Morse Asset Management Inc Buys New Position in Vistra Corp. (NYSE:VST)

Morse Asset Management Inc acquired a new position in shares of Vistra Corp. (NYSE:VST - Free Report) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 5,325 shares of the company's stock, valued at approximately $631,000.

Other hedge funds have also recently bought and sold shares of the company. Redwood Wealth Management Group LLC bought a new stake in shares of Vistra during the 2nd quarter worth $26,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Vistra during the 3rd quarter worth $30,000. Mark Sheptoff Financial Planning LLC bought a new stake in shares of Vistra during the 3rd quarter worth $30,000. CVA Family Office LLC raised its stake in shares of Vistra by 1,505.9% during the 3rd 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 stake in shares of Vistra during the 2nd quarter worth $34,000. 90.88% of the stock is owned by hedge funds and other institutional investors.

Vistra Price Performance

Shares of NYSE VST traded up $7.10 during midday trading on Wednesday, hitting $161.26. 4,645,682 shares of the company's stock were exchanged, compared to its average volume of 6,832,737. Vistra Corp. has a 12-month low of $36.17 and a 12-month high of $168.67. 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 company has a market cap of $54.86 billion, a price-to-earnings ratio of 29.93, a PEG ratio of 1.98 and a beta of 1.16. The business's fifty day moving average price is $135.20 and its two-hundred day moving average price is $103.22.

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 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 annualized dividend and a dividend yield of 0.55%. Vistra's payout ratio is presently 16.42%.

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

Analyst Ratings Changes

A number of research firms have recently commented on VST. BMO Capital Markets lifted their target price on Vistra from $146.00 to $147.00 and gave the stock an "outperform" rating in a research note on Tuesday, October 29th. UBS Group lowered their price objective on Vistra from $157.00 to $150.00 and set a "buy" rating on the stock in a research note on Tuesday, October 22nd. BNP Paribas assumed coverage on Vistra in a research note on Monday, October 14th. They issued an "outperform" rating and a $231.00 price objective on the stock. Jefferies Financial Group boosted their price objective on Vistra from $99.00 to $137.00 and gave the company a "buy" rating in a research note on Tuesday, September 24th. Finally, Royal Bank of Canada boosted their price objective on Vistra from $105.00 to $141.00 and gave the company an "outperform" rating in a research note on Thursday, October 3rd. Ten analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $149.10.

Insider Transactions at Vistra

In other Vistra news, EVP Stephen J. Muscato sold 207,100 shares of the company's stock in a transaction that occurred on 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 owns 318,287 shares of the company's stock, valued at $51,352,424.58. This represents a 39.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Scott A. Hudson sold 115,000 shares of the business'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 sale, the executive vice president now owns 254,932 shares of the company's stock, valued at $41,849,637.12. The trade was a 31.09 % decrease in their position. The disclosure for this sale can be found here. 1.42% of the stock is owned by insiders.

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.