Polymer Capital Management HK LTD Makes New $3.20 Million Investment in Vistra Corp. (NYSE:VST)

Polymer Capital Management HK LTD purchased a new position in shares of Vistra Corp. (NYSE:VST - Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 27,032 shares of the company's stock, valued at approximately $3,204,000.

Several other large investors have also recently added to or reduced their stakes in VST. Forum Financial Management LP increased its position in shares of Vistra by 0.7% during the third quarter. Forum Financial Management LP now owns 11,527 shares of the company's stock worth $1,366,000 after acquiring an additional 80 shares during the last quarter. Umpqua Bank grew its stake in Vistra by 2.2% during the 3rd quarter. Umpqua Bank now owns 3,780 shares of the company's stock valued at $448,000 after purchasing an additional 81 shares in the last quarter. OneDigital Investment Advisors LLC increased its holdings in Vistra by 3.0% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 2,809 shares of the company's stock worth $333,000 after purchasing an additional 81 shares during the last quarter. Douglass Winthrop Advisors LLC raised its position in shares of Vistra by 0.9% in the 3rd quarter. Douglass Winthrop Advisors LLC now owns 11,335 shares of the company's stock valued at $1,344,000 after purchasing an additional 100 shares in the last quarter. Finally, Interchange Capital Partners LLC boosted its stake in shares of Vistra by 4.2% during the 3rd quarter. Interchange Capital Partners LLC now owns 2,710 shares of the company's stock valued at $321,000 after buying an additional 109 shares during the last quarter. 90.88% of the stock is currently owned by institutional investors and hedge funds.

Vistra Stock Performance

NYSE VST traded up $7.15 during trading hours on Wednesday, hitting $161.31. The company had a trading volume of 5,260,684 shares, compared to its average volume of 6,837,155. Vistra Corp. has a fifty-two week low of $36.17 and a fifty-two week high of $168.67. The firm has a market cap of $54.88 billion, a P/E ratio of 29.93, a price-to-earnings-growth ratio of 1.98 and a beta of 1.16. 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 business has a fifty day simple moving average of $135.20 and a 200-day simple moving average of $103.22.

Vistra Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 20th will be paid a dividend of $0.221 per share. This represents a $0.88 dividend on an annualized basis and a yield of 0.55%. This is a positive change from Vistra's previous quarterly dividend of $0.22. The ex-dividend date is Friday, December 20th. Vistra's payout ratio is presently 16.42%.

Vistra announced that its Board of Directors has approved a stock buyback program on Thursday, November 7th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 2.1% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board of directors believes its shares are undervalued.

Analyst Ratings Changes

Several research firms recently issued reports on VST. UBS Group cut their price target on shares of Vistra from $157.00 to $150.00 and set a "buy" rating on the stock in a report on Tuesday, October 22nd. 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. Jefferies Financial Group boosted their price objective on Vistra from $99.00 to $137.00 and gave the company a "buy" rating in a report on Tuesday, September 24th. Guggenheim increased their target price on Vistra from $133.00 to $177.00 and gave the stock a "buy" rating in a report on Tuesday, October 8th. Finally, BMO Capital Markets boosted their price target on Vistra from $146.00 to $147.00 and gave the company an "outperform" rating in a report on Tuesday, October 29th. Ten investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $149.10.

Insiders Place Their Bets

In related news, EVP Stephen J. Muscato sold 207,100 shares of the stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 318,287 shares in the company, valued at $51,352,424.58. This represents a 39.42 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Scott A. Hudson sold 115,000 shares of the business's 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 sale, the executive vice president now owns 254,932 shares in the company, valued at $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. 1.42% of the stock is owned by insiders.

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.