Central Asset Investments & Management Holdings HK Ltd Sells 4,900 Shares of Vistra Corp. (NYSE:VST)

Central Asset Investments & Management Holdings HK Ltd reduced its holdings in shares of Vistra Corp. (NYSE:VST) by 71.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,000 shares of the company’s stock after selling 4,900 shares during the quarter. Central Asset Investments & Management Holdings HK Ltd’s holdings in Vistra were worth $237,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Redwood Wealth Management Group LLC purchased a new stake in Vistra in the second quarter worth about $26,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Vistra during the third quarter valued at approximately $30,000. New Covenant Trust Company N.A. purchased a new position in Vistra during the first quarter valued at approximately $32,000. CVA Family Office LLC boosted its position 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 purchasing an additional 256 shares during the period. Finally, EdgeRock Capital LLC purchased a new stake in shares of Vistra in the second quarter worth $34,000. Institutional investors own 90.88% of the company’s stock.

Vistra Trading Up 2.7 %

Shares of VST stock opened at $142.23 on Friday. The company has a market cap of $48.39 billion, a PE ratio of 26.54 and a beta of 1.09. The company has a debt-to-equity ratio of 4.68, a current ratio of 1.11 and a quick ratio of 0.88. The stock’s 50 day simple moving average is $119.52 and its two-hundred day simple moving average is $97.23. Vistra Corp. has a 1 year low of $34.25 and a 1 year high of $149.80.

Vistra declared that its Board of Directors has initiated a stock buyback plan on Thursday, November 7th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to reacquire up to 2.1% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Vistra Increases Dividend

The company also recently disclosed 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 represents a $0.88 annualized dividend and a yield of 0.62%. This is a positive change from Vistra’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Friday, December 20th. Vistra’s payout ratio is presently 16.42%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on VST shares. JPMorgan Chase & Co. assumed coverage on Vistra in a report on Thursday, October 17th. They set an “overweight” rating and a $178.00 price target on the stock. BMO Capital Markets lifted their target price on Vistra from $146.00 to $147.00 and gave the company an “outperform” rating in a research note on Tuesday, October 29th. 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. Royal Bank of Canada increased their price objective on shares of Vistra from $105.00 to $141.00 and gave the company an “outperform” rating in a report on Thursday, October 3rd. Finally, Morgan Stanley boosted their target price on shares of Vistra from $110.00 to $132.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. Ten analysts have rated the stock with a buy rating, According to MarketBeat.com, Vistra currently has an average rating of “Buy” and an average price target of $145.40.

Vistra 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.