Canada Pension Plan Investment Board raised its stake in Visteon Corporation (NYSE:VC) by 47.1% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 143,400 shares of the auto parts company’s stock after buying an additional 45,900 shares during the period. Canada Pension Plan Investment Board owned approximately 0.46% of Visteon Corporation worth $14,635,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Independent Portfolio Consultants Inc. raised its stake in Visteon Corporation by 47.9% in the first quarter. Independent Portfolio Consultants Inc. now owns 1,080 shares of the auto parts company’s stock valued at $106,000 after buying an additional 350 shares during the period. James Investment Research Inc. purchased a new stake in Visteon Corporation during the first quarter valued at about $157,000. Creative Planning raised its stake in Visteon Corporation by 29.4% in the first quarter. Creative Planning now owns 1,820 shares of the auto parts company’s stock valued at $178,000 after buying an additional 414 shares during the period. World Asset Management Inc purchased a new stake in Visteon Corporation during the first quarter valued at about $201,000. Finally, Fox Run Management L.L.C. purchased a new stake in Visteon Corporation during the second quarter valued at about $204,000.
Visteon Corporation (NYSE:VC) opened at 114.45 on Wednesday. Visteon Corporation has a 12 month low of $64.95 and a 12 month high of $116.78. The stock has a 50 day moving average of $108.06 and a 200 day moving average of $99.59. The company has a market capitalization of $3.57 billion, a price-to-earnings ratio of 27.66 and a beta of 0.91.
Visteon Corporation (NYSE:VC) last released its earnings results on Thursday, July 27th. The auto parts company reported $1.38 EPS for the quarter, topping the Zacks’ consensus estimate of $1.24 by $0.14. The company had revenue of $774 million for the quarter, compared to analysts’ expectations of $770.96 million. Visteon Corporation had a return on equity of 27.56% and a net margin of 4.35%. The business’s revenue for the quarter was up .1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.22 EPS. Equities analysts anticipate that Visteon Corporation will post $6.11 EPS for the current fiscal year.
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Several analysts have issued reports on the stock. Barclays PLC reaffirmed an “equal weight” rating and set a $98.00 price target (up from $97.00) on shares of Visteon Corporation in a research report on Wednesday, August 2nd. BidaskClub lowered shares of Visteon Corporation from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Wells Fargo & Company raised shares of Visteon Corporation from a “market perform” rating to an “outperform” rating and set a $140.00 price target on the stock in a research report on Monday, July 31st. BMO Capital Markets upped their price target on shares of Visteon Corporation from $115.00 to $130.00 and gave the stock an “outperform” rating in a research report on Monday, July 31st. Finally, Gabelli lowered shares of Visteon Corporation from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. They noted that the move was a valuation call. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Visteon Corporation presently has a consensus rating of “Buy” and an average price target of $113.00.
In other news, insider Sunil K. Bilolikar sold 2,394 shares of Visteon Corporation stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $110.93, for a total transaction of $265,566.42. Following the sale, the insider now directly owns 300 shares in the company, valued at approximately $33,279. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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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