Eventide Asset Management LLC Raises Position in Vistra Corp. (NYSE:VST)

Eventide Asset Management LLC grew its position in Vistra Corp. (NYSE:VST) by 37.0% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 676,388 shares of the company’s stock after purchasing an additional 182,585 shares during the quarter. Vistra accounts for approximately 1.4% of Eventide Asset Management LLC’s investment portfolio, making the stock its 20th biggest holding. Eventide Asset Management LLC’s holdings in Vistra were worth $80,179,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Verition Fund Management LLC raised its holdings in Vistra by 16.6% in the third quarter. Verition Fund Management LLC now owns 202,166 shares of the company’s stock worth $23,965,000 after buying an additional 28,761 shares during the last quarter. Goldentree Asset Management LP bought a new stake in shares of Vistra in the third quarter worth approximately $12,256,000. Captrust Financial Advisors grew its stake in shares of Vistra by 2.5% in the third quarter. Captrust Financial Advisors now owns 42,970 shares of the company’s stock worth $5,094,000 after acquiring an additional 1,028 shares during the period. Rockefeller Capital Management L.P. grew its stake in shares of Vistra by 68.5% in the third quarter. Rockefeller Capital Management L.P. now owns 21,474 shares of the company’s stock worth $2,545,000 after acquiring an additional 8,727 shares during the period. Finally, Hantz Financial Services Inc. bought a new stake in shares of Vistra in the third quarter worth approximately $192,000. 90.88% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Vistra news, EVP Scott A. Hudson sold 115,000 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $164.16, for a total value of $18,878,400.00. Following the completion of the transaction, the executive vice president now directly owns 254,932 shares in the company, valued at $41,849,637.12. This represents a 31.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Stephen J. Muscato sold 207,100 shares of the business’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $161.34, for a total transaction of $33,413,514.00. Following the completion of the transaction, the executive vice president now directly owns 318,287 shares in the company, valued at $51,352,424.58. This trade represents a 39.42 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.42% of the company’s stock.

Vistra Stock Performance

VST opened at $154.52 on Friday. The firm has a market cap of $52.57 billion, a P/E ratio of 28.83, a PEG ratio of 1.98 and a beta of 1.09. Vistra Corp. has a 1-year low of $34.88 and a 1-year high of $168.67. The company has a 50 day simple moving average of $132.47 and a two-hundred day simple moving average of $101.77. The company has a debt-to-equity ratio of 4.68, a current ratio of 1.11 and a quick ratio of 0.99.

Vistra declared that its board has approved a stock repurchase program on Thursday, November 7th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 2.1% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Vistra Increases Dividend

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

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Guggenheim lifted their price target on shares of Vistra from $133.00 to $177.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Jefferies Financial Group lifted their price target on shares of Vistra from $99.00 to $137.00 and gave the stock a “buy” rating in a research note on Tuesday, September 24th. 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 research note on Tuesday, October 29th. JPMorgan Chase & Co. started coverage on shares of Vistra in a research report on Thursday, October 17th. They set an “overweight” rating and a $178.00 target price for the company. Finally, UBS Group cut their target price on shares of Vistra from $157.00 to $150.00 and set a “buy” rating for the company in a research report on Tuesday, October 22nd. Ten equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $149.10.

Vistra Company Profile

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.