Truist Financial Corp Acquires 2,853 Shares of Vistra Corp. $VST

Key Points

• Truist Financial Corp increased its stake in Vistra Corp by 13.5%, acquiring an additional 2,853 shares, bringing its total holdings to 24,003 shares worth approximately $4.65 million.
• Wall Street analysts have shown confidence in Vistra Corp, with multiple firms raising their target price and ratings, including a boost from BMO Capital Markets to $236.00 and JPMorgan Chase & Co. to $248.00.
• Vistra recently declared a quarterly dividend of $0.226 per share, increasing from the previous dividend of $0.23, representing a 0.5% annual yield.

Truist Financial Corp boosted its holdings in Vistra Corp. (NYSE:VST - Free Report) by 13.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 24,003 shares of the company's stock after acquiring an additional 2,853 shares during the period. Truist Financial Corp's holdings in Vistra were worth $4,652,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Amalgamated Bank lifted its stake in shares of Vistra by 1.9% during the 1st quarter. Amalgamated Bank now owns 73,908 shares of the company's stock worth $8,680,000 after buying an additional 1,387 shares during the last quarter. Kingswood Wealth Advisors LLC bought a new position in Vistra in the 1st quarter valued at about $341,000. Dynamic Advisor Solutions LLC acquired a new stake in Vistra during the first quarter worth approximately $432,000. Peak Financial Advisors LLC bought a new stake in shares of Vistra during the second quarter worth approximately $547,000. Finally, Envestnet Asset Management Inc. grew its position in shares of Vistra by 29.1% in the first quarter. Envestnet Asset Management Inc. now owns 255,629 shares of the company's stock valued at $30,021,000 after purchasing an additional 57,551 shares during the last quarter. 90.88% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on VST shares. BMO Capital Markets boosted their price target on Vistra from $229.00 to $236.00 and gave the company an "outperform" rating in a research note on Friday. The Goldman Sachs Group lifted their target price on Vistra from $179.00 to $203.00 and gave the stock a "neutral" rating in a report on Wednesday, August 13th. Raymond James Financial started coverage on shares of Vistra in a research note on Friday, June 13th. They issued a "strong-buy" rating and a $216.00 price target on the stock. Melius Research upgraded shares of Vistra to a "strong-buy" rating in a research note on Wednesday, August 20th. Finally, JPMorgan Chase & Co. increased their target price on shares of Vistra from $227.00 to $248.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 24th. Three equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Buy" and an average price target of $227.85.

Vistra Trading Down 0.4%

Shares of VST opened at $199.65 on Wednesday. The company has a debt-to-equity ratio of 6.58, a quick ratio of 0.80 and a current ratio of 0.90. Vistra Corp. has a 52-week low of $90.51 and a 52-week high of $219.82. The firm has a market cap of $67.65 billion, a price-to-earnings ratio of 31.84, a PEG ratio of 3.00 and a beta of 1.33. The business's fifty day moving average is $200.68 and its 200-day moving average is $171.29.

Vistra (NYSE:VST - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $1.01 earnings per share for the quarter, missing the consensus estimate of $1.63 by ($0.62). Vistra had a net margin of 12.90% and a return on equity of 108.41%. The business had revenue of $4.25 billion during the quarter, compared to analyst estimates of $5.15 billion. Equities analysts anticipate that Vistra Corp. will post 7 EPS for the current fiscal year.

Vistra Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Friday, September 19th were issued a dividend of $0.226 per share. This is a boost from Vistra's previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Friday, September 19th. This represents a $0.90 annualized dividend and a dividend yield of 0.5%. Vistra's payout ratio is presently 14.35%.

Insider Activity

In related news, CEO James A. Burke sold 21,371 shares of the company's stock in a transaction that occurred on Friday, October 3rd. The shares were sold at an average price of $204.82, for a total transaction of $4,377,208.22. Following the completion of the transaction, the chief executive officer directly owned 259,073 shares in the company, valued at $53,063,331.86. This represents a 7.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders have sold 379,645 shares of company stock worth $78,263,666. Insiders own 1.42% of the company's stock.

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.

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