Principal Financial Group Inc. Purchases 8,500 Shares of Visteon Co. (NASDAQ:VC)

Principal Financial Group Inc. raised its stake in Visteon Co. (NASDAQ:VC - Free Report) by 3.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 274,365 shares of the company's stock after buying an additional 8,500 shares during the quarter. Principal Financial Group Inc. owned about 0.99% of Visteon worth $26,131,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in VC. Signaturefd LLC grew its holdings in shares of Visteon by 70.8% during the second quarter. Signaturefd LLC now owns 287 shares of the company's stock worth $31,000 after buying an additional 119 shares in the last quarter. KBC Group NV grew its stake in shares of Visteon by 37.7% during the 3rd quarter. KBC Group NV now owns 902 shares of the company's stock worth $86,000 after acquiring an additional 247 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Visteon in the second quarter valued at approximately $89,000. nVerses Capital LLC lifted its position in shares of Visteon by 22.2% in the second quarter. nVerses Capital LLC now owns 1,100 shares of the company's stock worth $117,000 after purchasing an additional 200 shares in the last quarter. Finally, Covestor Ltd boosted its holdings in Visteon by 14.8% during the third quarter. Covestor Ltd now owns 1,567 shares of the company's stock worth $149,000 after purchasing an additional 202 shares during the last quarter. Institutional investors and hedge funds own 99.71% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on VC shares. The Goldman Sachs Group lowered their price target on shares of Visteon from $130.00 to $117.00 and set a "buy" rating on the stock in a research note on Tuesday, October 1st. StockNews.com lowered Visteon from a "buy" rating to a "hold" rating in a report on Sunday, November 3rd. Barclays decreased their price target on Visteon from $145.00 to $140.00 and set an "overweight" rating for the company in a research note on Tuesday, October 15th. Royal Bank of Canada lowered their price target on Visteon from $129.00 to $124.00 and set an "outperform" rating on the stock in a research report on Friday, October 25th. Finally, Wolfe Research assumed coverage on Visteon in a report on Thursday, September 5th. They issued a "peer perform" rating for the company. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Visteon presently has an average rating of "Moderate Buy" and a consensus target price of $127.15.

Visteon Stock Performance

VC stock traded up $0.60 during trading hours on Wednesday, hitting $87.59. 129,848 shares of the stock were exchanged, compared to its average volume of 280,661. Visteon Co. has a 12 month low of $84.01 and a 12 month high of $130.10. The firm has a market capitalization of $2.42 billion, a P/E ratio of 4.76, a P/E/G ratio of 0.44 and a beta of 1.44. The company has a 50-day simple moving average of $91.55 and a two-hundred day simple moving average of $97.80. The company has a current ratio of 1.82, a quick ratio of 1.47 and a debt-to-equity ratio of 0.24.

Visteon (NASDAQ:VC - Get Free Report) last issued its earnings results on Thursday, October 24th. The company reported $2.26 earnings per share for the quarter, beating analysts' consensus estimates of $1.89 by $0.37. Visteon had a return on equity of 46.19% and a net margin of 13.22%. The firm had revenue of $980.00 million for the quarter, compared to the consensus estimate of $965.60 million. During the same quarter last year, the business posted $2.35 EPS. The company's revenue was down 3.4% compared to the same quarter last year. On average, analysts forecast that Visteon Co. will post 8.2 earnings per share for the current fiscal 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.