State of New Jersey Common Pension Fund D Sells 7,856 Shares of Visteon Co. (NASDAQ:VC)

State of New Jersey Common Pension Fund D lowered its holdings in shares of Visteon Co. (NASDAQ:VC) by 32.4% in the 2nd quarter, Holdings Channel.com reports. The firm owned 16,410 shares of the company’s stock after selling 7,856 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Visteon were worth $1,751,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in VC. Norges Bank bought a new position in shares of Visteon during the 4th quarter valued at about $40,092,000. Victory Capital Management Inc. boosted its holdings in shares of Visteon by 10.0% in the 2nd quarter. Victory Capital Management Inc. now owns 1,516,024 shares of the company’s stock valued at $161,760,000 after buying an additional 137,264 shares in the last quarter. Cubist Systematic Strategies LLC lifted its holdings in shares of Visteon by 416.5% during the 4th quarter. Cubist Systematic Strategies LLC now owns 149,070 shares of the company’s stock valued at $18,619,000 after purchasing an additional 120,210 shares during the last quarter. FIFTHDELTA Ltd grew its stake in shares of Visteon by 13.6% during the first quarter. FIFTHDELTA Ltd now owns 546,617 shares of the company’s stock worth $64,288,000 after acquiring an additional 65,500 shares during the last quarter. Finally, Edgestream Partners L.P. grew its position in Visteon by 370.4% during the 1st quarter. Edgestream Partners L.P. now owns 71,112 shares of the company’s stock worth $8,363,000 after purchasing an additional 55,995 shares during the last quarter. Institutional investors own 99.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Royal Bank of Canada cut their price objective on shares of Visteon from $144.00 to $129.00 and set an “outperform” rating on the stock in a research note on Thursday, August 22nd. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $124.00 price target on shares of Visteon in a research note on Tuesday, September 10th. Morgan Stanley reduced their price objective on shares of Visteon from $135.00 to $100.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 14th. TD Cowen dropped their target price on shares of Visteon from $142.00 to $140.00 and set a “buy” rating on the stock in a research report on Friday, July 26th. Finally, Citigroup reduced their price target on shares of Visteon from $139.00 to $126.00 and set a “buy” rating for the company in a research report on Friday, July 12th. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $130.36.

Visteon Price Performance

VC stock opened at $96.79 on Wednesday. Visteon Co. has a 1 year low of $88.37 and a 1 year high of $142.20. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.85 and a quick ratio of 1.50. The firm has a market capitalization of $2.67 billion, a PE ratio of 5.53, a price-to-earnings-growth ratio of 0.44 and a beta of 1.46. The business has a 50 day simple moving average of $101.07 and a 200-day simple moving average of $107.42.

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

Insider Activity

In other Visteon news, SVP Joao Paulo Ribeiro sold 3,859 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $111.73, for a total value of $431,166.07. Following the transaction, the senior vice president now owns 5,988 shares of the company’s stock, valued at $669,039.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate 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.