. Boston Partners acquired a new position in Visteon in the 4th quarter valued at approximately $25,342,000. Squarepoint Ops LLC acquired a new position in Visteon in the 4th quarter valued at approximately $22,361,000. Victory Capital Management Inc. lifted its position in Visteon by 16.3% in the 4th quarter. Victory Capital Management Inc. now owns 1,334,406 shares of the company’s stock worth $126,902,000 after buying an additional 187,347 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Visteon by 14.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,403,695 shares of the company’s stock worth $127,879,000 after buying an additional 175,679 shares in the last quarter. 99.71% of the stock is owned by hedge funds and other institutional investors.

Visteon Price Performance

Shares of VC opened at $106.72 on Thursday. 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 cap of $2.85 billion, a PE ratio of 13.95, a PEG ratio of 0.68 and a beta of 1.29. The firm’s 50 day moving average price is $110.62 and its 200 day moving average price is $102.31. Visteon Corporation has a twelve month low of $83.49 and a twelve month high of $129.10.

Visteon (NASDAQ:VC) last posted its earnings results on Thursday, July 23rd. The company reported $1.91 EPS for the quarter, missing the consensus estimate of $2.21 by ($0.30). Visteon had a return on equity of 14.61% and a net margin of 5.58%.The business had revenue of $960.00 million during the quarter, compared to the consensus estimate of $955.78 million. During the same period in the prior year, the firm earned $2.39 earnings per share. The business’s revenue was down .9% on a year-over-year basis. As a group, research analysts expect that Visteon Corporation will post 8.49 EPS for the current fiscal year.

Visteon Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on VC shares. Barclays raised shares of Visteon from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $115.00 to $145.00 in a research note on Monday, June 22nd. UBS Group upped their price target on shares of Visteon from $120.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, April 24th. TD Cowen increased their price objective on Visteon from $130.00 to $135.00 and gave the stock a “buy” rating in a report on Monday, June 29th. Wall Street Zen cut Visteon from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Finally, JPMorgan Chase & Co. upgraded Visteon from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $108.00 to $165.00 in a research note on Monday, June 22nd. Ten equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $135.15.

Insider Buying and Selling

In related news, SVP Brett D. Pynnonen sold 5,000 shares of the company’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $120.00, for a total value of $600,000.00. Following the completion of the sale, the senior vice president directly owned 8,503 shares in the company, valued at approximately $1,020,360. This represents a 37.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Seungkyung Kim sold 600 shares of the stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $118.96, for a total transaction of $71,376.00. Following the transaction, the senior vice president directly owned 389 shares in the company, valued at $46,275.44. The trade was a 60.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 8,600 shares of company stock worth $1,023,776. Corporate insiders own 2.00% of the company’s stock.

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.