State of New Jersey Common Pension Fund D Lowers Stock Holdings in Vistra Corp. $VST

Key Points

• The State of New Jersey Common Pension Fund D reduced its stake in Vistra Corp. by 9.1%, selling 11,630 shares, and now holds 115,896 shares valued at approximately $13.6 million.
• Multiple institutional investors have recently increased their holdings, with significant boosts from companies like Legal Advantage Investments (up 102.4%) and Aberdeen Group (up 2.2%).
• Vistra Corp. announced a quarterly dividend increase to $0.226 per share, representing a 0.5% dividend yield, set to be paid on September 30th.

State of New Jersey Common Pension Fund D reduced its stake in Vistra Corp. (NYSE:VST - Free Report) by 9.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 115,896 shares of the company's stock after selling 11,630 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Vistra were worth $13,611,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Oak Grove Capital LLC raised its position in shares of Vistra by 0.5% in the 1st quarter. Oak Grove Capital LLC now owns 19,760 shares of the company's stock worth $2,321,000 after acquiring an additional 90 shares in the last quarter. American Century Companies Inc. grew its stake in Vistra by 1.5% in the first quarter. American Century Companies Inc. now owns 1,327,653 shares of the company's stock valued at $155,920,000 after acquiring an additional 19,679 shares during the period. Aberdeen Group plc increased its holdings in shares of Vistra by 2.2% during the first quarter. Aberdeen Group plc now owns 117,283 shares of the company's stock valued at $13,563,000 after acquiring an additional 2,484 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Vistra by 0.3% during the first quarter. Dimensional Fund Advisors LP now owns 4,190,462 shares of the company's stock valued at $492,102,000 after acquiring an additional 11,386 shares in the last quarter. Finally, Legal Advantage Investments Inc. raised its position in shares of Vistra by 102.4% during the first quarter. Legal Advantage Investments Inc. now owns 8,300 shares of the company's stock worth $975,000 after purchasing an additional 4,200 shares during the period. 90.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on VST shares. Jefferies Financial Group lifted their price target on shares of Vistra from $145.00 to $241.00 and gave the company a "buy" rating in a research report on Friday, August 8th. UBS Group raised their price objective on shares of Vistra from $207.00 to $230.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Evercore ISI set a $192.00 target price on shares of Vistra and gave the stock an "outperform" rating in a research report on Thursday, May 15th. Raymond James Financial began coverage on shares of Vistra in a research report on Friday, June 13th. They issued a "strong-buy" rating and a $216.00 price target on the stock. Finally, The Goldman Sachs Group lifted their price target on Vistra from $179.00 to $203.00 and gave the company a "neutral" rating in a research note on Wednesday, August 13th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $192.62.

Insider Transactions at Vistra

In related news, EVP Stephanie Zapata Moore sold 35,000 shares of Vistra stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $161.44, for a total value of $5,650,400.00. Following the completion of the sale, the executive vice president owned 88,073 shares of the company's stock, valued at approximately $14,218,505.12. This trade represents a 28.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Scott B. Helm sold 50,000 shares of the stock in a transaction dated 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 transaction, the director owned 255,192 shares of the company's stock, valued at $44,084,418. This represents a 16.38% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 110,000 shares of company stock worth $18,579,650. 1.42% of the stock is owned by company insiders.

Vistra Stock Down 2.8%

VST stock traded down $5.6390 during trading on Tuesday, reaching $193.3210. The stock had a trading volume of 3,353,058 shares, compared to its average volume of 4,959,081. The company has a quick ratio of 0.80, a current ratio of 0.90 and a debt-to-equity ratio of 6.58. The company has a market capitalization of $65.50 billion, a price-to-earnings ratio of 30.83, a P/E/G ratio of 2.29 and a beta of 1.30. Vistra Corp. has a one year low of $72.90 and a one year high of $216.85. The company's 50 day moving average is $193.06 and its two-hundred day moving average is $157.80.

Vistra (NYSE:VST - Get Free Report) last announced 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 business had revenue of $4.25 billion during the quarter, compared to analysts' expectations of $5.15 billion. Vistra had a return on equity of 108.41% and a net margin of 12.90%. Equities research analysts forecast that Vistra Corp. will post 7 EPS for the current year.

Vistra Increases Dividend

The company also recently declared 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 of this dividend is Friday, September 19th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 0.5%. This is a boost from Vistra's previous quarterly dividend of $0.23. Vistra's payout ratio is currently 14.35%.

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.