Intech Investment Management LLC Acquires 61,628 Shares of Visteon Corporation $VC

Intech Investment Management LLC boosted its holdings in shares of Visteon Corporation (NASDAQ:VC) by 120.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 112,832 shares of the company’s stock after purchasing an additional 61,628 shares during the period. Intech Investment Management LLC’s holdings in Visteon were worth $13,524,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of VC. Cullen Frost Bankers Inc. bought a new stake in shares of Visteon in the 3rd quarter worth approximately $30,000. USA Financial Formulas purchased a new stake in Visteon in the third quarter worth $44,000. EMC Capital Management purchased a new stake in Visteon in the second quarter worth $45,000. Plato Investment Management Ltd bought a new stake in Visteon in the third quarter valued at $48,000. Finally, Hantz Financial Services Inc. increased its position in Visteon by 72.0% during the 3rd quarter. Hantz Financial Services Inc. now owns 423 shares of the company’s stock valued at $51,000 after purchasing an additional 177 shares during the period. Hedge funds and other institutional investors own 99.71% of the company’s stock.

Visteon Trading Down 0.9%

NASDAQ:VC opened at $98.73 on Friday. The firm has a market capitalization of $2.65 billion, a P/E ratio of 10.47, a PEG ratio of 1.20 and a beta of 1.16. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.80 and a quick ratio of 1.53. Visteon Corporation has a one year low of $65.10 and a one year high of $129.10. The company’s 50-day simple moving average is $97.60 and its 200 day simple moving average is $108.03.

Visteon (NASDAQ:VC) last released its earnings results on Thursday, February 19th. The company reported $2.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.88. Visteon had a net margin of 6.93% and a return on equity of 17.94%. The firm had revenue of $948.00 million during the quarter, compared to analyst estimates of $920.25 million. During the same period last year, the business earned $4.44 earnings per share. The business’s revenue was up 1.0% on a year-over-year basis. As a group, analysts forecast that Visteon Corporation will post 8.42 EPS for the current fiscal year.

Visteon Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 2nd will be paid a dividend of $0.375 per share. The ex-dividend date is Monday, March 2nd. This is a positive change from Visteon’s previous quarterly dividend of $0.28. This represents a $1.50 dividend on an annualized basis and a yield of 1.5%. Visteon’s dividend payout ratio (DPR) is presently 11.66%.

Analysts Set New Price Targets

VC has been the subject of several research analyst reports. Wolfe Research cut shares of Visteon from an “outperform” rating to a “peer perform” rating in a research report on Monday, January 12th. UBS Group decreased their price target on shares of Visteon from $130.00 to $120.00 and set a “buy” rating for the company in a research note on Friday, February 20th. Royal Bank Of Canada lowered their price objective on shares of Visteon from $140.00 to $127.00 and set an “outperform” rating for the company in a report on Friday, February 20th. Morgan Stanley upped their target price on Visteon from $95.00 to $114.00 and gave the stock an “equal weight” rating in a report on Monday, December 8th. Finally, Zacks Research lowered Visteon from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 30th. Nine investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, Visteon has an average rating of “Moderate Buy” and an average price target of $122.15.

Visteon Company 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.