Portfolio Design Labs LLC Makes New $1.80 Million Investment in Vistra Corp. (NYSE:VST)

Portfolio Design Labs LLC purchased a new stake in Vistra Corp. (NYSE:VST) in the third quarter, HoldingsChannel reports. The firm purchased 15,174 shares of the company’s stock, valued at approximately $1,799,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Redwood Wealth Management Group LLC purchased a new position in Vistra during the 2nd quarter valued at about $26,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Vistra in the third quarter valued at approximately $30,000. New Covenant Trust Company N.A. purchased a new position in shares of Vistra during the 1st quarter worth approximately $32,000. CVA Family Office LLC raised its position in shares of Vistra by 1,505.9% during the 3rd quarter. CVA Family Office LLC now owns 273 shares of the company’s stock worth $32,000 after purchasing an additional 256 shares during the last quarter. Finally, EdgeRock Capital LLC purchased a new stake in Vistra in the 2nd quarter valued at approximately $34,000. Institutional investors and hedge funds own 90.88% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on VST shares. BNP Paribas began coverage on Vistra in a research report on Monday, October 14th. They set an “outperform” rating and a $231.00 price target for the company. Morgan Stanley lifted their price objective on Vistra from $110.00 to $132.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. JPMorgan Chase & Co. began coverage on shares of Vistra in a report on Thursday, October 17th. They issued an “overweight” rating and a $178.00 target price on the stock. BMO Capital Markets lifted their price target on shares of Vistra from $146.00 to $147.00 and gave the stock an “outperform” rating in a report on Tuesday, October 29th. Finally, Royal Bank of Canada boosted their price objective on shares of Vistra from $105.00 to $141.00 and gave the company an “outperform” rating in a research report on Thursday, October 3rd. Ten investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $145.40.

Vistra Stock Up 5.6 %

VST opened at $154.85 on Wednesday. Vistra Corp. has a 1 year low of $34.25 and a 1 year high of $154.95. The firm has a 50 day moving average price of $122.52 and a 200 day moving average price of $98.51. The company has a debt-to-equity ratio of 4.68, a quick ratio of 0.99 and a current ratio of 1.11. The company has a market cap of $52.68 billion, a PE ratio of 28.89 and a beta of 1.09.

Vistra announced that its Board of Directors has authorized a share repurchase program on Thursday, November 7th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to repurchase up to 2.1% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

Vistra Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 20th will be given a $0.221 dividend. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.88 annualized dividend and a dividend yield of 0.57%. This is a positive change from Vistra’s previous quarterly dividend of $0.22. Vistra’s dividend payout ratio is presently 16.42%.

About Vistra

Vistra Corp., together with its subsidiaries, operates as an integrated retail electricity and power generation company. The company operates through six segments: Retail, Texas, East, West, Sunset, and Asset Closure. It retails electricity and natural gas to residential, commercial, and industrial customers across states in the United States and the District of Columbia.