Synovus Financial Corp Takes $325,000 Position in Vistra Corp. $VST

Key Points

• Synovus Financial Corp acquired 2,770 shares of Vistra Corp., valued at approximately $325,000, during the first quarter, increasing the institutional ownership in the company.
• Vistra Corp. reported $1.01 EPS for the most recent quarter, missing analyst estimates, and recorded a revenue of $4.25 billion against expectations of $5.15 billion.
• The company recently announced an increase in its quarterly dividend to $0.226 per share, reflecting a positive change from the previous dividend and maintaining a low payout ratio of 14.35%.

Synovus Financial Corp acquired a new position in Vistra Corp. (NYSE:VST - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,770 shares of the company's stock, valued at approximately $325,000.

Other institutional investors and hedge funds have also modified their holdings of the company. HM Payson & Co. raised its stake in Vistra by 275.4% during the 1st quarter. HM Payson & Co. now owns 229 shares of the company's stock valued at $27,000 after purchasing an additional 168 shares during the last quarter. Ameriflex Group Inc. acquired a new position in Vistra during the 4th quarter valued at $32,000. Keener Financial Planning LLC acquired a new position in Vistra during the 1st quarter valued at $34,000. Zions Bancorporation National Association UT acquired a new position in shares of Vistra in the 1st quarter valued at $39,000. Finally, Opal Wealth Advisors LLC acquired a new position in shares of Vistra in the 1st quarter valued at $46,000. 90.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Vistra

In other news, Director John R. Sult sold 25,000 shares of the firm's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $171.67, for a total transaction of $4,291,750.00. Following the completion of the sale, the director owned 75,946 shares in the company, valued at approximately $13,037,649.82. This trade represents a 24.77% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.42% of the company's stock.

Vistra Trading Up 0.9%

Vistra stock traded up $1.63 during midday trading on Thursday, hitting $189.75. 902,474 shares of the stock were exchanged, compared to its average volume of 6,892,261. The company has a quick ratio of 0.80, a current ratio of 0.90 and a debt-to-equity ratio of 6.58. The stock has a market capitalization of $64.29 billion, a PE ratio of 30.32, a P/E/G ratio of 2.18 and a beta of 1.33. The company has a fifty day simple moving average of $195.59 and a two-hundred day simple moving average of $159.63. Vistra Corp. has a 52 week low of $72.90 and a 52 week high of $216.85.

Vistra (NYSE:VST - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $1.01 EPS for the quarter, missing the consensus estimate of $1.63 by ($0.62). The company had revenue of $4.25 billion for the quarter, compared to analyst estimates of $5.15 billion. Vistra had a return on equity of 108.41% and a net margin of 12.90%. Equities research analysts anticipate that Vistra Corp. will post 7 EPS for the current fiscal year.

Vistra Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 19th will be paid a $0.226 dividend. This is a boost from Vistra's previous quarterly dividend of $0.23. This represents a $0.90 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Friday, September 19th. Vistra's dividend payout ratio (DPR) is 14.35%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on VST. BMO Capital Markets increased their price objective on shares of Vistra from $191.00 to $229.00 and gave the company an "outperform" rating in a research note on Tuesday, August 12th. Melius began coverage on shares of Vistra in a research note on Wednesday, August 20th. They issued a "buy" rating and a $295.00 price objective for the company. UBS Group increased their price objective on shares of Vistra from $207.00 to $230.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Morgan Stanley set a $207.00 price objective on shares of Vistra and gave the company an "overweight" rating in a research note on Thursday, August 21st. Finally, Jefferies Financial Group increased their price objective on shares of Vistra from $145.00 to $241.00 and gave the company a "buy" rating in a research note on Friday, August 8th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Vistra presently has an average rating of "Moderate Buy" and an average target price of $201.43.

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.