Vistra Corp. (NYSE:VST) Stake Trimmed by M&T Bank Corp

M&T Bank Corp lessened its stake in shares of Vistra Corp. (NYSE:VST) by 16.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 33,764 shares of the company’s stock after selling 6,621 shares during the period. M&T Bank Corp’s holdings in Vistra were worth $4,003,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Mark Sheptoff Financial Planning LLC acquired a new stake in shares of Vistra during the third quarter valued at approximately $30,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Vistra in the third quarter valued at $30,000. CVA Family Office LLC lifted its holdings in shares of Vistra by 1,505.9% in the third quarter. CVA Family Office LLC now owns 273 shares of the company’s stock valued at $32,000 after purchasing an additional 256 shares in the last quarter. RPg Family Wealth Advisory LLC acquired a new stake in shares of Vistra in the third quarter worth $36,000. Finally, Redwood Wealth Management Group LLC purchased a new position in shares of Vistra during the second quarter valued at $26,000. 90.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on VST shares. JPMorgan Chase & Co. assumed coverage on Vistra in a research note on Thursday, October 17th. They issued an “overweight” rating and a $178.00 price objective for the company. Royal Bank of Canada increased their price target on shares of Vistra from $105.00 to $141.00 and gave the stock an “outperform” rating in a research report on Thursday, October 3rd. BNP Paribas began coverage on shares of Vistra in a research report on Monday, October 14th. They set an “outperform” rating and a $231.00 price objective on the stock. Morgan Stanley upped their price objective on shares of Vistra from $135.00 to $169.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Finally, Guggenheim lifted their target price on shares of Vistra from $133.00 to $177.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Ten investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Vistra currently has a consensus rating of “Buy” and a consensus target price of $149.10.

Vistra Trading Down 0.6 %

Shares of NYSE:VST opened at $145.13 on Friday. The company has a current ratio of 1.11, a quick ratio of 0.99 and a debt-to-equity ratio of 4.68. The stock has a market capitalization of $49.38 billion, a PE ratio of 27.08, a P/E/G ratio of 1.87 and a beta of 1.16. Vistra Corp. has a 1 year low of $37.31 and a 1 year high of $168.67. The firm has a fifty day moving average price of $139.47 and a 200 day moving average price of $105.85.

Vistra Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 20th will be issued a dividend of $0.221 per share. This is a positive change from Vistra’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.61%. Vistra’s dividend payout ratio is currently 16.42%.

Vistra announced that its Board of Directors has authorized a stock repurchase plan on Thursday, November 7th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to reacquire up to 2.1% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at Vistra

In related news, EVP Stephen J. Muscato sold 207,100 shares of Vistra stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $161.34, for a total value of $33,413,514.00. Following the transaction, the executive vice president now owns 318,287 shares in the company, valued at $51,352,424.58. This trade represents a 39.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Scott B. Helm sold 20,000 shares of the business’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $139.77, for a total transaction of $2,795,400.00. Following the transaction, the director now directly owns 343,350 shares of the company’s stock, valued at approximately $47,990,029.50. This represents a 5.50 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 342,100 shares of company stock valued at $55,087,314. Corporate insiders own 1.42% of the company’s stock.

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.