Mackenzie Financial Corp Buys 23,118 Shares of Vistra Corp. (NYSE:VST)

Key Points

• Mackenzie Financial Corp increased its stake in Vistra Corp. by 78.4%, owning 52,614 shares worth approximately $6.18 million after acquiring an additional 23,118 shares.
• Insider sales included a total of 294,000 shares worth about $47.46 million over the last quarter, indicating a decrease in ownership among company executives.
• Vistra recently declared a quarterly dividend of $0.226 per share, marking an increase from its previous dividend of $0.23, with a yield of 0.4%.

Mackenzie Financial Corp raised its stake in shares of Vistra Corp. (NYSE:VST - Free Report) by 78.4% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 52,614 shares of the company's stock after buying an additional 23,118 shares during the quarter. Mackenzie Financial Corp's holdings in Vistra were worth $6,179,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in VST. HM Payson & Co. grew its holdings in shares of Vistra by 275.4% during the first quarter. HM Payson & Co. now owns 229 shares of the company's stock worth $27,000 after purchasing an additional 168 shares in the last quarter. Ameriflex Group Inc. bought a new stake in Vistra during the fourth quarter valued at approximately $32,000. Opal Wealth Advisors LLC purchased a new position in Vistra in the 1st quarter worth approximately $46,000. Golden State Wealth Management LLC grew its stake in Vistra by 2,540.0% in the 1st quarter. Golden State Wealth Management LLC now owns 396 shares of the company's stock worth $47,000 after buying an additional 381 shares in the last quarter. Finally, State of Wyoming bought a new position in shares of Vistra in the 4th quarter worth $58,000. Hedge funds and other institutional investors own 90.88% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Raymond James Financial initiated coverage on Vistra in a research note on Friday, June 13th. They issued a "strong-buy" rating and a $216.00 target price on the stock. UBS Group increased their price objective on Vistra from $207.00 to $230.00 and gave the company a "buy" rating in a research report on Friday, July 25th. The Goldman Sachs Group raised their price objective on Vistra from $134.00 to $164.00 and gave the company a "neutral" rating in a report on Friday, May 23rd. Morgan Stanley upped their target price on Vistra from $178.00 to $186.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 18th. Finally, 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. Three research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $178.69.

Vistra Trading Down 0.2%

Shares of Vistra stock traded down $0.48 during midday trading on Friday, reaching $208.06. 5,735,168 shares of the company's stock traded hands, compared to its average volume of 5,076,743. The stock has a 50 day moving average of $184.27 and a 200-day moving average of $155.02. Vistra Corp. has a 12 month low of $66.50 and a 12 month high of $213.05. The company has a market cap of $70.60 billion, a PE ratio of 32.71, a price-to-earnings-growth ratio of 2.53 and a beta of 1.30. The company has a debt-to-equity ratio of 6.53, a quick ratio of 0.77 and a current ratio of 0.86.

Vistra Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 19th will be issued a $0.226 dividend. This is a boost from Vistra's previous quarterly dividend of $0.23. The ex-dividend date is Friday, September 19th. This represents a $0.90 annualized dividend and a yield of 0.4%. Vistra's dividend payout ratio (DPR) is currently 14.15%.

Insiders Place Their Bets

In other Vistra news, EVP Carrie Lee Kirby sold 108,000 shares of the company's stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $156.98, for a total transaction of $16,953,840.00. Following the transaction, the executive vice president owned 218,239 shares in the company, valued at approximately $34,259,158.22. This represents a 33.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Scott A. Hudson sold 56,000 shares of the stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $157.00, for a total value of $8,792,000.00. Following the completion of the transaction, the executive vice president directly owned 306,600 shares of the company's stock, valued at $48,136,200. This represents a 15.44% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 294,000 shares of company stock worth $47,461,490. Company 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.