Grassi Investment Management Acquires 1,745 Shares of Vistra Corp. $VST

Key Points

• Grassi Investment Management increased its stake in Vistra Corp. by 14% in Q2 2023, acquiring an additional 1,745 shares, bringing its total to 14,220 shares valued at approximately $2.76 million.
• Vistra recently reported quarterly earnings that missed expectations, with $1.01 earnings per share against a consensus estimate of $1.63.
• The company announced a dividend increase to $0.226 per share, marking an annualized yield of 0.4%, up from the previous $0.23 per share.

Grassi Investment Management lifted its stake in Vistra Corp. (NYSE:VST - Free Report) by 14.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,220 shares of the company's stock after acquiring an additional 1,745 shares during the period. Grassi Investment Management's holdings in Vistra were worth $2,756,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Segment Wealth Management LLC boosted its holdings in shares of Vistra by 36.0% in the second quarter. Segment Wealth Management LLC now owns 5,914 shares of the company's stock worth $1,146,000 after acquiring an additional 1,566 shares during the period. Precedent Wealth Partners LLC bought a new position in Vistra in the 2nd quarter worth about $269,000. Vaughan Nelson Investment Management L.P. boosted its stake in Vistra by 67.6% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 212,411 shares of the company's stock worth $41,167,000 after purchasing an additional 85,664 shares during the period. Fairvoy Private Wealth LLC boosted its stake in Vistra by 1.4% in the 2nd quarter. Fairvoy Private Wealth LLC now owns 5,718 shares of the company's stock worth $1,108,000 after purchasing an additional 79 shares during the period. Finally, Ameritas Advisory Services LLC bought a new position in shares of Vistra in the second quarter valued at approximately $217,000. 90.88% of the stock is owned by institutional investors.

Vistra Stock Performance

NYSE VST opened at $202.25 on Friday. The company has a debt-to-equity ratio of 6.58, a quick ratio of 0.80 and a current ratio of 0.90. The company has a fifty day moving average of $200.57 and a 200-day moving average of $170.06. Vistra Corp. has a 52-week low of $90.51 and a 52-week high of $219.82. The company has a market capitalization of $68.53 billion, a P/E ratio of 32.26, a P/E/G ratio of 3.03 and a beta of 1.33.

Vistra (NYSE:VST - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $1.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.63 by ($0.62). The firm had revenue of $4.25 billion for 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%. As a group, equities research analysts predict that Vistra Corp. will post 7 EPS for the current fiscal year.

Vistra Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Friday, September 19th were given a $0.226 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Friday, September 19th. This is a positive change from Vistra's previous quarterly dividend of $0.23. Vistra's dividend payout ratio is presently 14.35%.

Wall Street Analysts Forecast Growth

VST has been the subject of a number of analyst reports. Morgan Stanley raised their price objective on shares of Vistra from $207.00 to $223.00 and gave the company an "overweight" rating in a research report on Thursday, September 25th. Daiwa America raised shares of Vistra from a "hold" rating to a "strong-buy" rating in a report on Wednesday, September 17th. The Goldman Sachs Group lifted their price objective on Vistra from $179.00 to $203.00 and gave the company a "neutral" rating in a research note on Wednesday, August 13th. JPMorgan Chase & Co. lifted their price objective on Vistra from $227.00 to $248.00 and gave the company an "overweight" rating in a research note on Wednesday, September 24th. Finally, Jefferies Financial Group reissued a "hold" rating and set a $230.00 price objective (down previously from $241.00) on shares of Vistra in a research note on Monday, September 22nd. Three research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Vistra presently has a consensus rating of "Buy" and a consensus price target of $224.21.

Insider Buying and Selling at Vistra

In other news, CEO James A. Burke sold 19,605 shares of the business's stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $194.78, for a total value of $3,818,661.90. Following the completion of the sale, the chief executive officer directly owned 253,815 shares in the company, valued at approximately $49,438,085.70. The trade was a 7.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last three months, insiders have sold 358,274 shares of company stock valued at $73,886,457. Insiders own 1.42% of the company's stock.

Vistra Company 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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