Rubric Capital Management LP Sells 500,000 Shares of Vistra Corp. $VST

Key Points

• Rubric Capital Management cut its Vistra stake by 25%, selling 500,000 shares in the first quarter and retaining 1.5 million shares worth approximately $225.5 million, or 2.4% of its portfolio.
• Vistra insiders sold 41,588 shares worth about $6.7 million during the past quarter, while institutional investors and hedge funds collectively own 90.88% of the company.
• Analysts maintain a broadly positive outlook, with Vistra holding a consensus “Buy” rating and an average price target of $230.12. The company also exceeded quarterly earnings expectations, reporting $2.87 in EPS versus the $1.32 consensus estimate.

Rubric Capital Management LP reduced its position in shares of Vistra Corp. (NYSE:VST - Free Report) by 25.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,500,000 shares of the company's stock after selling 500,000 shares during the period. Vistra comprises approximately 2.4% of Rubric Capital Management LP's portfolio, making the stock its 8th largest position. Rubric Capital Management LP owned approximately 0.44% of Vistra worth $225,495,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in Vistra during the 4th quarter worth about $25,000. Mcguire Capital Advisors Inc. purchased a new position in shares of Vistra in the 4th quarter valued at about $28,000. Kemnay Advisory Services Inc. purchased a new position in shares of Vistra in the 4th quarter valued at about $30,000. Strive Financial Group LLC acquired a new stake in shares of Vistra during the 4th quarter worth about $33,000. Finally, Salomon & Ludwin LLC raised its position in shares of Vistra by 74.8% during the 4th quarter. Salomon & Ludwin LLC now owns 215 shares of the company's stock worth $35,000 after acquiring an additional 92 shares in the last quarter. Institutional investors and hedge funds own 90.88% of the company's stock.

Insider Buying and Selling at Vistra

In other Vistra news, Director Paul M. Barbas sold 244 shares of the firm's stock in a transaction on Monday, June 15th. The shares were sold at an average price of $153.00, for a total transaction of $37,332.00. Following the transaction, the director directly owned 53,006 shares of the company's stock, valued at approximately $8,109,918. This trade represents a 0.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Scott B. Helm sold 25,000 shares of the company's stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $160.00, for a total transaction of $4,000,000.00. Following the completion of the sale, the director directly owned 232,200 shares of the company's stock, valued at $37,152,000. The trade was a 9.72% 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 have sold 41,588 shares of company stock worth $6,739,227 in the last quarter. 0.92% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Sanford C. Bernstein set a $187.00 price target on Vistra and gave the company an "outperform" rating in a report on Tuesday, June 16th. TD Cowen reduced their price objective on shares of Vistra from $230.00 to $222.00 and set a "buy" rating for the company in a research report on Monday. Seaport Research Partners restated a "buy" rating and issued a $230.00 target price on shares of Vistra in a report on Monday, June 15th. Zacks Research raised shares of Vistra from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 20th. Finally, Weiss Ratings lowered shares of Vistra from a "hold (c+)" rating to a "hold (c)" rating in a research note on Thursday, July 16th. Three analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Vistra currently has a consensus rating of "Buy" and an average price target of $230.12.

Vistra Trading Down 3.8%

NYSE:VST opened at $157.09 on Tuesday. The stock's 50 day moving average price is $156.46 and its 200 day moving average price is $158.35. The company has a market capitalization of $52.97 billion, a PE ratio of 26.31 and a beta of 1.40. The company has a quick ratio of 0.79, a current ratio of 0.90 and a debt-to-equity ratio of 5.51. Vistra Corp. has a 52-week low of $132.66 and a 52-week high of $219.82.

Vistra (NYSE:VST - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported $2.87 EPS for the quarter, topping the consensus estimate of $1.32 by $1.55. Vistra had a return on equity of 105.64% and a net margin of 11.52%.The company had revenue of $5.64 billion for the quarter, compared to analyst estimates of $5.22 billion. On average, research analysts anticipate that Vistra Corp. will post 9.52 EPS for the current year.

Vistra Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 22nd were paid a dividend of $0.229 per share. The ex-dividend date was Monday, June 22nd. This represents a $0.92 dividend on an annualized basis and a yield of 0.6%. This is an increase from Vistra's previous quarterly dividend of $0.23. Vistra's dividend payout ratio (DPR) is currently 15.41%.

Vistra Profile

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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