Visteon Corporation (VC) Shares Sold by New York State Common Retirement Fund
New York State Common Retirement Fund trimmed its position in shares of Visteon Corporation (NYSE:VC) by 9.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 358,837 shares of the auto parts company’s stock after selling 37,420 shares during the quarter. New York State Common Retirement Fund owned 1.15% of Visteon Corporation worth $36,623,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in VC. BNP Paribas Arbitrage SA boosted its holdings in Visteon Corporation by 64.6% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 1,340 shares of the auto parts company’s stock valued at $137,000 after acquiring an additional 526 shares during the period. Riverhead Capital Management LLC purchased a new position in Visteon Corporation during the 2nd quarter valued at about $153,000. World Asset Management Inc purchased a new position in Visteon Corporation during the 1st quarter valued at about $201,000. Fox Run Management L.L.C. purchased a new position in Visteon Corporation during the 2nd quarter valued at about $204,000. Finally, KCG Holdings Inc. purchased a new position in Visteon Corporation during the 1st quarter valued at about $209,000.
A number of equities analysts recently commented on the company. Zacks Investment Research upgraded Visteon Corporation from a “hold” rating to a “buy” rating and set a $117.00 target price for the company in a report on Thursday, July 13th. Gabelli cut Visteon Corporation from a “buy” rating to a “hold” rating in a report on Friday, July 28th. They noted that the move was a valuation call. UBS AG cut Visteon Corporation from a “buy” rating to a “neutral” rating and raised their target price for the company from $108.00 to $113.00 in a report on Monday, July 31st. BMO Capital Markets upgraded Visteon Corporation from a “market perform” rating to an “outperform” rating in a report on Friday. Finally, BidaskClub upgraded Visteon Corporation from a “buy” rating to a “strong-buy” rating in a report on Monday, July 24th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Visteon Corporation currently has an average rating of “Buy” and a consensus target price of $113.00.
Shares of Visteon Corporation (VC) opened at 125.46 on Monday. The firm has a market cap of $3.91 billion, a price-to-earnings ratio of 30.33 and a beta of 0.81. Visteon Corporation has a 52-week low of $64.95 and a 52-week high of $125.48. The firm has a 50-day moving average price of $114.64 and a 200-day moving average price of $103.69.
Visteon Corporation (NYSE:VC) last issued its earnings results on Thursday, July 27th. The auto parts company reported $1.38 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.24 by $0.14. Visteon Corporation had a return on equity of 27.56% and a net margin of 4.35%. The company had revenue of $774.00 million during the quarter, compared to the consensus estimate of $770.96 million. During the same quarter in the prior year, the business earned $1.22 earnings per share. The company’s revenue was up .1% compared to the same quarter last year. Analysts predict that Visteon Corporation will post $6.11 EPS for the current fiscal year.
In other news, insider Sunil K. Bilolikar sold 2,394 shares of the company’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $110.93, for a total value of $265,566.42. Following the completion of the sale, the insider now owns 300 shares of the company’s stock, valued at $33,279. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Stephanie S. Marianos sold 512 shares of the company’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $119.74, for a total value of $61,306.88. Following the completion of the sale, the vice president now directly owns 431 shares of the company’s stock, valued at approximately $51,607.94. The disclosure for this sale can be found here. Insiders sold 5,371 shares of company stock valued at $616,016 in the last ninety days. Company insiders own 0.19% of the company’s stock.
About Visteon Corporation
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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