Alkeon Capital Management LLC Lowers Stock Holdings in Vistra Corp. (NYSE:VST)

Alkeon Capital Management LLC lowered its position in Vistra Corp. (NYSE:VST - Free Report) by 49.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,221,890 shares of the company's stock after selling 2,193,110 shares during the period. Alkeon Capital Management LLC owned about 0.65% of Vistra worth $263,383,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Redwood Wealth Management Group LLC purchased a new stake in shares of Vistra in the second quarter valued at approximately $26,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Vistra in the 3rd quarter valued at $30,000. CVA Family Office LLC increased its holdings 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 in the last quarter. EdgeRock Capital LLC acquired a new position in Vistra during the second quarter worth $34,000. Finally, RPg Family Wealth Advisory LLC purchased a new position in Vistra during the third quarter valued at $36,000. 90.88% of the stock is owned by hedge funds and other institutional investors.

Vistra Trading Up 3.4 %

Shares of NYSE VST traded up $5.32 during trading on Friday, hitting $159.84. 2,474,091 shares of the company were exchanged, compared to its average volume of 6,865,085. The company has a fifty day moving average price of $132.47 and a 200-day moving average price of $101.77. The company has a debt-to-equity ratio of 4.68, a quick ratio of 0.99 and a current ratio of 1.11. The firm has a market capitalization of $54.38 billion, a PE ratio of 29.82, a P/E/G ratio of 1.98 and a beta of 1.09. Vistra Corp. has a 12-month low of $34.89 and a 12-month high of $168.67.

Vistra announced that its Board of Directors has initiated a share repurchase plan on Thursday, November 7th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 2.1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

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. The ex-dividend date of this dividend 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 yield of 0.55%. Vistra's payout ratio is 16.42%.

Insider Buying and Selling at Vistra

In other Vistra 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 transaction of $33,413,514.00. Following the completion of the transaction, the executive vice president now owns 318,287 shares of the company's stock, valued at $51,352,424.58. This trade represents a 39.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Scott A. Hudson sold 115,000 shares of Vistra stock in a transaction dated Monday, November 25th. The shares were 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 of the company's stock, valued at approximately $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. 1.42% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on VST. JPMorgan Chase & Co. started coverage on shares of Vistra in a research note on Thursday, October 17th. They set an "overweight" rating and a $178.00 target price for the company. Jefferies Financial Group boosted their price objective on Vistra from $99.00 to $137.00 and gave the stock a "buy" rating in a research note on Tuesday, September 24th. Morgan Stanley raised their target price on Vistra from $135.00 to $169.00 and gave the company an "overweight" rating in a research report on Friday, November 22nd. BMO Capital Markets increased 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. Finally, Royal Bank of Canada raised their price objective on Vistra from $105.00 to $141.00 and gave the company an "outperform" rating in a report on Thursday, October 3rd. Ten investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Vistra currently has an average rating of "Buy" and a consensus price target of $149.10.

Vistra Company Profile

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.