Pictet Asset Management Holding SA Raises Stock Position in Vistra Corp. $VST

Key Points

• Pictet Asset Management increased its Vistra stake by 9.6% in the first quarter, buying 121,253 additional shares and bringing its total holding to 1,388,586 shares worth about $208.7 million.
• Vistra reported strong quarterly results, posting $2.87 EPS versus the $1.32 estimate and revenue of $5.64 billion, both ahead of expectations.
• The company raised its quarterly dividend to $0.229 per share and continues to draw bullish analyst sentiment, with a consensus Buy rating and average price target of $230.31.

Pictet Asset Management Holding SA boosted its position in Vistra Corp. (NYSE:VST - Free Report) by 9.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,388,586 shares of the company's stock after purchasing an additional 121,253 shares during the quarter. Pictet Asset Management Holding SA owned about 0.41% of Vistra worth $208,746,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank purchased a new stake in shares of Vistra in the fourth quarter worth $746,729,000. Payden & Rygel grew its position in Vistra by 3,118.2% during the fourth quarter. Payden & Rygel now owns 35,400 shares of the company's stock worth $5,711,000 after buying an additional 34,300 shares in the last quarter. Signature Estate & Investment Advisors LLC purchased a new position in Vistra during the fourth quarter worth about $29,875,000. Legal & General Group Plc increased its stake in Vistra by 12.2% in the 4th quarter. Legal & General Group Plc now owns 1,768,694 shares of the company's stock worth $285,343,000 after acquiring an additional 192,274 shares during the last quarter. Finally, Intech Investment Management LLC increased its stake in Vistra by 34.4% in the 4th quarter. Intech Investment Management LLC now owns 188,921 shares of the company's stock worth $30,479,000 after acquiring an additional 48,378 shares during the last quarter. 90.88% of the stock is currently owned by hedge funds and other institutional investors.

Vistra Trading Down 2.4%

Shares of VST stock opened at $163.69 on Friday. The business has a 50-day moving average price of $154.82 and a two-hundred day moving average price of $159.37. Vistra Corp. has a 12-month low of $132.66 and a 12-month high of $219.82. The company has a quick ratio of 0.79, a current ratio of 0.90 and a debt-to-equity ratio of 5.51. The firm has a market cap of $55.19 billion, a P/E ratio of 27.42 and a beta of 1.40.

Vistra (NYSE:VST - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported $2.87 earnings per share for the quarter, beating analysts' consensus estimates of $1.32 by $1.55. The company had revenue of $5.64 billion for the quarter, compared to analysts' expectations of $5.22 billion. Vistra had a return on equity of 105.64% and a net margin of 11.52%. Equities analysts anticipate that Vistra Corp. will post 9.52 EPS for the current fiscal year.

Vistra Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd will be issued a $0.229 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Monday, June 22nd. This is a positive change from Vistra's previous quarterly dividend of $0.23. Vistra's dividend payout ratio (DPR) is presently 15.41%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on VST shares. Seaport Research Partners reaffirmed a "buy" rating and issued a $230.00 price target on shares of Vistra in a report on Monday, June 15th. Sanford C. Bernstein set a $187.00 price objective on shares of Vistra and gave the stock an "outperform" rating in a research report on Tuesday, June 16th. JPMorgan Chase & Co. lowered their target price on shares of Vistra from $240.00 to $231.00 and set an "overweight" rating on the stock in a research note on Thursday, April 30th. BMO Capital Markets reiterated an "outperform" rating and set a $241.00 target price on shares of Vistra in a research report on Monday, March 2nd. Finally, Weiss Ratings raised shares of Vistra from a "hold (c)" rating to a "hold (c+)" rating in a research note on Monday, May 11th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $230.31.

Insider Buying and Selling at Vistra

In related news, Director John R. Sult sold 6,500 shares of the stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $170.00, for a total transaction of $1,105,000.00. Following the transaction, the director owned 70,714 shares of the company's stock, valued at approximately $12,021,380. This trade represents a 8.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Paul M. Barbas sold 244 shares of the business's stock in a transaction on Monday, June 15th. The stock was sold at an average price of $153.00, for a total transaction of $37,332.00. Following the completion of the sale, the director directly owned 53,006 shares of the company's stock, valued at $8,109,918. This represents a 0.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 41,588 shares of company stock worth $6,739,227 over the last 90 days. Company insiders own 0.92% of the company's stock.

About Vistra

Vistra NYSE: VST is an integrated power company that develops, owns and operates electricity generation and retail businesses in the United States. The company's operations span wholesale power production—through a diversified fleet of thermal and lower‑carbon generation assets—and retail electricity supply to residential, commercial and industrial customers. Vistra serves organized wholesale markets and competitive retail markets, with a notable presence in Texas and other regional U.S. power markets.

Vistra's core activities include the ownership and operation of generation facilities, the commercial dispatch and optimization of those assets into wholesale markets, and the sale of electricity and related services to end-use customers through its retail brands.

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