Daiwa Securities Group Inc. Increases Stake in Vistra Corp. $VST

Key Points

• Daiwa Securities Group increased its stake in Vistra by 14.2% in the fourth quarter, holding 67,918 shares worth about $11.0 million at the end of the period.
• Vistra reported better-than-expected quarterly results, posting EPS of $2.87 versus estimates of $1.32 and revenue of $5.64 billion versus expectations of $5.22 billion.
• The company also raised its quarterly dividend to $0.229 per share, while analysts remain broadly bullish with a Buy consensus and an average price target of $233.33.

Daiwa Securities Group Inc. boosted its stake in shares of Vistra Corp. (NYSE:VST - Free Report) by 14.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 67,918 shares of the company's stock after acquiring an additional 8,463 shares during the quarter. Daiwa Securities Group Inc.'s holdings in Vistra were worth $10,961,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Pinpoint Asset Management Singapore Pte. Ltd. purchased a new position in Vistra during the third quarter valued at approximately $28,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new position in Vistra during the fourth quarter valued at approximately $25,000. Triumph Capital Management purchased a new position in Vistra during the third quarter valued at approximately $38,000. Strive Asset Management LLC acquired a new stake in Vistra in the third quarter valued at approximately $38,000. Finally, Salomon & Ludwin LLC grew its holdings in Vistra by 74.8% in the fourth quarter. Salomon & Ludwin LLC now owns 215 shares of the company's stock valued at $35,000 after purchasing an additional 92 shares during the period. 90.88% of the stock is currently owned by hedge funds and other institutional investors.

Vistra Stock Down 3.2%

Shares of VST opened at $148.72 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.79 and a debt-to-equity ratio of 5.51. Vistra Corp. has a 12 month low of $132.66 and a 12 month high of $219.82. The stock's 50 day moving average is $154.21 and its two-hundred day moving average is $161.22. The firm has a market cap of $50.15 billion, a P/E ratio of 24.91 and a beta of 1.40.

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

Vistra Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd will be paid a $0.229 dividend. This is a boost from Vistra's previous quarterly dividend of $0.23. 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. Vistra's dividend payout ratio is presently 15.24%.

Analysts Set New Price Targets

Several brokerages have commented on VST. Raymond James Financial set a $208.00 price objective on Vistra in a report on Monday, April 27th. Wells Fargo & Company dropped their price objective on Vistra from $236.00 to $234.00 and set an "overweight" rating on the stock in a report on Friday, February 27th. Jefferies Financial Group reissued a "buy" rating and issued a $190.00 price objective on shares of Vistra in a report on Thursday, May 21st. JPMorgan Chase & Co. dropped their price objective on Vistra from $240.00 to $231.00 and set an "overweight" rating on the stock in a report on Thursday, April 30th. Finally, Morgan Stanley reissued an "overweight" rating and issued a $212.00 price objective on shares of Vistra in a report on Thursday, May 21st. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $233.33.

Insider Buying and Selling

In other news, 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 value of $1,603,100.00. Following the sale, the executive vice president directly owned 114,409 shares of the company's stock, valued at $18,340,906.79. The trade was a 8.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Margaret Montemayor sold 4,600 shares of Vistra stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $160.00, for a total value of $736,000.00. Following the completion of the sale, the chief accounting officer directly owned 9,760 shares in the company, valued at $1,561,600. This represents a 32.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 19,600 shares of company stock worth $3,163,900 over the last ninety days. Corporate 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.

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