Visteon Corp (VC) Position Cut by Prudential Financial Inc.
Prudential Financial Inc. trimmed its stake in Visteon Corp (NYSE:VC) by 57.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,553 shares of the auto parts company’s stock after selling 3,420 shares during the quarter. Prudential Financial Inc.’s holdings in Visteon were worth $316,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Quantbot Technologies LP grew its stake in Visteon by 2.8% during the second quarter. Quantbot Technologies LP now owns 1,089 shares of the auto parts company’s stock worth $111,000 after buying an additional 30 shares during the period. The Manufacturers Life Insurance Company grew its stake in Visteon by 6.2% during the second quarter. The Manufacturers Life Insurance Company now owns 1,040 shares of the auto parts company’s stock worth $106,000 after buying an additional 61 shares during the period. ETRADE Capital Management LLC grew its stake in Visteon by 5.2% during the second quarter. ETRADE Capital Management LLC now owns 5,261 shares of the auto parts company’s stock worth $537,000 after buying an additional 261 shares during the period. BNP Paribas Arbitrage SA grew its stake in Visteon by 64.6% during the second quarter. BNP Paribas Arbitrage SA now owns 1,340 shares of the auto parts company’s stock worth $137,000 after buying an additional 526 shares during the period. Finally, USA Financial Portformulas Corp grew its stake in Visteon by 11.8% during the second quarter. USA Financial Portformulas Corp now owns 5,703 shares of the auto parts company’s stock worth $582,000 after buying an additional 603 shares during the period.
Several equities research analysts have issued reports on the stock. B. Riley reiterated a “buy” rating on shares of Visteon in a research note on Wednesday, November 1st. Jefferies Group assumed coverage on shares of Visteon in a research note on Thursday, September 28th. They set a “hold” rating and a $135.00 price objective for the company. Royal Bank of Canada reiterated a “hold” rating and set a $126.00 price objective on shares of Visteon in a research note on Wednesday, October 18th. Robert W. Baird reissued a “buy” rating and set a $143.00 target price on shares of Visteon in a research report on Tuesday, October 17th. Finally, Barclays boosted their target price on shares of Visteon from $107.00 to $112.00 and gave the stock an “equal weight” rating in a research report on Friday, October 27th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $123.86.
Visteon (NYSE:VC) last posted its earnings results on Thursday, October 26th. The auto parts company reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.17. The business had revenue of $765.00 million for the quarter, compared to analysts’ expectations of $761.95 million. Visteon had a net margin of 4.83% and a return on equity of 29.13%. The business’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.10 earnings per share. equities analysts forecast that Visteon Corp will post 6.23 earnings per share for the current fiscal year.
In related news, VP Stephanie S. Marianos sold 512 shares of the company’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $119.74, for a total value of $61,306.88. Following the sale, the vice president now directly owns 431 shares of the company’s stock, valued at $51,607.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Robert R. Vallance sold 1,106 shares of the company’s stock in a transaction on Tuesday, September 19th. The shares were sold at an average price of $121.12, for a total transaction of $133,958.72. Following the completion of the sale, the insider now directly owns 4,086 shares in the company, valued at $494,896.32. The disclosure for this sale can be found here. Insiders sold 13,622 shares of company stock worth $1,738,386 over the last ninety days. 0.19% of the stock is currently owned by corporate insiders.
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Visteon Corporation is a global automotive supplier that designs, engineers and manufactures electronics products for original equipment vehicle manufacturer (OEM), including Ford, Mazda, Nissan/Renault, General Motors, Honda BMW and Daimler. The Company operates through Electronics segment. The Electronics segment provides vehicle cockpit electronics products to customers, including instrument clusters, information displays, infotainment, audio systems, telematics solutions and head up displays.
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