DNB Asset Management AS acquired a new stake in Veoneer Inc (NYSE:VNE) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 1,045,033 shares of the company’s stock, valued at approximately $18,090,000. DNB Asset Management AS owned approximately 1.20% of Veoneer as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in VNE. Whittier Trust Co. of Nevada Inc. increased its stake in Veoneer by 56.4% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 2,477 shares of the company’s stock valued at $57,000 after purchasing an additional 893 shares in the last quarter. Whittier Trust Co. increased its stake in Veoneer by 8.3% during the 1st quarter. Whittier Trust Co. now owns 15,561 shares of the company’s stock valued at $356,000 after purchasing an additional 1,197 shares in the last quarter. Legacy Advisors LLC bought a new stake in Veoneer during the 1st quarter valued at $28,000. Citigroup Inc. increased its stake in Veoneer by 113.7% during the 4th quarter. Citigroup Inc. now owns 4,011 shares of the company’s stock valued at $94,000 after purchasing an additional 2,134 shares in the last quarter. Finally, 13D Management LLC increased its stake in Veoneer by 4.2% during the 1st quarter. 13D Management LLC now owns 79,636 shares of the company’s stock valued at $1,923,000 after purchasing an additional 3,238 shares in the last quarter. Institutional investors own 26.14% of the company’s stock.
Shares of NYSE:VNE traded up $0.93 during midday trading on Tuesday, reaching $17.24. The company had a trading volume of 696,900 shares, compared to its average volume of 754,714. The stock has a 50 day simple moving average of $16.79. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.99 and a current ratio of 2.28. The stock has a market capitalization of $1.82 billion and a PE ratio of -5.44. Veoneer Inc has a 52-week low of $15.41 and a 52-week high of $57.93.
Veoneer (NYSE:VNE) last issued its quarterly earnings results on Monday, April 29th. The company reported ($1.57) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.31) by ($0.26). The company had revenue of $494.00 million during the quarter, compared to analysts’ expectations of $512.35 million. Veoneer had a negative return on equity of 19.50% and a negative net margin of 17.96%. On average, equities research analysts forecast that Veoneer Inc will post -5.2 earnings per share for the current fiscal year.
A number of brokerages have commented on VNE. Robert W. Baird boosted their price target on shares of Shopify from $208.00 to $269.00 and gave the company an “outperform” rating in a research note on Tuesday, April 30th. Barclays restated a “buy” rating on shares of NXP Semiconductors in a research note on Sunday, May 5th. Mizuho cut their price objective on shares of Veoneer from $40.00 to $35.00 and set a “buy” rating on the stock in a report on Tuesday, April 30th. Longbow Research set a $26.00 price objective on shares of Veoneer and gave the stock a “buy” rating in a report on Thursday, June 20th. Finally, Credit Suisse Group reaffirmed an “outperform” rating and set a GBX 1,206 ($15.76) price objective on shares of in a report on Thursday, June 27th. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $32.85.
Veoneer, Inc designs, develops, manufactures, and sells automotive safety electronic products in Asia, the Americas, and Europe. It operates in two segments, Electronics and Brake Systems. The company provides automotive radars, night driving assist systems, positioning systems, advanced driver assistance systems (ADAS), night vision systems, brake control systems, electronic control units, active safety sensors, and controllers; mono-and stereo-vision cameras; and passive safety electronics, such as airbag control units and crash sensors.
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