Verition Fund Management LLC Boosts Stake in Vistra Corp. (NYSE:VST)

Verition Fund Management LLC raised its stake in shares of Vistra Corp. (NYSE:VST - Free Report) by 16.6% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 202,166 shares of the company's stock after buying an additional 28,761 shares during the quarter. Verition Fund Management LLC owned about 0.06% of Vistra worth $23,965,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Vistra in the third quarter worth $30,000. CVA Family Office LLC increased its stake in Vistra by 1,505.9% in the 3rd quarter. CVA Family Office LLC now owns 273 shares of the company's stock worth $32,000 after acquiring an additional 256 shares during the last quarter. RPg Family Wealth Advisory LLC purchased a new stake in shares of Vistra in the 3rd quarter valued at about $36,000. Redwood Wealth Management Group LLC bought a new stake in shares of Vistra during the 2nd quarter valued at about $26,000. Finally, ORG Wealth Partners LLC purchased a new position in shares of Vistra during the third quarter worth about $40,000. 90.88% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on VST. Guggenheim raised their target price on shares of 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 raised their price objective on shares of Vistra from $146.00 to $147.00 and gave the company an "outperform" rating in a research report on Tuesday, October 29th. UBS Group cut their target price on shares of Vistra from $157.00 to $150.00 and set a "buy" rating for the company in a research report on Tuesday, October 22nd. BNP Paribas began coverage on Vistra in a research report on Monday, October 14th. They set an "outperform" rating and a $231.00 price target on the stock. Finally, Morgan Stanley upped their price objective on Vistra from $135.00 to $169.00 and gave the stock an "overweight" rating in a report on Friday, November 22nd. Ten analysts have rated the stock with a buy rating, Based on data from MarketBeat, Vistra currently has an average rating of "Buy" and a consensus price target of $149.10.

Vistra Trading Up 3.4 %

Shares of NYSE VST traded up $5.32 during midday trading on Friday, reaching $159.84. The company had a trading volume of 2,475,784 shares, compared to its average volume of 6,865,085. The stock has a market cap of $54.38 billion, a PE ratio of 29.70, a price-to-earnings-growth ratio of 1.98 and a beta of 1.09. Vistra Corp. has a one year low of $34.89 and a one year high of $168.67. The firm's fifty day moving average price is $132.47 and its 200-day moving average price is $101.77. 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 Increases Dividend

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

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 reacquire up to 2.1% of its shares through open market purchases. Shares buyback plans are often a sign that the company's management believes its stock is undervalued.

Insider Activity

In related news, EVP Scott A. Hudson sold 115,000 shares of the company's stock in a transaction that occurred on 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 completion of the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Stephen J. Muscato sold 207,100 shares of the firm's stock in a transaction 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 directly owns 318,287 shares of the company's stock, valued at $51,352,424.58. The trade was a 39.42 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.42% of the company's stock.

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.