Legato Capital Management LLC Purchases New Shares in Visteon Corporation $VC

Legato Capital Management LLC purchased a new stake in Visteon Corporation (NASDAQ:VC) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 22,225 shares of the company’s stock, valued at approximately $2,664,000. Legato Capital Management LLC owned about 0.08% of Visteon as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Cullen Frost Bankers Inc. bought a new position in shares of Visteon in the third quarter worth about $30,000. USA Financial Formulas bought a new position in Visteon in the 3rd quarter worth approximately $44,000. EMC Capital Management bought a new position in Visteon in the 2nd quarter worth approximately $45,000. Plato Investment Management Ltd acquired a new position in Visteon during the 3rd quarter worth $48,000. Finally, Hantz Financial Services Inc. boosted its position in Visteon by 72.0% in the 3rd quarter. Hantz Financial Services Inc. now owns 423 shares of the company’s stock valued at $51,000 after buying an additional 177 shares during the last quarter. Institutional investors own 99.71% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on VC. Wolfe Research lowered Visteon from an “outperform” rating to a “peer perform” rating in a research note on Monday, January 12th. Deutsche Bank Aktiengesellschaft set a $117.00 target price on shares of Visteon in a research report on Friday, February 20th. Robert W. Baird lowered their price target on shares of Visteon from $126.00 to $119.00 and set an “outperform” rating for the company in a research report on Friday, February 20th. UBS Group cut their price objective on shares of Visteon from $130.00 to $120.00 and set a “buy” rating on the stock in a report on Friday, February 20th. Finally, Royal Bank Of Canada lowered their target price on shares of Visteon from $140.00 to $127.00 and set an “outperform” rating for the company in a report on Friday, February 20th. Nine analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $122.15.

Visteon Stock Down 0.2%

Shares of VC stock opened at $95.45 on Tuesday. Visteon Corporation has a 12-month low of $65.10 and a 12-month high of $129.10. The company has a quick ratio of 1.53, a current ratio of 1.80 and a debt-to-equity ratio of 0.17. The firm has a fifty day moving average of $97.46 and a 200-day moving average of $107.54. The company has a market capitalization of $2.56 billion, a price-to-earnings ratio of 10.12, a P/E/G ratio of 1.15 and a beta of 1.16.

Visteon (NASDAQ:VC) last announced its earnings results on Thursday, February 19th. The company reported $2.96 earnings per share for the quarter, topping analysts’ consensus estimates of $2.08 by $0.88. The firm had revenue of $948.00 million during the quarter, compared to analyst estimates of $920.25 million. Visteon had a net margin of 6.93% and a return on equity of 17.94%. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period in the prior year, the business earned $4.44 EPS. As a group, equities research analysts predict that Visteon Corporation will post 8.42 earnings per share for the current fiscal year.

Visteon Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 2nd will be issued a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.6%. This is a boost from Visteon’s previous quarterly dividend of $0.28. The ex-dividend date is Monday, March 2nd. Visteon’s dividend payout ratio is 15.91%.

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.