TD Asset Management Inc Trims Stock Position in Vistra Corp. (NYSE:VST)

Key Points

• TD Asset Management Inc has cut its stake in Vistra Corp. by 44.9%, selling 537,249 shares during the 1st quarter, leaving the firm with 659,009 shares valued at approximately $77 million.
• Following significant sales by insiders, including an EVP and a director, insiders have liquidated a total of 294,000 shares valued at nearly $47.5 million over the last three months.
• Vistra recently increased its quarterly dividend to $0.225 per share, marking a positive change from the previous rate and reflecting a payout ratio of 14.15%.

TD Asset Management Inc lessened its stake in shares of Vistra Corp. (NYSE:VST - Free Report) by 44.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 659,009 shares of the company's stock after selling 537,249 shares during the period. TD Asset Management Inc owned about 0.19% of Vistra worth $77,394,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of VST. Norges Bank purchased a new position in shares of Vistra in the fourth quarter worth about $409,087,000. Massachusetts Financial Services Co. MA grew its stake in Vistra by 63.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 6,260,363 shares of the company's stock valued at $863,116,000 after acquiring an additional 2,433,732 shares in the last quarter. Capital International Investors purchased a new position in Vistra during the fourth quarter valued at approximately $286,414,000. Palidye Holdings Caymans Ltd purchased a new position in Vistra during the fourth quarter valued at approximately $149,451,000. Finally, D1 Capital Partners L.P. purchased a new position in Vistra during the fourth quarter valued at approximately $92,649,000. Hedge funds and other institutional investors own 90.88% of the company's stock.

Insider Activity at Vistra

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 completion of the sale, the director directly owned 75,946 shares in the company, valued at $13,037,649.82. This represents a 24.77% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Stephanie Zapata Moore sold 35,000 shares of the company's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $161.44, for a total transaction of $5,650,400.00. Following the sale, the executive vice president owned 88,073 shares of the company's stock, valued at $14,218,505.12. This represents a 28.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 294,000 shares of company stock worth $47,461,490 over the last ninety days. Insiders own 1.42% of the company's stock.

Vistra Trading Down 0.1%

Shares of VST traded down $0.11 during mid-day trading on Thursday, reaching $206.94. The company's stock had a trading volume of 3,222,319 shares, compared to its average volume of 7,355,442. The stock has a market cap of $70.22 billion, a PE ratio of 32.60, a P/E/G ratio of 2.41 and a beta of 1.26. The company has a current ratio of 0.86, a quick ratio of 0.77 and a debt-to-equity ratio of 6.53. Vistra Corp. has a 52 week low of $66.50 and a 52 week high of $213.05. The company's fifty day moving average price is $182.20 and its two-hundred day moving average price is $154.66.

Vistra Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 19th will be issued a dividend of $0.226 per share. 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 yield of 0.44%. The ex-dividend date of this dividend is Friday, September 19th. Vistra's dividend payout ratio is currently 14.15%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Raymond James Financial assumed coverage on shares of Vistra in a research note on Friday, June 13th. They set a "strong-buy" rating and a $216.00 price objective for the company. The Goldman Sachs Group boosted their price target on shares of Vistra from $134.00 to $164.00 and gave the stock a "neutral" rating in a research note on Friday, May 23rd. UBS Group boosted their price target on shares of Vistra from $207.00 to $230.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Evercore ISI set a $192.00 price target on shares of Vistra and gave the stock an "outperform" rating in a research note on Thursday, May 15th. Finally, Morgan Stanley boosted their price target on shares of Vistra from $178.00 to $186.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 18th. Three research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $178.69.

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.