Cornercap Investment Counsel Inc. Sells 7,419 Shares of Vistra Corp. (NYSE:VST)

Cornercap Investment Counsel Inc. lowered its position in shares of Vistra Corp. (NYSE:VST) by 31.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,883 shares of the company’s stock after selling 7,419 shares during the period. Vistra accounts for approximately 0.6% of Cornercap Investment Counsel Inc.’s investment portfolio, making the stock its 15th biggest holding. Cornercap Investment Counsel Inc.’s holdings in Vistra were worth $1,883,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Vistra in the 3rd quarter valued at $30,000. CVA Family Office LLC lifted its stake in shares of Vistra by 1,505.9% in the 3rd quarter. CVA Family Office LLC now owns 273 shares of the company’s stock valued at $32,000 after acquiring an additional 256 shares during the last quarter. Redwood Wealth Management Group LLC bought a new position in shares of Vistra in the 2nd quarter valued at $26,000. ORG Wealth Partners LLC bought a new position in shares of Vistra in the 3rd quarter valued at $40,000. Finally, Fortitude Family Office LLC lifted its stake in shares of Vistra by 125.0% in the 3rd quarter. Fortitude Family Office LLC now owns 360 shares of the company’s stock valued at $43,000 after acquiring an additional 200 shares during the last quarter. Institutional investors own 90.88% of the company’s stock.

Vistra Stock Performance

VST stock opened at $138.51 on Friday. The company has a current ratio of 1.11, a quick ratio of 0.88 and a debt-to-equity ratio of 4.68. The stock has a 50-day moving average price of $118.14 and a 200-day moving average price of $96.78. The firm has a market cap of $47.13 billion, a PE ratio of 25.84 and a beta of 1.09. Vistra Corp. has a 1-year low of $34.25 and a 1-year high of $149.80.

Vistra Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 20th will be paid a $0.221 dividend. The ex-dividend date is Friday, December 20th. This is an increase from Vistra’s previous quarterly dividend of $0.22. This represents a $0.88 annualized dividend and a dividend yield of 0.64%. Vistra’s dividend payout ratio (DPR) is currently 16.42%.

Vistra announced that its Board of Directors has approved a stock buyback plan on Thursday, November 7th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to repurchase up to 2.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

VST has been the subject of a number of research reports. UBS Group dropped their price target on Vistra from $157.00 to $150.00 and set a “buy” rating for the company in a research note on Tuesday, October 22nd. Guggenheim raised their target price on Vistra from $133.00 to $177.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Morgan Stanley raised their target price on Vistra from $110.00 to $132.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. Royal Bank of Canada raised their target price on Vistra from $105.00 to $141.00 and gave the stock an “outperform” rating in a research report on Thursday, October 3rd. Finally, BNP Paribas started coverage on Vistra in a research report on Monday, October 14th. They set an “outperform” rating and a $231.00 target price for the company. Ten research analysts have rated the stock with a buy rating, According to MarketBeat, Vistra presently has an average rating of “Buy” and a consensus price target of $145.40.

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.