Morse Asset Management Inc Takes Position in Vistra Corp. (NYSE:VST)

Morse Asset Management Inc acquired a new stake in Vistra Corp. (NYSE:VST) in the 3rd quarter, HoldingsChannel.com reports. The firm acquired 5,325 shares of the company’s stock, valued at approximately $631,000.

A number of other large investors have also recently bought and sold shares of the business. Lone Pine Capital LLC boosted its stake in shares of Vistra by 6.6% during the 2nd quarter. Lone Pine Capital LLC now owns 6,838,007 shares of the company’s stock worth $587,932,000 after acquiring an additional 425,126 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in Vistra by 51.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,826,631 shares of the company’s stock worth $453,609,000 after purchasing an additional 1,293,974 shares during the period. Janus Henderson Group PLC raised its position in shares of Vistra by 36.0% in the third quarter. Janus Henderson Group PLC now owns 3,781,908 shares of the company’s stock valued at $448,320,000 after purchasing an additional 1,000,307 shares during the period. Castle Hook Partners LP lifted its stake in shares of Vistra by 33.5% in the third quarter. Castle Hook Partners LP now owns 2,610,273 shares of the company’s stock worth $309,422,000 after buying an additional 654,568 shares during the last quarter. Finally, Rubric Capital Management LP boosted its holdings in shares of Vistra by 60.1% during the 3rd quarter. Rubric Capital Management LP now owns 2,125,000 shares of the company’s stock worth $251,898,000 after buying an additional 797,894 shares during the period. 90.88% of the stock is currently owned by institutional investors.

Vistra Trading Up 0.0 %

VST stock opened at $154.16 on Wednesday. The company has a current ratio of 1.11, a quick ratio of 0.99 and a debt-to-equity ratio of 4.68. The firm has a market cap of $52.45 billion, a P/E ratio of 28.76, a P/E/G ratio of 1.98 and a beta of 1.16. Vistra Corp. has a 1-year low of $35.99 and a 1-year high of $168.67. The business’s 50 day moving average is $135.20 and its 200-day moving average is $103.22.

Vistra Increases Dividend

The business 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 is a positive change from Vistra’s previous quarterly dividend of $0.22. This represents a $0.88 annualized dividend and a yield of 0.57%. The ex-dividend date of this dividend is Friday, December 20th. Vistra’s dividend payout ratio is currently 16.42%.

Vistra declared that its board has initiated a stock 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 reacquire up to 2.1% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on VST shares. Jefferies Financial Group boosted their target price on shares of Vistra from $99.00 to $137.00 and gave the stock a “buy” rating in a research report 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 report on Friday, November 22nd. BMO Capital Markets lifted their price target on Vistra from $146.00 to $147.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 29th. Royal Bank of Canada increased their price objective on Vistra from $105.00 to $141.00 and gave the company an “outperform” rating in a research report on Thursday, October 3rd. Finally, Guggenheim boosted their target price on shares of Vistra from $133.00 to $177.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Ten analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $149.10.

Insider Activity

In other news, 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 value of $33,413,514.00. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Scott A. Hudson sold 115,000 shares of the 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 sale, the executive vice president now owns 254,932 shares in the company, valued at approximately $41,849,637.12. This trade 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 owned by corporate insiders.

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.