TCW Group Inc. Cuts Holdings in Vistra Corp. (NYSE:VST)

TCW Group Inc. reduced its position in shares of Vistra Corp. (NYSE:VST - Free Report) by 30.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 71,041 shares of the company's stock after selling 30,607 shares during the period. TCW Group Inc.'s holdings in Vistra were worth $8,421,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in VST. Redwood Wealth Management Group LLC purchased a new stake in shares of Vistra during the 2nd quarter worth $26,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Vistra in the third quarter valued at about $30,000. Mark Sheptoff Financial Planning LLC purchased a new stake in Vistra during the third quarter worth about $30,000. CVA Family Office LLC grew its position in Vistra by 1,505.9% during the third quarter. CVA Family Office LLC now owns 273 shares of the company's stock worth $32,000 after buying an additional 256 shares during the period. Finally, EdgeRock Capital LLC acquired a new position in Vistra during the second quarter worth about $34,000. Institutional investors and hedge funds own 90.88% of the company's stock.

Vistra Price Performance

Shares of VST traded down $0.87 during trading hours on Thursday, reaching $145.13. 3,688,227 shares of the company traded hands, compared to its average volume of 6,793,871. The stock has a market capitalization of $49.38 billion, a PE ratio of 27.08, a price-to-earnings-growth ratio of 2.05 and a beta of 1.16. The stock has a fifty day simple moving average of $139.47 and a 200 day simple moving average of $105.85. Vistra Corp. has a fifty-two week low of $37.31 and a fifty-two week high of $168.67. The company has a quick ratio of 0.99, a current ratio of 1.11 and a debt-to-equity ratio of 4.68.

Vistra declared that its Board of Directors has authorized a stock buyback program on Thursday, November 7th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 2.1% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its stock is undervalued.

Vistra Increases Dividend

The company also recently declared 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 is a boost from Vistra's previous quarterly dividend of $0.22. This represents a $0.88 annualized dividend and a dividend yield of 0.61%. The ex-dividend date is Friday, December 20th. Vistra's dividend payout ratio (DPR) is currently 16.42%.

Insider Transactions at Vistra

In related news, Director Scott B. Helm sold 20,000 shares of the stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $139.77, for a total transaction of $2,795,400.00. Following the transaction, the director now directly owns 343,350 shares in the company, valued at approximately $47,990,029.50. This represents a 5.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Scott A. Hudson sold 115,000 shares of the firm's stock in a transaction dated Monday, November 25th. The stock was 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 directly owns 254,932 shares in the company, valued at approximately $41,849,637.12. The trade was a 31.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 342,100 shares of company stock worth $55,087,314 over the last ninety days. 1.42% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently issued reports on VST. Jefferies Financial Group lifted their price target on shares of Vistra from $99.00 to $137.00 and gave the company a "buy" rating in a research report on Tuesday, September 24th. UBS Group reduced their price objective on Vistra from $157.00 to $150.00 and set a "buy" rating for the company in a report on Tuesday, October 22nd. Royal Bank of Canada upped their target price on Vistra from $105.00 to $141.00 and gave the company an "outperform" rating in a report on Thursday, October 3rd. Morgan Stanley lifted their price target on Vistra from $135.00 to $169.00 and gave the stock an "overweight" rating in a research note on Friday, November 22nd. Finally, JPMorgan Chase & Co. assumed coverage on shares of Vistra in a research report on Thursday, October 17th. They issued an "overweight" rating and a $178.00 price objective on the stock. Ten research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target 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.