Canada Pension Plan Investment Board Sells 324,578 Shares of Vistra Corp. $VST

Key Points

• The Canada Pension Plan Investment Board cut its stake in Vistra Corp. by 48.9%, owning 339,689 shares worth approximately $39.9 million after selling 324,578 shares in the first quarter.
• Vistra's stock has seen a price target range increase from analysts, with Jefferies setting a new price objective of $241 and several others rating the stock as a "Buy."
• The company announced a quarterly dividend increase, now set at $0.226, reflecting a 0.5% yield and a payout ratio of 14.35%.

Canada Pension Plan Investment Board lowered its position in shares of Vistra Corp. (NYSE:VST - Free Report) by 48.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 339,689 shares of the company's stock after selling 324,578 shares during the quarter. Canada Pension Plan Investment Board owned 0.10% of Vistra worth $39,893,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of VST. Nuveen LLC bought a new position in shares of Vistra during the 1st quarter worth approximately $209,149,000. GAMMA Investing LLC lifted its position in shares of Vistra by 10,810.6% during the 1st quarter. GAMMA Investing LLC now owns 633,471 shares of the company's stock worth $74,395,000 after buying an additional 627,665 shares in the last quarter. PointState Capital LP lifted its position in shares of Vistra by 176.7% during the 4th quarter. PointState Capital LP now owns 929,533 shares of the company's stock worth $128,155,000 after buying an additional 593,585 shares in the last quarter. Fred Alger Management LLC bought a new position in shares of Vistra during the 4th quarter worth approximately $66,257,000. Finally, Castle Hook Partners LP lifted its position in shares of Vistra by 13.6% during the 4th quarter. Castle Hook Partners LP now owns 2,964,222 shares of the company's stock worth $408,677,000 after buying an additional 353,949 shares in the last quarter. Institutional investors own 90.88% of the company's stock.

Vistra Stock Performance

Vistra stock traded up $2.26 during mid-day trading on Wednesday, reaching $188.07. The company's stock had a trading volume of 2,729,291 shares, compared to its average volume of 6,928,708. Vistra Corp. has a 12-month low of $72.90 and a 12-month high of $216.85. The company has a market capitalization of $63.72 billion, a P/E ratio of 29.99, a PEG ratio of 2.18 and a beta of 1.33. The company has a debt-to-equity ratio of 6.58, a quick ratio of 0.80 and a current ratio of 0.90. The firm's fifty day moving average price is $195.56 and its two-hundred day moving average price is $159.43.

Vistra (NYSE:VST - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $1.01 earnings per share for the quarter, missing analysts' consensus estimates of $1.63 by ($0.62). Vistra had a net margin of 12.90% and a return on equity of 108.41%. The business had revenue of $4.25 billion during the quarter, compared to analysts' expectations of $5.15 billion. Sell-side analysts predict that Vistra Corp. will post 7 EPS for the current fiscal year.

Vistra Increases Dividend

The firm also recently disclosed 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. The ex-dividend date is Friday, September 19th. This represents a $0.90 dividend on an annualized basis and a yield of 0.5%. This is a positive change from Vistra's previous quarterly dividend of $0.23. Vistra's dividend payout ratio (DPR) is presently 14.35%.

Insider Buying and Selling

In related news, Director John R. Sult sold 25,000 shares of Vistra stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $171.67, for a total value of $4,291,750.00. Following the completion of the transaction, the director directly owned 75,946 shares in the company, valued at approximately $13,037,649.82. The trade was a 24.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Scott B. Helm sold 50,000 shares of Vistra stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $172.75, for a total transaction of $8,637,500.00. Following the completion of the transaction, the director owned 255,192 shares of the company's stock, valued at $44,084,418. This represents a 16.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.42% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have commented on VST. BMO Capital Markets lifted their target price on shares of Vistra from $191.00 to $229.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 12th. UBS Group raised their price target on shares of Vistra from $207.00 to $230.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Jefferies Financial Group raised their price target on shares of Vistra from $145.00 to $241.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. Evercore ISI set a $192.00 price target on shares of Vistra and gave the stock an "outperform" rating in a research note on Thursday, May 15th. Finally, Melius started coverage on shares of Vistra in a research note on Wednesday, August 20th. They set a "buy" rating and a $295.00 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus 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.