Standard Life Investments LTD Cuts Stake in Visteon Corp. (VC)
Standard Life Investments LTD cut its position in Visteon Corp. (NYSE:VC) by 17.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,279,858 shares of the company’s stock after selling 466,538 shares during the period. Standard Life Investments LTD owned 6.70% of Visteon Corp. worth $150,026,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently made changes to their positions in VC. Norges Bank purchased a new stake in shares of Visteon Corp. during the fourth quarter worth approximately $45,275,000. Copper Rock Capital Partners LLC purchased a new stake in shares of Visteon Corp. during the second quarter worth approximately $18,079,000. Jacobs Levy Equity Management Inc. increased its stake in shares of Visteon Corp. by 2,682.6% in the first quarter. Jacobs Levy Equity Management Inc. now owns 150,457 shares of the company’s stock worth $11,975,000 after buying an additional 145,050 shares in the last quarter. TIAA CREF Investment Management LLC increased its stake in shares of Visteon Corp. by 42.4% in the first quarter. TIAA CREF Investment Management LLC now owns 470,756 shares of the company’s stock worth $37,467,000 after buying an additional 140,126 shares in the last quarter. Finally, Loomis Sayles & Co. L P increased its stake in shares of Visteon Corp. by 31.5% in the first quarter. Loomis Sayles & Co. L P now owns 572,930 shares of the company’s stock worth $45,599,000 after buying an additional 137,192 shares in the last quarter.
Shares of Visteon Corp. (NYSE:VC) traded down 1.41% during trading on Tuesday, reaching $70.44. The company’s stock had a trading volume of 465,184 shares. The firm’s 50-day moving average is $71.38 and its 200 day moving average is $72.77. Visteon Corp. has a 52-week low of $58.83 and a 52-week high of $121.65. The company has a market cap of $2.40 billion, a PE ratio of 38.24 and a beta of 1.29.
Visteon Corp. (NYSE:VC) last issued its quarterly earnings results on Thursday, July 28th. The company reported $1.22 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.55. The business had revenue of $773 million for the quarter, compared to the consensus estimate of $821.07 million. Visteon Corp. had a return on equity of 11.55% and a net margin of 2.22%. The firm’s quarterly revenue was down 4.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.38 earnings per share. On average, equities research analysts predict that Visteon Corp. will post $4.45 EPS for the current fiscal year.
Several equities analysts recently commented on the company. Zacks Investment Research downgraded Visteon Corp. from a “hold” rating to a “sell” rating in a research report on Wednesday, July 20th. Raymond James Financial Inc. assumed coverage on Visteon Corp. in a research report on Wednesday, June 22nd. They set a “market perform” rating for the company. Wells Fargo & Co. restated a “hold” rating and set a $72.50 target price on shares of Visteon Corp. in a research report on Monday, July 18th. FBR & Co restated a “buy” rating and set a $90.00 target price on shares of Visteon Corp. in a research report on Sunday, June 19th. Finally, Robert W. Baird restated a “buy” rating on shares of Visteon Corp. in a research report on Tuesday, June 28th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $88.21.
About Visteon Corp.
Visteon Corporation is a global automotive supplier that designs, engineers and manufactures products for original equipment vehicle manufacturer (OEM) across the world, including Ford, Nissan, Renault, Mazda, BMW, General Motors and Honda. The Company’s segments include Electronics, which provides vehicle cockpit electronics products to customers, including audio systems, information displays, instrument clusters, head up displays, infotainment systems and telematics solutions, and Other, which includes entities located in Europe.
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