New York State Teachers Retirement System Increases Stake in Vistra Corp. $VST

Key Points

• The New York State Teachers Retirement System has increased its stake in Vistra Corp. by 0.9% during the second quarter, owning approximately 295,515 shares valued at $57,274,000.
• Vistra recently announced a quarterly dividend of $0.226, marking an increase from its previous dividend, yielding 0.4% annually.
• Analysts have given Vistra Corp. a consensus rating of Buy, with a target price of around $229.31, reflecting positive sentiment for the company's stock performance.

New York State Teachers Retirement System increased its position in Vistra Corp. (NYSE:VST - Free Report) by 0.9% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 295,515 shares of the company's stock after acquiring an additional 2,760 shares during the quarter. New York State Teachers Retirement System owned about 0.09% of Vistra worth $57,274,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Nuveen LLC purchased a new position in Vistra during the 1st quarter valued at about $209,149,000. Assenagon Asset Management S.A. grew its holdings in Vistra by 2,341.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 865,562 shares of the company's stock valued at $167,755,000 after buying an additional 830,111 shares in the last quarter. Fred Alger Management LLC grew its holdings in Vistra by 102.5% during the 1st quarter. Fred Alger Management LLC now owns 973,339 shares of the company's stock valued at $114,309,000 after buying an additional 492,765 shares in the last quarter. 140 Summer Partners LP purchased a new position in Vistra during the 1st quarter valued at about $56,876,000. Finally, Hsbc Holdings PLC grew its holdings in Vistra by 52.2% during the 1st quarter. Hsbc Holdings PLC now owns 943,057 shares of the company's stock valued at $109,761,000 after buying an additional 323,264 shares in the last quarter. Hedge funds and other institutional investors own 90.88% of the company's stock.

Vistra Stock Performance

NYSE:VST opened at $210.20 on Friday. The business has a 50 day moving average of $200.60 and a 200 day moving average of $174.96. The company has a market capitalization of $71.22 billion, a price-to-earnings ratio of 33.52, a PEG ratio of 2.99 and a beta of 1.33. Vistra Corp. has a 1-year low of $90.51 and a 1-year high of $219.82. The company has a debt-to-equity ratio of 6.58, a current ratio of 0.90 and a quick ratio of 0.80.

Vistra (NYSE:VST - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $1.01 earnings per share for the quarter, missing analysts' consensus estimates of $1.63 by ($0.62). The firm had revenue of $4.25 billion during 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%. On average, sell-side analysts predict that Vistra Corp. will post 7 earnings per share 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%.

Insiders Place Their Bets

In related news, CEO James A. Burke sold 21,370 shares of the business's stock in a transaction that occurred on Tuesday, October 14th. The stock was sold at an average price of $205.58, for a total value of $4,393,244.60. Following the completion of the sale, the chief executive officer owned 277,315 shares in the company, valued at $57,010,417.70. The trade was a 7.15% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In the last ninety days, insiders sold 547,510 shares of company stock valued at $112,585,800. Insiders own 1.42% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on VST. Scotiabank began coverage on Vistra in a report on Monday, September 22nd. They set a "sector outperform" rating and a $256.00 target price for the company. Jefferies Financial Group reiterated a "hold" rating and set a $230.00 price target (down previously from $241.00) on shares of Vistra in a research report on Monday, September 22nd. Melius initiated coverage on Vistra in a research report on Wednesday, August 20th. They set a "buy" rating and a $295.00 price target for the company. Daiwa America upgraded Vistra from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, September 17th. Finally, Cowen initiated coverage on Vistra in a research report on Wednesday. They set a "buy" rating for the company. Three research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $229.31.

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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