Cinctive Capital Management LP Cuts Stock Holdings in Vistra Corp. (NYSE:VST)

Cinctive Capital Management LP cut its holdings in shares of Vistra Corp. (NYSE:VST - Free Report) by 20.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 377,570 shares of the company's stock after selling 99,391 shares during the quarter. Vistra makes up 2.4% of Cinctive Capital Management LP's investment portfolio, making the stock its largest holding. Cinctive Capital Management LP owned 0.11% of Vistra worth $44,757,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Redwood Wealth Management Group LLC bought a new position in Vistra in the 2nd quarter worth approximately $26,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Vistra in the third quarter valued at approximately $30,000. Mark Sheptoff Financial Planning LLC purchased a new position in Vistra during the third quarter valued at approximately $30,000. CVA Family Office LLC increased 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 worth $32,000 after purchasing an additional 256 shares during the period. Finally, EdgeRock Capital LLC bought a new position in Vistra in the 2nd quarter worth about $34,000. 90.88% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Vistra

In other news, EVP Stephen J. Muscato sold 207,100 shares of the 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 sale, the executive vice president now owns 318,287 shares of the company's stock, valued at approximately $51,352,424.58. This represents a 39.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Scott A. Hudson sold 115,000 shares of Vistra stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $164.16, for a total transaction of $18,878,400.00. Following the transaction, the executive vice president now directly owns 254,932 shares of the company's stock, valued at approximately $41,849,637.12. This 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.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on VST. Guggenheim boosted their target price on Vistra from $133.00 to $177.00 and gave the stock a "buy" rating in a research report on Tuesday, October 8th. Morgan Stanley boosted their target price on Vistra from $135.00 to $169.00 and gave the company an "overweight" rating in a research note on Friday, November 22nd. JPMorgan Chase & Co. assumed coverage on Vistra in a research report on Thursday, October 17th. They set an "overweight" rating and a $178.00 price target on the stock. BNP Paribas began 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. Finally, UBS Group reduced their target price on Vistra from $157.00 to $150.00 and set a "buy" rating on the stock in a research note on Tuesday, October 22nd. Ten investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $149.10.

Vistra Stock Performance

Shares of VST stock traded down $5.68 on Monday, reaching $154.16. The stock had a trading volume of 4,838,515 shares, compared to its average volume of 6,853,751. The company has a 50 day simple moving average of $133.51 and a 200 day simple moving average of $102.37. The stock has a market cap of $52.45 billion, a P/E ratio of 29.19, a price-to-earnings-growth 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 announced that its Board of Directors has initiated a stock buyback program on Thursday, November 7th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to reacquire up to 2.1% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board of directors believes its shares are undervalued.

Vistra Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 20th will be issued a $0.221 dividend. The ex-dividend date is Friday, December 20th. This is a boost from Vistra's previous quarterly dividend of $0.22. This represents a $0.88 dividend on an annualized basis and a yield of 0.57%. Vistra's payout ratio is currently 16.42%.

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.