Forum Financial Management LP Sells 5,479 Shares of Vistra Corp. $VST

Key Points

• Forum Financial Management LP significantly decreased its stake in Vistra Corp. by 47.4%, selling 5,479 shares and leaving it with 6,082 shares valued at approximately $1.18 million.
• Vistra's recent earnings report showed a miss on expectations, with an EPS of $1.01 compared to the anticipated $1.63 and revenues of $4.25 billion versus the projected $5.15 billion.
• The company has increased its quarterly dividend to $0.226 per share, reflecting an annualized dividend yield of 0.5% and a payout ratio of 14.35%.

Forum Financial Management LP cut its stake in Vistra Corp. (NYSE:VST - Free Report) by 47.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,082 shares of the company's stock after selling 5,479 shares during the period. Forum Financial Management LP's holdings in Vistra were worth $1,179,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Banque Transatlantique SA raised its stake in shares of Vistra by 132.0% in the 1st quarter. Banque Transatlantique SA now owns 232 shares of the company's stock valued at $25,000 after buying an additional 132 shares in the last quarter. HM Payson & Co. raised its stake in shares of Vistra by 275.4% in the 1st quarter. HM Payson & Co. now owns 229 shares of the company's stock valued at $27,000 after buying an additional 168 shares in the last quarter. Keener Financial Planning LLC acquired a new position in shares of Vistra in the 1st quarter valued at $34,000. WPG Advisers LLC acquired a new position in shares of Vistra in the 1st quarter valued at $37,000. Finally, Zions Bancorporation National Association UT acquired a new position in shares of Vistra in the 1st quarter valued at $39,000. 90.88% of the stock is owned by institutional investors.

Vistra Trading Up 2.5%

Shares of Vistra stock opened at $190.44 on Friday. The stock has a market capitalization of $64.53 billion, a P/E ratio of 30.37, a price-to-earnings-growth ratio of 2.64 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. The company has a 50-day simple moving average of $199.36 and a 200 day simple moving average of $177.73. Vistra Corp. has a 12-month low of $90.51 and a 12-month high of $219.82.

Vistra (NYSE:VST - Get Free Report) last announced 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 firm had revenue of $4.25 billion for the quarter, compared to analyst estimates of $5.15 billion. Vistra had a return on equity of 108.41% and a net margin of 12.90%. Research analysts expect that Vistra Corp. will post 7 earnings per share for the current fiscal year.

Vistra Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Friday, September 19th were given a $0.226 dividend. This represents a $0.90 annualized dividend and a yield of 0.5%. The ex-dividend date was Friday, September 19th. This is a boost from Vistra's previous quarterly dividend of $0.23. Vistra's dividend payout ratio is 14.35%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on VST. Melius began coverage on shares of Vistra in a research note on Wednesday, August 20th. They issued a "buy" rating and a $295.00 price objective for the company. BMO Capital Markets increased their price objective on shares of Vistra from $229.00 to $236.00 and gave the company an "outperform" rating in a research note on Friday, October 3rd. Jefferies Financial Group restated a "hold" rating and issued a $230.00 price objective (down previously from $241.00) on shares of Vistra in a research note on Monday, September 22nd. UBS Group increased their price objective on shares of Vistra from $207.00 to $230.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Finally, The Goldman Sachs Group increased their price objective on shares of Vistra from $179.00 to $203.00 and gave the company a "neutral" rating in a research note on Wednesday, August 13th. Four equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $229.31.

Insiders Place Their Bets

In other Vistra news, CEO James A. Burke sold 19,612 shares of the firm's stock in a transaction dated Wednesday, October 22nd. The shares were sold at an average price of $188.30, for a total value of $3,692,939.60. Following the completion of the sale, the chief executive officer owned 292,642 shares in the company, valued at approximately $55,104,488.60. This trade represents a 6.28% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders have sold 654,583 shares of company stock valued at $134,542,882. Company insiders own 1.42% of the company's stock.

About Vistra

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.