Truist Financial Corp Increases Holdings in Vistra Corp. (NYSE:VST)

Truist Financial Corp lifted its position in shares of Vistra Corp. (NYSE:VST) by 106.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,963 shares of the company’s stock after buying an additional 9,757 shares during the period. Truist Financial Corp’s holdings in Vistra were worth $2,614,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. State Street Corp increased its stake in Vistra by 6.8% in the 3rd quarter. State Street Corp now owns 16,355,255 shares of the company’s stock worth $1,938,752,000 after purchasing an additional 1,037,402 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in Vistra by 51.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,826,631 shares of the company’s stock worth $453,609,000 after acquiring an additional 1,293,974 shares in the last quarter. Janus Henderson Group PLC raised its stake 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 worth $448,320,000 after purchasing an additional 1,000,307 shares during the last quarter. Castle Hook Partners LP raised 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 purchasing an additional 654,568 shares during the last quarter. Finally, Rubric Capital Management LP raised its stake in shares of Vistra by 60.1% in the third quarter. Rubric Capital Management LP now owns 2,125,000 shares of the company’s stock worth $251,898,000 after purchasing an additional 797,894 shares during the last quarter. 90.88% of the stock is owned by hedge funds and other institutional investors.

Vistra Stock Down 3.4 %

Vistra stock opened at $137.86 on Wednesday. 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 business’s 50-day simple moving average is $160.10 and its two-hundred day simple moving average is $133.60. The company has a market cap of $46.90 billion, a PE ratio of 25.72, a PEG ratio of 1.12 and a beta of 1.22. Vistra Corp. has a fifty-two week low of $48.22 and a fifty-two week high of $199.84.

Vistra Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 20th will be issued a $0.2235 dividend. This represents a $0.89 annualized dividend and a dividend yield of 0.65%. The ex-dividend date is Thursday, March 20th. This is a boost from Vistra’s previous quarterly dividend of $0.22. Vistra’s payout ratio is 16.42%.

Vistra announced that its board has initiated a share repurchase plan on Thursday, November 7th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 2.1% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

A number of analysts recently commented on VST shares. Morgan Stanley upped their price objective on Vistra from $135.00 to $169.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Bank of America assumed coverage on Vistra in a research note on Monday, January 27th. They set a “neutral” rating and a $206.00 price target for the company. Evercore ISI assumed coverage on Vistra in a research report on Tuesday, January 21st. They set an “outperform” rating and a $202.00 price objective on the stock. UBS Group increased their price target on Vistra from $161.00 to $174.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Finally, BMO Capital Markets increased their price target on Vistra from $151.00 to $191.00 and gave the stock an “outperform” rating in a report on Wednesday, January 22nd. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $171.64.

Insider Activity

In related news, Director Scott B. Helm sold 20,000 shares of the company’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $139.77, for a total value of $2,795,400.00. Following the completion of the transaction, the director now owns 343,350 shares of the company’s stock, valued at approximately $47,990,029.50. This represents a 5.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.42% of the company’s stock.

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.