Mirae Asset Global Investments Co. Ltd. Makes New Investment in Vistra Corp. $VST

Key Points

• Mirae Asset Global Investments acquired 208,406 Vistra shares worth approximately $28.8 million, giving it a 0.06% stake. Institutional investors and hedge funds collectively own 90.88% of Vistra.
• Wall Street maintains a generally positive view, with a consensus rating of “Moderate Buy” and an average price target of $202.43, despite several analysts recently lowering their targets.
• Vistra’s shares opened at $134.37, near their 52-week low, after the company missed quarterly earnings and revenue estimates. The company increased its quarterly dividend to $0.231 per share, implying a 0.7% yield.

Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Vistra Corp. (NYSE:VST - Free Report) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 208,406 shares of the company's stock, valued at approximately $28,833,000. Mirae Asset Global Investments Co. Ltd. owned 0.06% of Vistra at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in VST. BlackRock Inc. purchased a new stake in Vistra in the second quarter valued at $4,610,496,000. State Street Corp raised its stake in shares of Vistra by 0.5% during the 2nd quarter. State Street Corp now owns 16,850,452 shares of the company's stock valued at $2,672,987,000 after buying an additional 79,972 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Vistra by 1.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,436,880 shares of the company's stock valued at $516,616,000 after buying an additional 32,982 shares during the last quarter. Bank of America Corp DE purchased a new position in shares of Vistra during the 2nd quarter valued at about $468,354,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Vistra in the 2nd quarter valued at about $381,938,000. 90.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Vistra

In other Vistra news, CEO James Burke acquired 4,465 shares of the company's stock in a transaction on Tuesday, September 1st. The shares were bought at an average cost of $135.25 per share, with a total value of $603,891.25. Following the completion of the acquisition, the chief executive officer owned 1,146,352 shares in the company, valued at approximately $155,044,108. This trade represents a 0.39% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Scott A. Hudson sold 44,444 shares of the business's stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $151.82, for a total value of $6,747,488.08. Following the completion of the sale, the executive vice president owned 331,137 shares of the company's stock, valued at $50,273,219.34. This trade represents a 11.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.92% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on VST shares. Scotiabank lowered their target price on Vistra from $207.00 to $189.00 and set a "sector outperform" rating on the stock in a research note on Wednesday, October 28th. Canadian Imperial Bank of Commerce dropped their target price on Vistra from $201.00 to $181.00 and set an "outperformer" rating on the stock in a report on Wednesday, October 28th. Morgan Stanley reduced their price target on Vistra from $227.00 to $226.00 and set an "overweight" rating for the company in a research report on Wednesday, October 21st. Raymond James Financial set a $176.00 price target on Vistra in a report on Wednesday, October 21st. Finally, BMO Capital Markets decreased their price target on Vistra from $231.00 to $210.00 and set an "outperform" rating for the company in a report on Monday, October 5th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $202.43.

Vistra Stock Down 2.9%

VST opened at $134.37 on Tuesday. Vistra Corp. has a fifty-two week low of $132.66 and a fifty-two week high of $196.80. The company has a debt-to-equity ratio of 5.87, a quick ratio of 0.87 and a current ratio of 0.97. The company has a fifty day moving average of $145.03 and a two-hundred day moving average of $153.52. The stock has a market capitalization of $45.10 billion, a price-to-earnings ratio of 22.70 and a beta of 1.38.

Vistra (NYSE:VST - Get Free Report) last issued its quarterly earnings data on Friday, August 7th. The company reported $0.76 earnings per share for the quarter, missing analysts' consensus estimates of $1.61 by ($0.85). Vistra had a return on equity of 108.68% and a net margin of 11.55%. The firm had revenue of $4.02 billion during the quarter, compared to analyst estimates of $5.46 billion. On average, research analysts expect that Vistra Corp. will post 9.13 earnings per share for the current year.

Vistra Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Tuesday, December 22nd will be paid a $0.2310 dividend. The ex-dividend date is Tuesday, December 22nd. This represents a $0.92 annualized dividend and a dividend yield of 0.7%. This is a boost from Vistra's previous quarterly dividend of $0.23. Vistra's dividend payout ratio (DPR) is presently 15.54%.

Vistra Profile

Vistra Corp. NYSE: VST is an integrated energy company based in Irving, Texas. The company operates across electricity generation, power distribution support, energy marketing and retail electricity sales, serving residential, commercial and industrial customers primarily in the United States.

Vistra owns and operates a diverse portfolio of power generation and energy storage facilities. Its assets include natural gas, nuclear, coal and renewable generation, as well as battery storage projects.

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