Virtu Financial LLC Takes Position in Vistra Corp. (NYSE:VST)

Virtu Financial LLC acquired a new stake in shares of Vistra Corp. (NYSE:VST) in the 3rd quarter, Holdings Channel.com reports. The institutional investor acquired 12,369 shares of the company’s stock, valued at approximately $1,466,000.

Several other hedge funds have also recently made changes to their positions in the stock. Mark Sheptoff Financial Planning LLC bought a new stake in Vistra in the 3rd quarter worth approximately $30,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Vistra in the 3rd quarter worth $30,000. CVA Family Office LLC grew its holdings in shares of Vistra by 1,505.9% in the third 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 period. RPg Family Wealth Advisory LLC purchased a new stake in Vistra during the third quarter valued at $36,000. Finally, Redwood Wealth Management Group LLC purchased a new stake in Vistra during the second quarter valued at $26,000. 90.88% of the stock is owned by hedge funds and other institutional investors.

Vistra Stock Down 0.6 %

Shares of VST stock opened at $145.13 on Friday. The company has a market capitalization of $49.38 billion, a price-to-earnings ratio of 27.08, a PEG ratio of 1.87 and a beta of 1.16. 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’s fifty day moving average price is $139.47 and its 200-day moving average price is $105.85. Vistra Corp. has a one year low of $37.31 and a one year high of $168.67.

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 represents a $0.88 annualized dividend and a dividend yield of 0.61%. This is an increase from Vistra’s previous quarterly dividend of $0.22. The ex-dividend date is Friday, December 20th. Vistra’s payout ratio is presently 16.42%.

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

Insider Transactions at Vistra

In other Vistra 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 value of $18,878,400.00. Following the completion of the transaction, the executive vice president now directly owns 254,932 shares in the company, valued at $41,849,637.12. This represents a 31.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Stephen J. Muscato sold 207,100 shares of Vistra stock in a transaction that occurred on 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 sale, the executive vice president now owns 318,287 shares in the company, valued at approximately $51,352,424.58. The trade was a 39.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 342,100 shares of company stock valued at $55,087,314 over the last 90 days. Company insiders own 1.42% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on VST. JPMorgan Chase & Co. assumed coverage on Vistra in a research note on Thursday, October 17th. They set an “overweight” rating and a $178.00 price target for the company. Jefferies Financial Group boosted their target price 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. BNP Paribas started coverage on shares of Vistra in a research report on Monday, October 14th. They issued an “outperform” rating and a $231.00 price target on the stock. UBS Group cut their price objective 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. Finally, Morgan Stanley upped their price objective on Vistra from $135.00 to $169.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Ten analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus 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.