Clearbridge Investments LLC Sells 239,294 Shares of Vistra Corp. $VST

Key Points

• Clearbridge Investments reduced its Vistra stake by 12.5% in the fourth quarter, selling 239,294 shares and leaving it with 1,682,219 shares valued at about $271.4 million.
• Vistra reported strong quarterly results, posting $2.87 EPS versus the $1.32 consensus estimate and revenue of $5.64 billion, while analysts still expect 9.3 EPS for the full year.
• The company raised its dividend to $0.229 per quarter, and despite recent insider selling and a 3.2% drop in the stock, analysts maintain a consensus Buy rating with a $233.33 target price.

Clearbridge Investments LLC cut its position in Vistra Corp. (NYSE:VST - Free Report) by 12.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,682,219 shares of the company's stock after selling 239,294 shares during the period. Clearbridge Investments LLC owned about 0.50% of Vistra worth $271,392,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Payden & Rygel increased its stake in shares of Vistra by 3,118.2% in the fourth quarter. Payden & Rygel now owns 35,400 shares of the company's stock worth $5,711,000 after purchasing an additional 34,300 shares in the last quarter. Norges Bank bought a new position in Vistra during the fourth quarter valued at $746,729,000. Signature Estate & Investment Advisors LLC bought a new stake in shares of Vistra in the 4th quarter worth about $29,875,000. Legal & General Group Plc lifted its holdings in shares of Vistra by 12.2% in the 4th quarter. Legal & General Group Plc now owns 1,768,694 shares of the company's stock worth $285,343,000 after acquiring an additional 192,274 shares during the last quarter. Finally, Intech Investment Management LLC lifted its holdings in shares of Vistra by 34.4% in the 4th quarter. Intech Investment Management LLC now owns 188,921 shares of the company's stock worth $30,479,000 after acquiring an additional 48,378 shares during the last quarter. 90.88% of the stock is owned by hedge funds and other institutional investors.

Vistra Trading Down 3.2%

NYSE VST opened at $148.72 on Friday. The company has a debt-to-equity ratio of 5.51, a quick ratio of 0.79 and a current ratio of 0.90. The company has a market capitalization of $50.15 billion, a price-to-earnings ratio of 24.91 and a beta of 1.40. The company's 50-day simple moving average is $154.21 and its two-hundred day simple moving average is $161.22. Vistra Corp. has a one year low of $132.66 and a one year high of $219.82.

Vistra (NYSE:VST - Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported $2.87 EPS for the quarter, beating analysts' consensus estimates of $1.32 by $1.55. The business had revenue of $5.64 billion for the quarter, compared to the consensus estimate of $5.22 billion. Vistra had a net margin of 11.52% and a return on equity of 105.64%. Equities analysts forecast that Vistra Corp. will post 9.3 EPS for the current fiscal year.

Vistra Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd will be given a $0.229 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Monday, June 22nd. This is an increase from Vistra's previous quarterly dividend of $0.23. Vistra's payout ratio is presently 15.24%.

Insider Buying and Selling

In other news, CAO Margaret Montemayor sold 5,000 shares of Vistra stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $164.96, for a total value of $824,800.00. Following the transaction, the chief accounting officer owned 14,360 shares of the company's stock, valued at $2,368,825.60. The trade was a 25.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Stephanie Zapata Moore sold 10,000 shares of Vistra stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $160.31, for a total transaction of $1,603,100.00. Following the completion of the transaction, the executive vice president directly owned 114,409 shares in the company, valued at approximately $18,340,906.79. The trade was a 8.04% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 19,600 shares of company stock worth $3,163,900. Insiders own 0.92% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on VST. Morgan Stanley reiterated an "overweight" rating and set a $212.00 price objective on shares of Vistra in a report on Thursday, May 21st. Jefferies Financial Group reiterated a "buy" rating and set a $190.00 price objective on shares of Vistra in a report on Thursday, May 21st. JPMorgan Chase & Co. cut their target price on shares of Vistra from $240.00 to $231.00 and set an "overweight" rating on the stock in a research report on Thursday, April 30th. Weiss Ratings raised shares of Vistra from a "hold (c)" rating to a "hold (c+)" rating in a research report on Monday, May 11th. Finally, Raymond James Financial set a $208.00 target price on shares of Vistra in a research report on Monday, April 27th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $233.33.

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.

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