Wellington Management Group LLP Trims Holdings in Visteon Co. (NASDAQ:VC)

Wellington Management Group LLP decreased its holdings in shares of Visteon Co. (NASDAQ:VC) by 19.5% in the fourth quarter, HoldingsChannel reports. The firm owned 1,680,827 shares of the company’s stock after selling 407,913 shares during the quarter. Wellington Management Group LLP owned approximately 0.06% of Visteon worth $149,123,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Nomura Asset Management Co. Ltd. increased its position in shares of Visteon by 884.2% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 1,181 shares of the company’s stock valued at $105,000 after buying an additional 1,061 shares during the period. New Age Alpha Advisors LLC bought a new stake in Visteon during the 4th quarter valued at approximately $236,000. Norges Bank purchased a new position in shares of Visteon during the 4th quarter worth approximately $29,468,000. JPMorgan Chase & Co. raised its position in shares of Visteon by 2.7% in the 4th quarter. JPMorgan Chase & Co. now owns 656,347 shares of the company’s stock worth $58,231,000 after acquiring an additional 17,526 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Visteon by 26.2% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 34,828 shares of the company’s stock valued at $3,038,000 after purchasing an additional 7,235 shares during the period. 99.71% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on VC. Wells Fargo & Company increased their price objective on Visteon from $119.00 to $124.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. TD Cowen began coverage on shares of Visteon in a research report on Friday, March 7th. They set a “buy” rating and a $108.00 price target for the company. Royal Bank of Canada cut their price objective on shares of Visteon from $127.00 to $100.00 and set an “outperform” rating on the stock in a report on Wednesday, February 19th. Barclays lowered their target price on shares of Visteon from $115.00 to $110.00 and set an “overweight” rating for the company in a report on Monday, March 3rd. Finally, Morgan Stanley cut their price target on Visteon from $100.00 to $95.00 and set an “equal weight” rating on the stock in a research note on Monday, March 3rd. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $117.25.

Visteon Price Performance

NASDAQ VC opened at $78.96 on Thursday. Visteon Co. has a one year low of $75.35 and a one year high of $117.94. The stock has a 50-day moving average of $83.63 and a 200 day moving average of $88.25. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.47 and a current ratio of 1.74. The company has a market capitalization of $2.14 billion, a price-to-earnings ratio of 8.05, a PEG ratio of 0.42 and a beta of 1.39.

Visteon (NASDAQ:VC) last announced its quarterly earnings results on Tuesday, February 18th. The company reported $4.44 EPS for the quarter, topping analysts’ consensus estimates of $1.97 by $2.47. The firm had revenue of $939.00 million during the quarter, compared to analyst estimates of $954.17 million. Visteon had a net margin of 7.09% and a return on equity of 24.58%. On average, sell-side analysts forecast that Visteon Co. will post 8.42 EPS for the current year.

Visteon 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.