Fmr LLC Has $2.72 Billion Position in Vistra Corp. (NYSE:VST)

Fmr LLC cut its stake in Vistra Corp. (NYSE:VST) by 15.0% during the third quarter, HoldingsChannel reports. The fund owned 22,908,240 shares of the company’s stock after selling 4,053,508 shares during the quarter. Fmr LLC owned about 0.07% of Vistra worth $2,715,543,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Vistra in the third quarter worth approximately $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 purchasing an additional 256 shares during the last quarter. Redwood Wealth Management Group LLC bought a new stake in Vistra in the second quarter worth $26,000. ORG Wealth Partners LLC acquired a new position in Vistra during the third quarter worth $40,000. Finally, Fortitude Family Office LLC raised its holdings in Vistra by 125.0% during the third quarter. Fortitude Family Office LLC now owns 360 shares of the company’s stock valued at $43,000 after buying an additional 200 shares in the last quarter. 90.88% of the stock is owned by institutional investors and hedge funds.

Vistra Stock Performance

NYSE:VST opened at $154.14 on Tuesday. 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’s 50-day moving average is $127.24 and its 200-day moving average is $100.11. Vistra Corp. has a 52-week low of $34.70 and a 52-week high of $168.67. The company has a market cap of $52.44 billion, a price-to-earnings ratio of 28.76, a PEG ratio of 2.08 and a beta of 1.09.

Vistra declared that its Board of Directors has approved a stock repurchase program on Thursday, November 7th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to purchase up to 2.1% of its shares through open market purchases. Shares repurchase programs are typically an indication 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 given a $0.221 dividend. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.57%. This is an increase from Vistra’s previous quarterly dividend of $0.22. Vistra’s dividend payout ratio (DPR) is currently 16.42%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Guggenheim upped their price target on Vistra from $133.00 to $177.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. BMO Capital Markets upped their target price on Vistra from $146.00 to $147.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 29th. UBS Group dropped their price target on shares of Vistra from $157.00 to $150.00 and set a “buy” rating on the stock in a research report on Tuesday, October 22nd. BNP Paribas assumed coverage on shares of Vistra in a report on Monday, October 14th. They set an “outperform” rating and a $231.00 price objective for the company. Finally, Morgan Stanley raised their target price on shares of Vistra from $135.00 to $169.00 and gave the company an “overweight” rating in a research note on Friday. Ten equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Vistra has an average rating of “Buy” and a consensus target price of $149.10.

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.