Granite Investment Partners LLC Sells 197,921 Shares of Visteon Co. (NASDAQ:VC)

Granite Investment Partners LLC lessened its holdings in Visteon Co. (NASDAQ:VC) by 98.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,423 shares of the company’s stock after selling 197,921 shares during the quarter. Granite Investment Partners LLC’s holdings in Visteon were worth $259,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in VC. Retirement Systems of Alabama increased its position in Visteon by 0.3% in the first quarter. Retirement Systems of Alabama now owns 34,923 shares of the company’s stock worth $4,107,000 after buying an additional 91 shares during the last quarter. State of Michigan Retirement System grew its stake in shares of Visteon by 1.5% during the 1st quarter. State of Michigan Retirement System now owns 6,807 shares of the company’s stock worth $801,000 after acquiring an additional 100 shares during the period. Signaturefd LLC increased its holdings in Visteon by 70.8% in the 2nd quarter. Signaturefd LLC now owns 287 shares of the company’s stock worth $31,000 after acquiring an additional 119 shares during the last quarter. Parallel Advisors LLC raised its stake in Visteon by 98.6% in the 4th quarter. Parallel Advisors LLC now owns 286 shares of the company’s stock valued at $36,000 after acquiring an additional 142 shares during the period. Finally, Orion Portfolio Solutions LLC lifted its holdings in Visteon by 2.3% during the fourth quarter. Orion Portfolio Solutions LLC now owns 7,711 shares of the company’s stock valued at $909,000 after purchasing an additional 171 shares during the last quarter. 99.71% of the stock is owned by hedge funds and other institutional investors.

Visteon Stock Performance

Shares of NASDAQ VC opened at $95.30 on Friday. The stock has a market cap of $2.63 billion, a price-to-earnings ratio of 5.45, a P/E/G ratio of 0.44 and a beta of 1.46. The stock’s 50-day moving average is $101.40 and its 200 day moving average is $107.70. The company has a current ratio of 1.85, a quick ratio of 1.50 and a debt-to-equity ratio of 0.26. Visteon Co. has a 1-year low of $88.37 and a 1-year high of $143.97.

Visteon (NASDAQ:VC) last announced its quarterly earnings data on Thursday, July 25th. The company reported $2.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.96 by $0.58. The company had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Visteon had a net margin of 13.79% and a return on equity of 51.69%. The firm’s revenue was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.18 EPS. On average, sell-side analysts anticipate that Visteon Co. will post 8.06 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Citigroup lowered their price target on shares of Visteon from $139.00 to $126.00 and set a “buy” rating on the stock in a research report on Friday, July 12th. UBS Group cut their price target on Visteon from $144.00 to $135.00 and set a “buy” rating for the company in a report on Wednesday, July 10th. Wolfe Research began coverage on Visteon in a research note on Thursday, September 5th. They set a “peer perform” rating on the stock. Wells Fargo & Company upgraded Visteon from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $115.00 to $122.00 in a research note on Friday. Finally, Morgan Stanley lowered their price target on shares of Visteon from $135.00 to $100.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 14th. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, Visteon presently has a consensus rating of “Moderate Buy” and an average price target of $130.36.

Insider Activity

In other Visteon news, SVP Joao Paulo Ribeiro sold 3,859 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $111.73, for a total value of $431,166.07. Following the completion of the sale, the senior vice president now owns 5,988 shares in the company, valued at $669,039.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.00% of the company’s stock.

Visteon Company Profile

Visteon Corporation, an automotive technology company, designs, manufactures, and sells automotive electronics and connected car solutions for vehicle manufacturers worldwide. The company provides instrument clusters, including analog gauge clusters for 2-D and 3-D display-based devices; information displays that integrate a range of user interface technologies and graphics management capabilities, such as active privacy, TrueColor enhancement, local dimming, cameras, optics, haptic feedback, and light effects; and infotainment and connected car solutions, including scalable Android infotainment for seamless connectivity, as well as onboard artificial intelligence-based voice assistants with natural language understanding.