Redwood Investment Management LLC Lowers Holdings in Vistra Corp. (NYSE:VST)

Redwood Investment Management LLC decreased its stake in shares of Vistra Corp. (NYSE:VST - Free Report) by 33.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 64,877 shares of the company's stock after selling 33,189 shares during the period. Vistra comprises about 0.7% of Redwood Investment Management LLC's holdings, making the stock its 17th largest position. Redwood Investment Management LLC's holdings in Vistra were worth $7,641,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Massachusetts Financial Services Co. MA raised its stake in shares of Vistra by 115.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,532,657 shares of the company's stock valued at $217,758,000 after buying an additional 1,356,488 shares during the period. Thrivent Financial for Lutherans raised its stake in shares of Vistra by 1,358.2% in the second quarter. Thrivent Financial for Lutherans now owns 1,228,144 shares of the company's stock valued at $105,596,000 after buying an additional 1,143,918 shares during the period. Janus Henderson Group PLC raised its stake in shares of Vistra by 36.0% in the third quarter. Janus Henderson Group PLC now owns 3,781,908 shares of the company's stock valued at $448,320,000 after buying an additional 1,000,307 shares during the period. Marshall Wace LLP raised its stake in shares of Vistra by 315.9% during the 2nd quarter. Marshall Wace LLP now owns 1,175,811 shares of the company's stock valued at $101,096,000 after purchasing an additional 893,093 shares during the period. Finally, Point72 Asset Management L.P. raised its stake in shares of Vistra by 121.1% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,536,192 shares of the company's stock valued at $132,082,000 after purchasing an additional 841,292 shares during the period. Hedge funds and other institutional investors own 90.88% of the company's stock.

Vistra Trading Down 0.3 %

Vistra stock traded down $0.43 during trading hours on Thursday, reaching $160.88. The company had a trading volume of 3,548,838 shares, compared to its average volume of 6,823,205. The company has a debt-to-equity ratio of 4.68, a current ratio of 1.11 and a quick ratio of 0.99. The company has a 50-day moving average price of $136.98 and a 200 day moving average price of $104.02. The firm has a market cap of $54.74 billion, a price-to-earnings ratio of 30.01, a P/E/G ratio of 1.98 and a beta of 1.16. Vistra Corp. has a 12-month low of $36.17 and a 12-month high of $168.67.

Vistra announced that its board has authorized a stock buyback plan on Thursday, November 7th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 2.1% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's leadership believes its stock is undervalued.

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 $0.221 dividend. This is a positive change from Vistra's previous quarterly dividend of $0.22. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend is Friday, December 20th. Vistra's dividend payout ratio (DPR) is currently 16.42%.

Insider Transactions at Vistra

In related news, EVP Stephen J. Muscato sold 207,100 shares of Vistra stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $161.34, for a total transaction of $33,413,514.00. Following the sale, the executive vice president now directly owns 318,287 shares in the company, valued at $51,352,424.58. The trade was a 39.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Scott A. Hudson sold 115,000 shares of Vistra 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 sale, the executive vice president now owns 254,932 shares in the company, valued at $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. Corporate insiders own 1.42% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on VST shares. Guggenheim boosted their price objective on Vistra from $133.00 to $177.00 and gave the company a "buy" rating in a research note on Tuesday, October 8th. BMO Capital Markets boosted their price objective on Vistra from $146.00 to $147.00 and gave the company an "outperform" rating in a research note on Tuesday, October 29th. Royal Bank of Canada upped 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. Morgan Stanley raised their price target on Vistra from $135.00 to $169.00 and gave the company an "overweight" rating in a report on Friday, November 22nd. Finally, BNP Paribas began coverage on Vistra in a report on Monday, October 14th. They issued an "outperform" rating and a $231.00 price target on the stock. Ten analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $149.10.

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.