Neuberger Berman Group LLC Sells 477,058 Shares of Vistra Corp. (NYSE:VST)

Key Points

• Neuberger Berman Group LLC reduced its holdings in Vistra Corp. by 18.4% in the first quarter, selling 477,058 shares, and now owns 2,117,516 shares valued at approximately $249 million.
• Insider transactions included Director Scott B. Helm selling 50,000 shares for about $8.64 million, while Director John R. Sult sold 25,000 shares worth approximately $4.29 million, indicating a significant decrease in their positions.
• Vistra Corp. announced an increase in its quarterly dividend to $0.226 per share, up from $0.23, and plans to pay this to stockholders on September 30th.

Neuberger Berman Group LLC cut its holdings in Vistra Corp. (NYSE:VST - Free Report) by 18.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,117,516 shares of the company's stock after selling 477,058 shares during the quarter. Neuberger Berman Group LLC owned 0.62% of Vistra worth $249,012,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in VST. Capital International Investors bought a new position in Vistra in the 4th quarter valued at approximately $286,414,000. Nuveen LLC bought a new position in Vistra in the 1st quarter valued at approximately $209,149,000. Palidye Holdings Caymans Ltd bought a new position in Vistra in the 4th quarter valued at approximately $149,451,000. D1 Capital Partners L.P. bought a new position in Vistra in the 4th quarter valued at approximately $92,649,000. Finally, Bridgewater Associates LP lifted its position in Vistra by 58.9% in the 4th quarter. Bridgewater Associates LP now owns 1,773,499 shares of the company's stock valued at $244,512,000 after acquiring an additional 657,217 shares in the last quarter. 90.88% of the stock is owned by institutional investors.

Insider Transactions at Vistra

In other Vistra news, Director Scott B. Helm sold 50,000 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $172.75, for a total value of $8,637,500.00. Following the completion of the sale, the director owned 255,192 shares in the company, valued at approximately $44,084,418. This represents a 16.38% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director John R. Sult sold 25,000 shares of the stock in a transaction on Friday, June 6th. The stock was sold at an average price of $171.67, for a total value of $4,291,750.00. Following the completion of the sale, the director owned 75,946 shares of the company's stock, valued at $13,037,649.82. The trade was a 24.77% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 294,000 shares of company stock worth $47,461,490 over the last three months. 1.42% of the stock is currently owned by insiders.

Vistra Trading Up 4.7%

NYSE:VST opened at $209.51 on Wednesday. The company has a debt-to-equity ratio of 6.58, a current ratio of 0.90 and a quick ratio of 0.77. The firm has a market capitalization of $71.09 billion, a price-to-earnings ratio of 33.41, a price-to-earnings-growth ratio of 2.43 and a beta of 1.30. Vistra Corp. has a one year low of $72.90 and a one year high of $216.85. The business has a fifty day moving average price of $190.14 and a 200-day moving average price of $156.34.

Vistra (NYSE:VST - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $1.01 EPS 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 analysts' expectations of $5.15 billion. Vistra had a return on equity of 108.41% and a net margin of 12.90%. Sell-side analysts forecast that Vistra Corp. will post 7 EPS for the current year.

Vistra Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 19th will be paid a $0.226 dividend. This is a positive change 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 dividend yield of 0.4%. Vistra's dividend payout ratio (DPR) is currently 14.35%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Jefferies Financial Group set a $241.00 target price on shares of Vistra and gave the company a "buy" rating in a research note on Friday, August 8th. Raymond James Financial assumed coverage on shares of Vistra in a research note on Friday, June 13th. They set a "strong-buy" rating and a $216.00 target price for the company. BMO Capital Markets reiterated an "outperform" rating and set a $229.00 target price (up from $191.00) on shares of Vistra in a research note on Tuesday. The Goldman Sachs Group boosted their target price on shares of Vistra from $134.00 to $164.00 and gave the company a "neutral" rating in a research note on Friday, May 23rd. Finally, Evercore ISI set a $192.00 target price on shares of Vistra and gave the company an "outperform" rating in a research note on Thursday, May 15th. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $189.62.

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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