Payden & Rygel lessened its position in shares of Vistra Corp. (NYSE:VST - Free Report) by 98.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,100 shares of the company's stock after selling 69,000 shares during the quarter. Payden & Rygel's holdings in Vistra were worth $130,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in the company. Empire Life Investments Inc. purchased a new position in shares of Vistra in the third quarter valued at $23,028,000. Terra Nova Asset Management LLC bought a new stake in shares of Vistra in the 3rd quarter worth about $842,000. Czech National Bank lifted 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 acquiring an additional 7,747 shares during the last quarter. CIBC Asset Management Inc grew its position in Vistra by 12.4% in the third quarter. CIBC Asset Management Inc now owns 50,380 shares of the company's stock worth $5,972,000 after acquiring an additional 5,575 shares in the last quarter. Finally, Viking Fund Management LLC purchased a new position in Vistra in the third quarter worth about $1,185,000. Institutional investors own 90.88% of the company's stock.
Vistra Stock Performance
Shares of VST stock opened at $154.61 on Thursday. The firm has a market cap of $52.60 billion, a price-to-earnings ratio of 28.85, a PEG ratio of 1.99 and a beta of 1.09. Vistra Corp. has a 52-week low of $34.25 and a 52-week high of $157.72. 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 company's 50 day moving average is $124.02 and its 200 day moving average is $98.90.
Vistra announced that its Board of Directors has authorized a share repurchase plan on Thursday, November 7th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 2.1% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's board of directors believes its shares are undervalued.
Vistra Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 20th will be issued a $0.221 dividend. 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 dividend yield of 0.57%. Vistra's dividend payout ratio (DPR) is currently 16.42%.
Wall Street Analyst Weigh In
VST has been the subject of a number of recent research reports. Jefferies Financial Group lifted their target price on Vistra from $99.00 to $137.00 and gave the stock a "buy" rating in a report on Tuesday, September 24th. Royal Bank of Canada boosted their price objective 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. JPMorgan Chase & Co. assumed coverage on shares of Vistra in a research note on Thursday, October 17th. They issued an "overweight" rating and a $178.00 price objective for the company. UBS Group decreased their target price on Vistra from $157.00 to $150.00 and set a "buy" rating for the company in a research report on Tuesday, October 22nd. Finally, Morgan Stanley raised their target price 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. Ten analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $145.40.
Check Out Our Latest Stock Report on Vistra
About Vistra
(
Free Report)
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.
See Also
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