HITE Hedge Asset Management LLC Takes $5.03 Million Position in Visteon Corporation $VC

HITE Hedge Asset Management LLC bought a new position in shares of Visteon Corporation (NASDAQ:VC) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 42,001 shares of the company’s stock, valued at approximately $5,034,000. HITE Hedge Asset Management LLC owned about 0.15% of Visteon as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the business. American Century Companies Inc. increased its holdings in Visteon by 28.6% during the 2nd quarter. American Century Companies Inc. now owns 2,222,551 shares of the company’s stock worth $207,364,000 after purchasing an additional 494,820 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Visteon by 64.6% in the 3rd quarter. Principal Financial Group Inc. now owns 422,392 shares of the company’s stock valued at $50,628,000 after purchasing an additional 165,729 shares in the last quarter. Bridgeway Capital Management LLC purchased a new position in shares of Visteon during the 2nd quarter valued at approximately $15,156,000. Empowered Funds LLC acquired a new stake in shares of Visteon during the second quarter worth approximately $13,796,000. Finally, Covalis Capital LLP grew its position in shares of Visteon by 117.1% during the second quarter. Covalis Capital LLP now owns 268,613 shares of the company’s stock worth $25,062,000 after buying an additional 144,899 shares in the last quarter. Institutional investors and hedge funds own 99.71% of the company’s stock.

Insider Buying and Selling

In other news, CEO Sachin Lawande sold 49,453 shares of the company’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $93.44, for a total transaction of $4,620,888.32. Following the completion of the transaction, the chief executive officer directly owned 175,527 shares of the company’s stock, valued at approximately $16,401,242.88. This represents a 21.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.00% of the stock is currently owned by insiders.

Visteon Stock Performance

Visteon stock opened at $90.24 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.80 and a quick ratio of 1.53. Visteon Corporation has a 12 month low of $65.10 and a 12 month high of $129.10. The company has a fifty day moving average price of $96.67 and a two-hundred day moving average price of $106.05. The company has a market cap of $2.42 billion, a PE ratio of 9.57, a P/E/G ratio of 1.09 and a beta of 1.15.

Visteon (NASDAQ:VC) last issued 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. Visteon had a net margin of 6.93% and a return on equity of 17.94%. The company had revenue of $948.00 million for the quarter, compared to analysts’ expectations of $920.25 million. During the same period in the prior year, the company earned $4.44 earnings per share. The firm’s revenue was up 1.0% compared to the same quarter last year. Research analysts expect that Visteon Corporation will post 8.42 earnings per share for the current year.

Visteon Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 2nd will be issued a $0.375 dividend. This is an increase from Visteon’s previous quarterly dividend of $0.28. This represents a $1.50 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Monday, March 2nd. Visteon’s dividend payout ratio is 15.91%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on VC shares. Wells Fargo & Company cut their price target on shares of Visteon from $148.00 to $125.00 and set an “overweight” rating on the stock in a report on Friday, February 20th. Barclays decreased their price objective on shares of Visteon from $130.00 to $110.00 and set an “equal weight” rating for the company in a report on Friday, January 23rd. UBS Group dropped their target price on shares of Visteon from $130.00 to $120.00 and set a “buy” rating for the company in a research report on Friday, February 20th. JPMorgan Chase & Co. reduced their price target on shares of Visteon from $118.00 to $110.00 and set a “neutral” rating on the stock in a research report on Monday. Finally, Wall Street Zen upgraded Visteon from a “hold” rating to a “buy” rating in a research note on Saturday, March 7th. Eight equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, Visteon has a consensus rating of “Moderate Buy” and a consensus price target of $122.33.

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.