Fulton Bank N.A. Invests $391,000 in Vistra Corp. $VST

Key Points

• Fulton Bank N.A. has acquired a new position in Vistra Corp. by purchasing 2,016 shares valued at approximately $391,000 in the 2nd quarter.
• Vistra recently announced an increase in its quarterly dividend to $0.226 per share, which is set to be paid on September 30th.
• Analysts have varied opinions on Vistra, with several firms issuing upgrades and target prices ranging from $203.00 to $250.00, indicating strong investor interest.

Fulton Bank N.A. acquired a new position in shares of Vistra Corp. (NYSE:VST - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,016 shares of the company's stock, valued at approximately $391,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Amalgamated Bank grew its stake in shares of Vistra by 1.9% during the 1st quarter. Amalgamated Bank now owns 73,908 shares of the company's stock valued at $8,680,000 after buying an additional 1,387 shares during the period. Kingswood Wealth Advisors LLC purchased a new stake in shares of Vistra during the 1st quarter valued at $341,000. Dynamic Advisor Solutions LLC purchased a new stake in shares of Vistra during the 1st quarter valued at $432,000. Peak Financial Advisors LLC acquired a new position in shares of Vistra during the 2nd quarter valued at $547,000. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of Vistra by 29.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 255,629 shares of the company's stock valued at $30,021,000 after acquiring an additional 57,551 shares in the last quarter. 90.88% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

VST has been the topic of several recent research reports. The Goldman Sachs Group lifted their target price on shares of Vistra from $179.00 to $203.00 and gave the company a "neutral" rating in a report on Wednesday, August 13th. Scotiabank initiated coverage on shares of Vistra in a report on Monday. They set a "sector outperform" rating and a $256.00 target price on the stock. Melius Research upgraded shares of Vistra to a "strong-buy" rating in a report on Wednesday, August 20th. Wall Street Zen lowered shares of Vistra from a "hold" rating to a "sell" rating in a report on Friday, September 5th. Finally, Morgan Stanley set a $207.00 target price on shares of Vistra and gave the company an "overweight" rating in a report on Thursday, August 21st. Three research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $213.73.

Insider Buying and Selling at Vistra

In related news, CEO James A. Burke sold 21,361 shares of the business's stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $212.56, for a total transaction of $4,540,494.16. Following the completion of the sale, the chief executive officer owned 227,968 shares of the company's stock, valued at $48,456,878.08. This represents a 8.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders have sold 148,121 shares of company stock worth $30,849,036. 1.42% of the stock is owned by corporate insiders.

Vistra Stock Up 3.1%

VST stock traded up $6.60 during trading on Monday, reaching $217.88. The stock had a trading volume of 4,803,841 shares, compared to its average volume of 6,785,088. The firm has a fifty day moving average price of $198.11 and a 200 day moving average price of $164.87. The company has a market capitalization of $73.82 billion, a P/E ratio of 34.75, a PEG ratio of 3.30 and a beta of 1.33. Vistra Corp. has a 1-year low of $90.51 and a 1-year high of $219.82. The company has a current ratio of 0.90, a quick ratio of 0.80 and a debt-to-equity ratio of 6.58.

Vistra (NYSE:VST - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $1.01 earnings per share for the quarter, missing the consensus estimate of $1.63 by ($0.62). The company had revenue of $4.25 billion during the quarter, compared to the consensus estimate of $5.15 billion. Vistra had a return on equity of 108.41% and a net margin of 12.90%. On average, equities analysts anticipate that Vistra Corp. will post 7 earnings per share for the current year.

Vistra Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 19th will be given a dividend of $0.226 per share. The ex-dividend date of this dividend is Friday, September 19th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 0.4%. This is a boost from Vistra's previous quarterly dividend of $0.23. Vistra's payout ratio is currently 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.