Patton Fund Management Inc. Decreases Holdings in Vistra Corp. $VST

Key Points

• Patton Fund Management Inc. significantly reduced its stake in Vistra Corp. (NYSE: VST) by 91.6% in the second quarter, now owning only 1,740 shares valued at approximately $337,000.
• Several hedge funds, including Dimensional Fund Advisors and Northern Trust, increased their holdings in Vistra during the same period, while 90.88% of the stock is currently owned by institutional investors.
• Analysts have mixed perspectives on Vistra's stock, with target prices ranging from $216.00 to $250.00 and a consensus rating of "Buy", despite a recent earnings miss.

Patton Fund Management Inc. cut its stake in shares of Vistra Corp. (NYSE:VST - Free Report) by 91.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,740 shares of the company's stock after selling 18,980 shares during the period. Patton Fund Management Inc.'s holdings in Vistra were worth $337,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its stake in Vistra by 0.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,190,462 shares of the company's stock valued at $492,102,000 after buying an additional 11,386 shares during the last quarter. Northern Trust Corp raised its holdings in Vistra by 1.9% in the 1st quarter. Northern Trust Corp now owns 3,083,842 shares of the company's stock worth $362,166,000 after purchasing an additional 57,358 shares during the period. Nuveen LLC bought a new position in Vistra in the 1st quarter worth $209,149,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Vistra by 8.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,470,680 shares of the company's stock worth $172,717,000 after purchasing an additional 118,230 shares during the period. Finally, American Century Companies Inc. raised its holdings in Vistra by 1.5% in the 1st quarter. American Century Companies Inc. now owns 1,327,653 shares of the company's stock worth $155,920,000 after purchasing an additional 19,679 shares during the period. 90.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on VST shares. Morgan Stanley raised their target price on Vistra from $207.00 to $223.00 and gave the stock an "overweight" rating in a report on Thursday. Wall Street Zen cut Vistra from a "hold" rating to a "sell" rating in a report on Friday, September 5th. Raymond James Financial started coverage on Vistra in a report on Friday, June 13th. They issued a "strong-buy" rating and a $216.00 target price on the stock. BMO Capital Markets raised their target price on Vistra from $191.00 to $229.00 and gave the stock an "outperform" rating in a report on Tuesday, August 12th. Finally, Daiwa Capital Markets raised Vistra from a "neutral" rating to a "buy" rating and set a $250.00 target price on the stock in a report on Wednesday, September 17th. Three research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $218.20.

Vistra Trading Up 2.8%

Shares of VST stock opened at $207.27 on Friday. The firm has a market capitalization of $70.23 billion, a PE ratio of 33.06, a PEG ratio of 3.15 and a beta of 1.33. The stock has a fifty day simple moving average of $199.88 and a two-hundred day simple moving average of $167.41. The company has a debt-to-equity ratio of 6.58, a quick ratio of 0.80 and a current ratio of 0.90. Vistra Corp. has a 52-week low of $90.51 and a 52-week high of $219.82.

Vistra (NYSE:VST - Get Free Report) last issued its quarterly earnings data 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 for the quarter, compared to analysts' expectations of $5.15 billion. Vistra had a net margin of 12.90% and a return on equity of 108.41%. On average, analysts predict that Vistra Corp. will post 7 EPS for the current fiscal year.

Vistra Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 19th will be given a dividend of $0.226 per share. The ex-dividend date is Friday, September 19th. This is a positive change from Vistra's previous quarterly dividend of $0.23. This represents a $0.90 dividend on an annualized basis and a dividend yield of 0.4%. Vistra's dividend payout ratio (DPR) is 14.35%.

Insider Buying and Selling at Vistra

In other news, CEO James A. Burke sold 43,074 shares of the firm's stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $208.75, for a total transaction of $8,991,697.50. Following the completion of the transaction, the chief executive officer owned 217,025 shares in the company, valued at $45,303,968.75. This trade represents a 16.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders sold a total of 276,319 shares of company stock worth $57,544,816 in the last ninety days. 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.

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