Burnham & Co LLC Acquires Shares of 11,317 Vistra Corp. $VST

Key Points

• Burnham & Co. LLC initiated a Vistra position by purchasing 11,317 shares worth approximately $1.8 million in the second quarter. Institutional investors collectively own 90.88% of Vistra’s outstanding stock.
• Vistra’s shares opened at $136.43, near the company’s 52-week low, after the latest quarterly results missed expectations: EPS was $0.76 versus the $1.61 consensus estimate, while revenue was $4.02 billion compared with forecasts of $5.46 billion.
• Analysts maintain a generally bullish outlook, with a consensus “Moderate Buy” rating and a $226.94 price target. Vistra also declared a quarterly dividend of $0.23 per share, equivalent to an annualized $0.92 payout and a 0.7% yield.

Burnham & Co LLC bought a new position in shares of Vistra Corp. (NYSE:VST - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 11,317 shares of the company's stock, valued at approximately $1,795,000. Vistra comprises approximately 1.4% of Burnham & Co LLC's portfolio, making the stock its 20th biggest position.

Several other large investors have also made changes to their positions in VST. BlackRock Inc. bought a new position in shares of Vistra during the 2nd quarter worth approximately $4,610,496,000. Norges Bank bought a new stake in Vistra in the 4th quarter valued at $746,729,000. Fifth Third Bancorp raised its stake in Vistra by 95.1% in 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 during the period. Payden & Rygel lifted its holdings 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 purchasing an additional 34,300 shares during the last quarter. Finally, Signature Estate & Investment Advisors LLC acquired a new stake in Vistra during the 4th quarter valued at $29,875,000. Institutional investors and hedge funds own 90.88% of the company's stock.

Vistra Stock Down 1.8%

Vistra stock opened at $136.43 on Friday. The company has a debt-to-equity ratio of 5.87, a quick ratio of 0.87 and a current ratio of 0.97. Vistra Corp. has a 52-week low of $132.66 and a 52-week high of $219.82. The firm has a 50 day moving average price of $153.73 and a two-hundred day moving average price of $155.83. The firm has a market cap of $45.79 billion, a price-to-earnings ratio of 23.05 and a beta of 1.41.

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

Vistra Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Monday, September 21st will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Monday, September 21st. This represents a $0.92 dividend on an annualized basis and a yield of 0.7%. This is an increase from Vistra's previous quarterly dividend of $0.23. Vistra's dividend payout ratio is presently 15.54%.

Analysts Set New Price Targets

Several analysts recently commented on VST shares. Raymond James Financial set a $208.00 target price on shares of Vistra in a report on Monday, April 27th. Sanford C. Bernstein set a $187.00 price objective on shares of Vistra and gave the stock an "outperform" rating in a research report on Tuesday, June 16th. Jefferies Financial Group restated a "buy" rating and set a $190.00 price objective on shares of Vistra in a report on Thursday, May 21st. UBS Group decreased their target price on Vistra from $233.00 to $227.00 and set a "buy" rating on the stock in a research report on Tuesday, July 28th. Finally, JPMorgan Chase & Co. lowered their target price on Vistra from $240.00 to $231.00 and set an "overweight" rating on the stock in a research note on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $226.94.

Insider Buying and Selling

In other news, Director Scott B. Helm sold 25,000 shares of the stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $160.00, for a total value of $4,000,000.00. Following the completion of the sale, the director directly owned 232,200 shares of the company's stock, valued at $37,152,000. This represents a 9.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Paul M. Barbas sold 244 shares of the firm's stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $153.00, for a total value of $37,332.00. Following the completion of the transaction, the director owned 53,006 shares in the company, valued at $8,109,918. This represents 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 quarter, insiders sold 41,588 shares of company stock valued at $6,739,227. Company insiders own 0.92% of the company's stock.

About Vistra

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source