Picton Mahoney Asset Management Buys Shares of 10,560 Visteon Corporation $VC

Picton Mahoney Asset Management purchased a new position in shares of Visteon Corporation (NASDAQ:VC) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 10,560 shares of the company’s stock, valued at approximately $1,266,000.

Several other hedge funds also recently modified their holdings of VC. Cullen Frost Bankers Inc. bought a new position in Visteon during the third quarter worth $30,000. USA Financial Formulas bought a new stake in Visteon in the 3rd quarter valued at $44,000. EMC Capital Management acquired a new stake in Visteon in the 2nd quarter worth $45,000. Plato Investment Management Ltd bought a new position in shares of Visteon during the 3rd quarter worth about $48,000. Finally, Hantz Financial Services Inc. increased its holdings in shares of Visteon by 72.0% during the 3rd quarter. Hantz Financial Services Inc. now owns 423 shares of the company’s stock worth $51,000 after purchasing an additional 177 shares during the period. 99.71% of the stock is owned by institutional investors.

Analyst Ratings Changes

VC has been the subject of several research reports. Barclays reduced their target price on shares of Visteon from $130.00 to $110.00 and set an “equal weight” rating for the company in a research note on Friday, January 23rd. Morgan Stanley raised their price objective on Visteon from $95.00 to $114.00 and gave the stock an “equal weight” rating in a research report on Monday, December 8th. Wells Fargo & Company decreased their price objective on Visteon from $148.00 to $125.00 and set an “overweight” rating on the stock in a report on Friday, February 20th. The Goldman Sachs Group set a $120.00 target price on Visteon in a research note on Thursday, January 15th. Finally, Wolfe Research cut Visteon from an “outperform” rating to a “peer perform” rating in a research report on Monday, January 12th. Nine research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $122.15.

Insiders Place Their Bets

In other Visteon news, CEO Sachin Lawande sold 49,453 shares of the company’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $93.44, for a total transaction of $4,620,888.32. Following the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.00% of the company’s stock.

Visteon Price Performance

Visteon stock opened at $90.60 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. The company has a market capitalization of $2.43 billion, a PE ratio of 9.61, a price-to-earnings-growth ratio of 1.11 and a beta of 1.15. Visteon Corporation has a one year low of $65.10 and a one year high of $129.10. The business has a 50 day simple moving average of $97.19 and a 200 day simple moving average of $107.13.

Visteon (NASDAQ:VC) last announced its quarterly earnings results on Thursday, February 19th. The company reported $2.96 earnings per share for the quarter, beating analysts’ consensus estimates of $2.08 by $0.88. The firm had revenue of $948.00 million for the quarter, compared to analysts’ expectations of $920.25 million. Visteon had a return on equity of 17.94% and a net margin of 6.93%.The business’s revenue was up 1.0% compared to the same quarter last year. During the same period in the prior year, the business posted $4.44 earnings per share. On average, sell-side analysts forecast that Visteon Corporation will post 8.42 EPS for the current fiscal year.

Visteon Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 2nd will be given a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 1.7%. 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 (DPR) is presently 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.