Concurrent Investment Advisors LLC Takes Position in Vistra Corp. $VST

Key Points

• Concurrent Investment Advisors LLC acquired a new stake in Vistra Corp. in Q2, purchasing 2,076 shares valued at approximately $402,000.
• Several hedge funds, including Nuveen LLC and Assenagon Asset Management S.A., have made significant investments in Vistra, with institutional investors now holding 90.88% of the stock.
• Vistra recently increased its quarterly dividend to $0.226, representing a 0.4% dividend yield and boosting its annual payout from the previous $0.23 per share.

Concurrent Investment Advisors LLC acquired a new stake in Vistra Corp. (NYSE:VST - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 2,076 shares of the company's stock, valued at approximately $402,000.

Other hedge funds have also added to or reduced their stakes in the company. Nuveen LLC acquired a new position in Vistra in the 1st quarter valued at approximately $209,149,000. Assenagon Asset Management S.A. grew its stake in shares of Vistra by 2,341.6% in the second quarter. Assenagon Asset Management S.A. now owns 865,562 shares of the company's stock worth $167,755,000 after purchasing an additional 830,111 shares during the last quarter. Fred Alger Management LLC increased its holdings in Vistra by 102.5% in the first quarter. Fred Alger Management LLC now owns 973,339 shares of the company's stock valued at $114,309,000 after purchasing an additional 492,765 shares during the period. 140 Summer Partners LP bought a new position in Vistra during the 1st quarter worth $56,876,000. Finally, Hsbc Holdings PLC raised its position in Vistra by 52.2% during the 1st quarter. Hsbc Holdings PLC now owns 943,057 shares of the company's stock worth $109,761,000 after purchasing an additional 323,264 shares during the last quarter. 90.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on VST shares. Weiss Ratings reissued a "buy (b)" rating on shares of Vistra in a research note on Wednesday, October 8th. Daiwa America upgraded Vistra from a "hold" rating to a "strong-buy" rating in a report on Wednesday, September 17th. Melius started coverage on shares of Vistra in a research report on Wednesday, August 20th. They set a "buy" rating and a $295.00 target price for the company. Scotiabank began coverage on shares of Vistra in a report on Monday, September 22nd. They set a "sector outperform" rating and a $256.00 price target for the company. Finally, Melius Research raised shares of Vistra to a "strong-buy" rating in a research note on Wednesday, August 20th. Four investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $229.31.

Insider Activity at Vistra

In related news, CEO James A. Burke sold 21,355 shares of the business's stock in a transaction dated Thursday, October 16th. The stock was sold at an average price of $215.21, for a total value of $4,595,809.55. Following the completion of the sale, the chief executive officer directly owned 282,597 shares of the company's stock, valued at $60,817,700.37. The trade was a 7.03% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In the last three months, insiders sold 590,228 shares of company stock valued at $121,653,740. Company insiders own 1.42% of the company's stock.

Vistra Stock Performance

Shares of VST stock opened at $201.53 on Friday. The firm has a 50 day moving average of $200.58 and a 200-day moving average of $175.84. The company has a market cap of $68.28 billion, a price-to-earnings ratio of 32.14, a price-to-earnings-growth ratio of 2.86 and a beta of 1.33. The company has a quick ratio of 0.80, a current ratio of 0.90 and a debt-to-equity ratio of 6.58. Vistra Corp. has a 52 week low of $90.51 and a 52 week high of $219.82.

Vistra (NYSE:VST - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $1.01 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 net margin of 12.90% and a return on equity of 108.41%. On average, equities analysts forecast that Vistra Corp. will post 7 earnings per share for the current year.

Vistra Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Friday, September 19th were paid a $0.226 dividend. The ex-dividend date was Friday, September 19th. This represents a $0.90 annualized dividend and a dividend yield of 0.4%. This is a boost from Vistra's previous quarterly dividend of $0.23. Vistra's dividend payout ratio (DPR) is 14.35%.

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.

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