Fred Alger Management LLC Reduces Stock Position in Vistra Corp. $VST

Key Points

• Fred Alger Management LLC cut its Vistra position by 31.9% in the fourth quarter, selling 444,767 shares and leaving it with 949,840 shares worth about $153.2 million.
• Vistra reported better-than-expected quarterly results, earning $2.87 per share versus the $1.32 estimate and bringing in $5.64 billion in revenue, above forecasts.
• The company also raised its quarterly dividend to $0.229 per share, and Wall Street remains upbeat with a consensus Buy rating and average price target of $230.44.

Fred Alger Management LLC reduced its holdings in Vistra Corp. (NYSE:VST - Free Report) by 31.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 949,840 shares of the company's stock after selling 444,767 shares during the period. Vistra makes up 0.6% of Fred Alger Management LLC's portfolio, making the stock its 29th largest holding. Fred Alger Management LLC owned approximately 0.28% of Vistra worth $153,238,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Pinpoint Asset Management Singapore Pte. Ltd. purchased a new position in shares of Vistra in the 3rd quarter worth $28,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new position in shares of Vistra in the 4th quarter worth $25,000. Triumph Capital Management purchased a new position in shares of Vistra in the 3rd quarter worth $38,000. Strive Asset Management LLC purchased a new position in shares of Vistra in the 3rd quarter worth $38,000. Finally, IFC & Insurance Marketing Inc. purchased a new position in shares of Vistra in the 4th quarter worth $35,000. 90.88% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Vistra

In related news, CAO Margaret Montemayor sold 4,600 shares of Vistra stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $160.00, for a total transaction of $736,000.00. Following the completion of the sale, the chief accounting officer owned 9,760 shares in the company, valued at $1,561,600. This trade represents a 32.03% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Paul M. Barbas sold 244 shares of Vistra stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $153.00, for a total transaction of $37,332.00. Following the sale, the director owned 53,006 shares of the company's stock, valued at $8,109,918. The trade was a 0.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 10,088 shares of company stock valued at $1,634,227 in the last quarter. 0.92% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on VST shares. Wells Fargo & Company dropped their price objective on shares of Vistra from $236.00 to $234.00 and set an "overweight" rating for the company in a research note on Friday, February 27th. TD Cowen dropped their price objective on shares of Vistra from $253.00 to $230.00 and set a "buy" rating for the company in a research note on Monday, May 4th. Weiss Ratings raised shares of Vistra from a "hold (c)" rating to a "hold (c+)" rating in a research note on Monday, May 11th. Raymond James Financial set a $208.00 target price on shares of Vistra in a report on Monday, April 27th. Finally, Morgan Stanley restated an "overweight" rating and issued a $212.00 target price on shares of Vistra in a report on Thursday, May 21st. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $230.44.

Vistra Price Performance

Vistra stock opened at $158.53 on Wednesday. The firm has a 50-day moving average price of $153.72 and a 200-day moving average price of $159.85. The firm has a market capitalization of $53.45 billion, a PE ratio of 26.55 and a beta of 1.40. 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.

Vistra (NYSE:VST - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported $2.87 earnings per share for the quarter, beating analysts' consensus estimates of $1.32 by $1.55. Vistra had a net margin of 11.52% and a return on equity of 105.64%. The company had revenue of $5.64 billion during the quarter, compared to analyst estimates of $5.22 billion. As a group, equities research analysts forecast that Vistra Corp. will post 9.31 EPS for the current year.

Vistra Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 22nd will be issued a dividend of $0.229 per share. This represents a $0.92 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Monday, June 22nd. This is a positive change from Vistra's previous quarterly dividend of $0.23. Vistra's dividend payout ratio (DPR) is 15.24%.

Vistra Profile

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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