Bank of Nova Scotia Grows Stock Holdings in Vistra Corp. $VST

Key Points

• Bank of Nova Scotia increased its Vistra stake by 144.4% in the second quarter, acquiring 197,876 additional shares and ending the period with 334,881 shares valued at $53.1 million. Institutional investors collectively own 90.88% of Vistra.
• Vistra’s latest quarter fell short of expectations, with EPS of $0.76 versus the $1.61 consensus and revenue of $4.02 billion versus estimates of $5.46 billion. Shares opened at $136.43, well below their 52-week high of $219.82.
• The company maintained its quarterly dividend at $0.23 per share, or $0.92 annually, while analysts remained broadly positive, assigning a “Moderate Buy” consensus rating and an average price target of $226.94.

Bank of Nova Scotia grew its stake in Vistra Corp. (NYSE:VST - Free Report) by 144.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 334,881 shares of the company's stock after acquiring an additional 197,876 shares during the period. Bank of Nova Scotia owned 0.10% of Vistra worth $53,129,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of VST. BlackRock Inc. bought a new position in Vistra in the second quarter worth approximately $4,610,496,000. Norges Bank purchased a new stake in Vistra during the fourth quarter worth $746,729,000. Fifth Third Bancorp boosted its position in Vistra by 95.1% during the 1st quarter. Fifth Third Bancorp now owns 177,199 shares of the company's stock valued at $26,638,000 after acquiring an additional 86,393 shares in the last quarter. Payden & Rygel boosted its position in Vistra by 3,118.2% during the 4th quarter. Payden & Rygel now owns 35,400 shares of the company's stock valued at $5,711,000 after acquiring an additional 34,300 shares in the last quarter. Finally, Signature Estate & Investment Advisors LLC purchased a new position in shares of Vistra in the 4th quarter valued at $29,875,000. Institutional investors own 90.88% of the company's stock.

Insider Transactions at Vistra

In other Vistra news, Director John R. Sult sold 6,500 shares of Vistra stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $170.00, for a total transaction of $1,105,000.00. Following the completion of the sale, the director owned 70,714 shares of the company's stock, valued at approximately $12,021,380. The trade was a 8.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Paul M. Barbas sold 244 shares of the business's stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $153.00, for a total value of $37,332.00. Following the sale, the director owned 53,006 shares in the company, valued at approximately $8,109,918. The trade was a 0.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 41,588 shares of company stock worth $6,739,227. Insiders own 0.92% of the company's stock.

Vistra Price Performance

Shares of NYSE VST opened at $136.43 on Friday. Vistra Corp. has a fifty-two week low of $132.66 and a fifty-two week high of $219.82. The company has a market cap of $45.79 billion, a PE ratio of 23.05 and a beta of 1.41. The company has a debt-to-equity ratio of 5.87, a quick ratio of 0.87 and a current ratio of 0.97. The business has a 50-day simple moving average of $153.73 and a two-hundred day simple moving average of $155.83.

Vistra (NYSE:VST - Get Free Report) last posted its quarterly earnings data on Friday, August 7th. The company reported $0.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.61 by ($0.85). Vistra had a net margin of 11.55% and a return on equity of 108.68%. The company had revenue of $4.02 billion for the quarter, compared to analyst estimates of $5.46 billion. As a group, equities analysts expect that Vistra Corp. will post 9.23 EPS for the current fiscal year.

Vistra Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Monday, September 21st will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, September 21st. This is a positive change from Vistra's previous quarterly dividend of $0.23. Vistra's payout ratio is currently 15.54%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on VST shares. Seaport Research Partners restated a "buy" rating and set a $230.00 price objective on shares of Vistra in a research note on Monday, June 15th. Morgan Stanley boosted their target price on shares of Vistra from $212.00 to $227.00 and gave the stock an "overweight" rating in a report on Friday. UBS Group decreased their price target on shares of Vistra from $233.00 to $227.00 and set a "buy" rating for the company in a research report on Tuesday, July 28th. Weiss Ratings downgraded shares of Vistra from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, August 13th. Finally, Sanford C. Bernstein set a $187.00 price objective on shares of Vistra and gave the stock an "outperform" rating in a research note on Tuesday, June 16th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $226.94.

Vistra Profile

Vistra NYSE: VST is an integrated power company that develops, owns and operates electricity generation and retail businesses in the United States. The company's operations span wholesale power production—through a diversified fleet of thermal and lower‑carbon generation assets—and retail electricity supply to residential, commercial and industrial customers. Vistra serves organized wholesale markets and competitive retail markets, with a notable presence in Texas and other regional U.S. power markets.

Vistra's core activities include the ownership and operation of generation facilities, the commercial dispatch and optimization of those assets into wholesale markets, and the sale of electricity and related services to end-use customers through its retail brands.

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