Massachusetts Financial Services Co. MA Raises Position in Vistra Corp. (NYSE:VST)

Massachusetts Financial Services Co. MA increased its holdings in shares of Vistra Corp. (NYSE:VST) by 51.1% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 3,826,631 shares of the company’s stock after purchasing an additional 1,293,974 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Vistra were worth $453,609,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Redwood Wealth Management Group LLC purchased a new position in shares of Vistra in the 2nd quarter valued at approximately $26,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Vistra during the third quarter worth $30,000. New Covenant Trust Company N.A. purchased a new stake in shares of Vistra during the first quarter valued at $32,000. CVA Family Office LLC increased its position in shares of Vistra by 1,505.9% in the 3rd quarter. CVA Family Office LLC now owns 273 shares of the company’s stock valued at $32,000 after acquiring an additional 256 shares during the period. Finally, EdgeRock Capital LLC purchased a new position in Vistra in the 2nd quarter worth $34,000. 90.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have weighed in on VST shares. Guggenheim boosted their price target on Vistra from $133.00 to $177.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. BNP Paribas started coverage on shares of Vistra in a report on Monday, October 14th. They issued an “outperform” rating and a $231.00 price target on the stock. Morgan Stanley raised their price target on shares of 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. initiated coverage on shares of Vistra in a research note on Thursday, October 17th. They issued an “overweight” rating and a $178.00 price objective on the stock. Finally, Royal Bank of Canada boosted their target price 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, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $145.40.

Vistra Stock Up 7.0 %

Shares of NYSE:VST opened at $165.53 on Friday. Vistra Corp. has a 52-week low of $34.25 and a 52-week high of $167.60. The company has a quick ratio of 0.99, a current ratio of 1.11 and a debt-to-equity ratio of 4.68. The business has a fifty day moving average of $125.72 and a two-hundred day moving average of $99.36. The stock has a market cap of $56.32 billion, a P/E ratio of 30.88, a PEG ratio of 1.99 and a beta of 1.09.

Vistra Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 20th will be paid a dividend of $0.221 per share. The ex-dividend date is Friday, December 20th. This is an increase from Vistra’s previous quarterly dividend of $0.22. This represents a $0.88 dividend on an annualized basis and a yield of 0.53%. Vistra’s payout ratio is 16.42%.

Vistra declared that its board has approved a share repurchase plan on Thursday, November 7th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 2.1% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its stock is undervalued.

Vistra 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.