Avala Global LP Acquires Shares of 326,100 Vistra Corp. (NYSE:VST)

Avala Global LP purchased a new position in Vistra Corp. (NYSE:VST - Free Report) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 326,100 shares of the company's stock, valued at approximately $38,656,000. Vistra comprises approximately 2.5% of Avala Global LP's portfolio, making the stock its 18th largest position. Avala Global LP owned 0.10% of Vistra as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. Empire Life Investments Inc. acquired a new position in Vistra during the third quarter worth $23,028,000. Terra Nova Asset Management LLC purchased a new stake in Vistra in the third quarter valued at $842,000. Czech National Bank raised its holdings in shares of Vistra by 12.4% in the 3rd quarter. Czech National Bank now owns 69,987 shares of the company's stock valued at $8,296,000 after buying an additional 7,747 shares during the period. CIBC Asset Management Inc raised its holdings in shares of Vistra by 12.4% in the 3rd quarter. CIBC Asset Management Inc now owns 50,380 shares of the company's stock valued at $5,972,000 after buying an additional 5,575 shares during the period. Finally, Viking Fund Management LLC purchased a new stake in shares of Vistra in the 3rd quarter valued at $1,185,000. 90.88% of the stock is owned by institutional investors and hedge funds.

Vistra Stock Down 3.6 %

Shares of NYSE:VST traded down $5.73 on Monday, hitting $154.11. 4,176,601 shares of the company's stock were exchanged, compared to its average volume of 6,849,750. The firm's 50-day moving average is $133.51 and its 200 day moving average is $102.37. The company has a market capitalization of $52.43 billion, a PE ratio of 29.19, a P/E/G ratio of 2.05 and a beta of 1.09. Vistra Corp. has a 1-year low of $35.99 and a 1-year high of $168.67. The company has a debt-to-equity ratio of 4.68, a quick ratio of 0.99 and a current ratio of 1.11.

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 dividend of $0.221 per share. This is a boost from Vistra's previous quarterly dividend of $0.22. This represents a $0.88 annualized dividend and a dividend yield of 0.57%. The ex-dividend date is Friday, December 20th. Vistra's dividend payout ratio is currently 16.42%.

Vistra announced that its board has approved a stock buyback plan on Thursday, November 7th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to purchase up to 2.1% of its shares through open market purchases. Shares buyback plans are often an indication that the company's leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

VST has been the topic of several research analyst reports. Guggenheim boosted their price objective on Vistra from $133.00 to $177.00 and gave the company a "buy" rating in a report on Tuesday, October 8th. JPMorgan Chase & Co. initiated coverage on Vistra in a report on Thursday, October 17th. They issued an "overweight" rating and a $178.00 price objective on the stock. BMO Capital Markets boosted their price objective on Vistra from $146.00 to $147.00 and gave the company an "outperform" rating in a report on Tuesday, October 29th. UBS Group cut their price objective on Vistra from $157.00 to $150.00 and set a "buy" rating on the stock in a report on Tuesday, October 22nd. Finally, Royal Bank of Canada boosted their target price on Vistra from $105.00 to $141.00 and gave the stock an "outperform" rating in a research note on Thursday, October 3rd. Ten equities research analysts have rated the stock with a buy rating, According to MarketBeat, Vistra presently has an average rating of "Buy" and a consensus price target of $149.10.

Insider Transactions at Vistra

In related news, EVP Stephen J. Muscato sold 207,100 shares of the company's stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $161.34, for a total value of $33,413,514.00. Following the completion of the sale, the executive vice president now directly owns 318,287 shares of the company's stock, valued at $51,352,424.58. This represents a 39.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Scott A. Hudson sold 115,000 shares of the company's stock in a transaction dated 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 sale, the executive vice president now directly owns 254,932 shares of the company's stock, valued at approximately $41,849,637.12. This trade represents a 31.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.42% of the company's stock.

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.