PNC Financial Services Group Inc. Increases Stake in Vistra Corp. (NYSE:VST)

Key Points

• PNC Financial Services Group Inc. increased its stake in Vistra Corp. by 20.1% in Q1, acquiring a total of 36,084 shares worth approximately $4.24 million.
• Vistra recently announced a quarterly dividend of $0.226 per share, reflecting an increase from its previous dividend of $0.23, with a yield of 0.4%.
• Several analysts have issued new price targets for Vistra, with UBS Group raising its target to $230 and placing a "buy" rating on the stock.

PNC Financial Services Group Inc. raised its holdings in shares of Vistra Corp. (NYSE:VST - Free Report) by 20.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 36,084 shares of the company's stock after acquiring an additional 6,027 shares during the quarter. PNC Financial Services Group Inc.'s holdings in Vistra were worth $4,238,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of VST. HM Payson & Co. lifted its position in Vistra by 275.4% during the first quarter. HM Payson & Co. now owns 229 shares of the company's stock valued at $27,000 after purchasing an additional 168 shares in the last quarter. Ameriflex Group Inc. bought a new position in shares of Vistra in the fourth quarter worth about $32,000. Opal Wealth Advisors LLC bought a new position in shares of Vistra in the first quarter worth about $46,000. Golden State Wealth Management LLC lifted its position in shares of Vistra by 2,540.0% during the 1st quarter. Golden State Wealth Management LLC now owns 396 shares of the company's stock valued at $47,000 after buying an additional 381 shares in the last quarter. Finally, Compagnie Lombard Odier SCmA grew its stake in shares of Vistra by 53.9% during the 1st quarter. Compagnie Lombard Odier SCmA now owns 431 shares of the company's stock valued at $51,000 after acquiring an additional 151 shares during the period. Hedge funds and other institutional investors own 90.88% of the company's stock.

Vistra Trading Up 2.3%

Shares of VST stock opened at $205.39 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.77 and a debt-to-equity ratio of 6.53. The stock has a market capitalization of $69.69 billion, a price-to-earnings ratio of 32.29, a price-to-earnings-growth ratio of 2.44 and a beta of 1.30. Vistra Corp. has a 12-month low of $72.90 and a 12-month high of $216.85. The stock's 50-day moving average price is $187.98 and its 200-day moving average price is $156.24.

Vistra Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 19th will be paid a $0.226 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Friday, September 19th. This is a positive change from Vistra's previous quarterly dividend of $0.23. Vistra's dividend payout ratio is presently 14.15%.

Insiders Place Their Bets

In related news, Director John R. Sult sold 25,000 shares of the company's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $171.67, for a total transaction of $4,291,750.00. Following the sale, the director owned 75,946 shares of the company's stock, valued at $13,037,649.82. This represents a 24.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Scott B. Helm sold 50,000 shares of Vistra stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $172.75, for a total transaction of $8,637,500.00. Following the completion of the transaction, the director directly owned 255,192 shares of the company's stock, valued at $44,084,418. The trade was a 16.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 294,000 shares of company stock worth $47,461,490. Insiders own 1.42% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Raymond James Financial started 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 on the stock. Evercore ISI set a $192.00 price objective on shares of Vistra and gave the stock an "outperform" rating in a research note on Thursday, May 15th. Morgan Stanley lifted their target price on shares of Vistra from $178.00 to $186.00 and gave the company an "overweight" rating in a research note on Wednesday, June 18th. UBS Group increased their price target on Vistra from $207.00 to $230.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Finally, The Goldman Sachs Group boosted their price objective on Vistra from $134.00 to $164.00 and gave the company a "neutral" rating in a research report on Friday, May 23rd. Three equities research 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 company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $178.69.

About Vistra

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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