iA Global Asset Management Inc. Buys 19,063 Shares of Vistra Corp. (NYSE:VST)

Key Points

• iA Global Asset Management Inc. increased its holdings in Vistra Corp. by 63.7% in Q1, owning 49,008 shares valued at approximately $5.76 million.
• Vistra has recently announced a dividend increase, with a quarterly payment of $0.226 to be distributed on September 30th, up from the previous $0.23.
• Analysts have set new price targets for Vistra, with UBS increasing their target to $230.00 and Goldman Sachs to $164.00, reflecting a generally positive outlook on the stock.

iA Global Asset Management Inc. boosted its position in Vistra Corp. (NYSE:VST - Free Report) by 63.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 49,008 shares of the company's stock after acquiring an additional 19,063 shares during the period. iA Global Asset Management Inc.'s holdings in Vistra were worth $5,755,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of VST. Amalgamated Bank lifted its stake in Vistra by 1.9% in the first quarter. Amalgamated Bank now owns 73,908 shares of the company's stock worth $8,680,000 after acquiring an additional 1,387 shares during the period. Kingswood Wealth Advisors LLC purchased a new position in Vistra during the 1st quarter valued at $341,000. Dynamic Advisor Solutions LLC bought a new position in Vistra in the 1st quarter worth $432,000. Envestnet Asset Management Inc. raised its holdings in Vistra by 29.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 255,629 shares of the company's stock worth $30,021,000 after purchasing an additional 57,551 shares in the last quarter. Finally, Wealthcare Advisory Partners LLC lifted its position in shares of Vistra by 12.9% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 1,955 shares of the company's stock worth $230,000 after purchasing an additional 224 shares during the period. Hedge funds and other institutional investors own 90.88% of the company's stock.

Vistra Stock Performance

NYSE VST traded down $3.24 on Friday, hitting $202.35. 4,060,980 shares of the company traded hands, compared to its average volume of 5,319,267. The company has a current ratio of 0.86, a quick ratio of 0.77 and a debt-to-equity ratio of 6.53. The business's 50 day moving average price is $188.82 and its 200-day moving average price is $156.36. The company has a market capitalization of $68.66 billion, a price-to-earnings ratio of 31.82, a P/E/G ratio of 2.50 and a beta of 1.30. Vistra Corp. has a 52-week low of $72.90 and a 52-week high of $216.85.

Vistra Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 19th will be issued a $0.226 dividend. The ex-dividend date of this dividend is Friday, September 19th. This represents a $0.90 annualized dividend and a yield of 0.4%. This is a positive change from Vistra's previous quarterly dividend of $0.23. Vistra's payout ratio is currently 14.15%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on VST shares. Evercore ISI set a $192.00 price target on shares of Vistra and gave the company an "outperform" rating in a research report on Thursday, May 15th. Raymond James Financial initiated coverage on shares of Vistra in a research note on Friday, June 13th. They set a "strong-buy" rating and a $216.00 price objective on the stock. UBS Group raised their price target on Vistra from $207.00 to $230.00 and gave the company a "buy" rating in a report on Friday, July 25th. The Goldman Sachs Group raised their price target on shares of Vistra from $134.00 to $164.00 and gave the company a "neutral" rating in a research report on Friday, May 23rd. Finally, Jefferies Financial Group set a $241.00 target price on Vistra and gave the stock a "buy" rating in a research report on Friday. Three analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Vistra currently has a consensus rating of "Moderate Buy" and an average target price of $186.69.

Insider Buying and Selling

In other Vistra news, EVP Stephanie Zapata Moore sold 35,000 shares of Vistra stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $161.44, for a total transaction of $5,650,400.00. Following the transaction, the executive vice president owned 88,073 shares of the company's stock, valued at $14,218,505.12. The trade was a 28.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Scott A. Hudson sold 56,000 shares of the company's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $157.00, for a total transaction of $8,792,000.00. Following the completion of the transaction, the executive vice president owned 306,600 shares of the company's stock, valued at approximately $48,136,200. The trade was a 15.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 294,000 shares of company stock worth $47,461,490 in the last ninety days. Corporate insiders own 1.42% of the company's stock.

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.