Louisiana State Employees Retirement System Invests $720,000 in Visteon Corporation $VC

Louisiana State Employees Retirement System bought a new stake in Visteon Corporation (NASDAQ:VC) in the first quarter, Holdings Channel.com reports. The firm bought 7,900 shares of the company’s stock, valued at approximately $720,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Royal Bank of Canada grew its position in shares of Visteon by 389.3% in the first 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 in the last quarter. Goldman Sachs Group Inc. raised its stake 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 valued at $19,371,000 after acquiring an additional 59,764 shares in the last quarter. Amundi raised its stake in Visteon by 1.3% in the second quarter. Amundi now owns 6,862 shares of the company’s stock valued at $706,000 after buying an additional 86 shares in the last quarter. Jump Financial LLC lifted its position in shares of Visteon by 43.0% during the 2nd quarter. Jump Financial LLC now owns 16,833 shares of the company’s stock worth $1,571,000 after buying an additional 5,059 shares during the last quarter. Finally, Cerity Partners LLC acquired a new position in shares of Visteon in the 2nd quarter valued at $1,150,000. 99.71% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

VC has been the subject of a number of research reports. Wells Fargo & Company reduced their price target on shares of Visteon from $139.00 to $137.00 and set an “overweight” rating for the company in a research report on Thursday, June 25th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Visteon from $121.00 to $133.00 and gave the stock a “buy” rating in a research note on Friday, June 26th. 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 report on Monday, June 22nd. Robert W. Baird restated a “neutral” rating and issued a $121.00 price objective on shares of Visteon in a research report on Friday, June 26th. Finally, UBS Group lifted their price objective on Visteon from $120.00 to $130.00 and gave the company a “buy” rating in a report on Friday, April 24th. Eleven research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $135.54.

Insiders Place Their Bets

In other news, SVP Robert R. Vallance sold 1,000 shares of the stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $119.40, for a total transaction of $119,400.00. Following the transaction, the senior vice president directly owned 17,469 shares in the company, valued at $2,085,798.60. This represents a 5.41% 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, CEO Sachin Lawande sold 38,817 shares of Visteon stock in a transaction on Friday, April 24th. The shares were sold at an average price of $113.63, for a total transaction of $4,410,775.71. Following the completion of the transaction, the chief executive officer owned 193,822 shares in the company, valued at approximately $22,023,993.86. This trade 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. Over the last three months, insiders sold 58,901 shares of company stock valued at $6,699,220. Insiders own 2.00% of the company’s stock.

Visteon Price Performance

Shares of NASDAQ VC traded down $1.90 during midday trading on Tuesday, hitting $105.95. The company had a trading volume of 10,066 shares, compared to its average volume of 609,108. The firm has a market capitalization of $2.83 billion, a price-to-earnings ratio of 12.91, a price-to-earnings-growth ratio of 0.77 and a beta of 1.29. Visteon Corporation has a twelve month low of $83.49 and a twelve month high of $129.10. The business has a 50-day simple moving average of $113.08 and a two-hundred day simple moving average of $101.56. The company has a quick ratio of 1.43, a current ratio of 1.73 and a debt-to-equity ratio of 0.17.

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

Visteon Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were issued a $0.375 dividend. 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 payout ratio is 18.27%.

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.