Principal Financial Group Inc. Has $23.77 Million Stake in Visteon Co. (NASDAQ:VC)

Principal Financial Group Inc. trimmed its stake in shares of Visteon Co. (NASDAQ:VC) by 2.3% during the fourth quarter, HoldingsChannel reports. The fund owned 267,966 shares of the company’s stock after selling 6,399 shares during the period. Principal Financial Group Inc.’s holdings in Visteon were worth $23,774,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Creative Planning increased its stake in Visteon by 87.5% in the 3rd quarter. Creative Planning now owns 8,914 shares of the company’s stock valued at $849,000 after buying an additional 4,160 shares during the last quarter. Signaturefd LLC increased its stake in Visteon by 46.7% in the 3rd quarter. Signaturefd LLC now owns 421 shares of the company’s stock valued at $40,000 after buying an additional 134 shares during the last quarter. State of Alaska Department of Revenue increased its stake in Visteon by 7.2% in the 3rd quarter. State of Alaska Department of Revenue now owns 3,221 shares of the company’s stock valued at $306,000 after buying an additional 215 shares during the last quarter. Olympiad Research LP acquired a new stake in Visteon in the 3rd quarter valued at $429,000. Finally, Summit Global Investments bought a new position in shares of Visteon in the 3rd quarter valued at about $518,000. 99.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

VC has been the subject of a number of analyst reports. Wells Fargo & Company lifted their price objective on shares of Visteon from $119.00 to $124.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. Barclays decreased their price objective on shares of Visteon from $140.00 to $115.00 and set an “overweight” rating for the company in a research report on Wednesday, January 22nd. Royal Bank of Canada decreased their price objective on shares of Visteon from $127.00 to $100.00 and set an “outperform” rating for the company in a research report on Wednesday, February 19th. Finally, StockNews.com downgraded shares of Visteon from a “buy” rating to a “hold” rating in a research report on Sunday, November 3rd. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $123.77.

Visteon Price Performance

Shares of Visteon stock opened at $88.61 on Monday. Visteon Co. has a twelve month low of $75.75 and a twelve month high of $121.45. The company has a quick ratio of 1.47, a current ratio of 1.74 and a debt-to-equity ratio of 0.23. The company has a 50-day simple moving average of $85.50 and a two-hundred day simple moving average of $91.04. The stock has a market capitalization of $2.40 billion, a price-to-earnings ratio of 9.03, a price-to-earnings-growth ratio of 0.42 and a beta of 1.44.

Visteon (NASDAQ:VC) last issued its quarterly earnings data on Tuesday, February 18th. The company reported $4.44 earnings per share for the quarter, topping the consensus estimate of $1.97 by $2.47. Visteon had a net margin of 7.09% and a return on equity of 24.58%. The business had revenue of $939.00 million during the quarter, compared to analysts’ expectations of $954.17 million. Analysts forecast that Visteon Co. will post 8.42 EPS for the current year.

About Visteon

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.