Zurcher Kantonalbank Zurich Cantonalbank decreased its stake in shares of Veoneer Inc (NYSE:VNE) by 11.8% during the first quarter, HoldingsChannel.com reports. The firm owned 4,698 shares of the company’s stock after selling 628 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Veoneer were worth $107,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of VNE. Legacy Advisors LLC bought a new position in Veoneer during the first quarter valued at approximately $28,000. Whittier Trust Co. of Nevada Inc. bought a new position in Veoneer during the fourth quarter valued at approximately $37,000. Citigroup Inc. lifted its position in Veoneer by 113.7% during the fourth quarter. Citigroup Inc. now owns 4,011 shares of the company’s stock valued at $94,000 after purchasing an additional 2,134 shares during the period. NumerixS Investment Technologies Inc bought a new position in Veoneer during the fourth quarter valued at approximately $134,000. Finally, Canada Pension Plan Investment Board lifted its position in Veoneer by 368.7% during the fourth quarter. Canada Pension Plan Investment Board now owns 7,982 shares of the company’s stock valued at $188,000 after purchasing an additional 6,279 shares during the period. Institutional investors own 22.63% of the company’s stock.

VNE traded up $0.17 during trading on Friday, hitting $17.67. The company’s stock had a trading volume of 1,773,961 shares, compared to its average volume of 761,599. The company has a current ratio of 2.28, a quick ratio of 1.99 and a debt-to-equity ratio of 0.06. Veoneer Inc has a one year low of $17.25 and a one year high of $57.93. The company has a market capitalization of $1.54 billion and a PE ratio of -5.57.

Several research analysts have weighed in on VNE shares. Zacks Investment Research downgraded shares of Veoneer from a “hold” rating to a “sell” rating in a research report on Saturday, May 4th. Longbow Research reiterated a “buy” rating and issued a $26.00 price target on shares of Veoneer in a research report on Wednesday. BMO Capital Markets decreased their price target on shares of Veoneer to $30.00 and set an “outperform” rating on the stock in a research report on Monday, May 6th. Mizuho decreased their price target on shares of Veoneer from $40.00 to $35.00 and set a “buy” rating on the stock in a research report on Tuesday, April 30th. Finally, Robert W. Baird upgraded shares of Veoneer from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $21.00 to $28.00 in a research report on Tuesday, April 23rd. Five investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $37.60.

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Veoneer Company Profile

Veoneer, Inc designs, develops, manufactures, and sells automotive safety electronic products in Asia, the Americas, and Europe. It operates in two segments, Electronics and Brake Systems. The company provides automotive radars, night driving assist systems, positioning systems, advanced driver assistance systems (ADAS), night vision systems, brake control systems, electronic control units, active safety sensors, and controllers; mono-and stereo-vision cameras; and passive safety electronics, such as airbag control units and crash sensors.

Further Reading: Systematic Risk and Investors

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Institutional Ownership by Quarter for Veoneer (NYSE:VNE)

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