Teacher Retirement System of Texas Acquires 2,115 Shares of Veoneer, Inc. (NYSE:VNE)

Teacher Retirement System of Texas boosted its holdings in Veoneer, Inc. (NYSE:VNE) by 22.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,737 shares of the company’s stock after purchasing an additional 2,115 shares during the period. Teacher Retirement System of Texas’ holdings in Veoneer were worth $287,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. Dynamic Technology Lab Private Ltd acquired a new stake in Veoneer in the fourth quarter valued at $321,000. Rafferty Asset Management LLC lifted its stake in Veoneer by 592.7% in the first quarter. Rafferty Asset Management LLC now owns 190,591 shares of the company’s stock valued at $4,666,000 after acquiring an additional 163,076 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Veoneer by 5.4% in the fourth quarter. Victory Capital Management Inc. now owns 15,704 shares of the company’s stock valued at $334,000 after acquiring an additional 801 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its stake in Veoneer by 401.4% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 263,015 shares of the company’s stock valued at $5,602,000 after acquiring an additional 210,559 shares during the last quarter. Finally, California Public Employees Retirement System lifted its stake in Veoneer by 4.4% in the fourth quarter. California Public Employees Retirement System now owns 221,376 shares of the company’s stock valued at $4,715,000 after acquiring an additional 9,276 shares during the last quarter. 29.59% of the stock is owned by institutional investors and hedge funds.

A number of analysts have commented on the stock. Kepler Capital Markets cut shares of Veoneer to a “sell” rating and set a $19.00 price target for the company. in a research note on Friday, June 18th. Credit Suisse Group raised their target price on shares of Veoneer from $12.00 to $18.00 and gave the stock an “underperform” rating in a research note on Wednesday, March 3rd. Bank of America initiated coverage on shares of Veoneer in a research note on Tuesday, April 20th. They set an “underperform” rating and a $18.00 target price for the company. JPMorgan Chase & Co. initiated coverage on shares of Veoneer in a research note on Wednesday, April 21st. They set a “neutral” rating and a $24.00 target price for the company. Finally, Zacks Investment Research cut shares of Veoneer from a “hold” rating to a “sell” rating in a research note on Thursday, April 29th. Five equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. Veoneer currently has an average rating of “Hold” and an average price target of $19.92.

NYSE:VNE opened at $23.14 on Friday. Veoneer, Inc. has a 52 week low of $9.56 and a 52 week high of $30.71. The company has a market capitalization of $2.59 billion, a price-to-earnings ratio of -6.20 and a beta of 2.47. The business’s 50-day simple moving average is $23.61. The company has a current ratio of 2.13, a quick ratio of 1.87 and a debt-to-equity ratio of 0.20.

Veoneer (NYSE:VNE) last released its quarterly earnings results on Wednesday, April 28th. The company reported ($0.93) EPS for the quarter, missing analysts’ consensus estimates of ($0.86) by ($0.07). Veoneer had a negative return on equity of 30.99% and a negative net margin of 29.18%. The business had revenue of $419.00 million for the quarter, compared to the consensus estimate of $409.30 million. As a group, analysts anticipate that Veoneer, Inc. will post -3.12 EPS for the current fiscal year.

Veoneer Profile

Veoneer, Inc engages in the design, development, manufacture, and sale of automotive safety electronics primarily in North America, Europe, and Asia. It offers automotive radars, mono-and stereo-vision cameras, night driving assist systems, advanced driver assist systems (ADAS), electronic control units, airbag control units, crash sensors, seat belt pre-tensioner electronic controllers, and ADAS software for highly automated driving (HAD) and autonomous driving (AD).

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Institutional Ownership by Quarter for Veoneer (NYSE:VNE)

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