Van ECK Associates Corp Sells 38,368 Shares of Vistra Corp. $VST

Key Points

• Van ECK Associates cut its Vistra stake by 56.2%, selling 38,368 shares and retaining 29,891 shares valued at approximately $4.74 million. Institutional investors collectively own 90.88% of the company.
• Vistra reported quarterly earnings of $0.76 per share, missing the $1.61 consensus estimate, while revenue of $4.02 billion fell short of the $5.46 billion forecast.
• Analysts maintain a broadly positive view, with a consensus rating of “Moderate Buy” and an average price target of $223.53, well above the reported share price of $143.42.

Van ECK Associates Corp trimmed its holdings in Vistra Corp. (NYSE:VST - Free Report) by 56.2% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 29,891 shares of the company's stock after selling 38,368 shares during the quarter. Van ECK Associates Corp's holdings in Vistra were worth $4,742,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in VST. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in Vistra during the fourth quarter valued at about $25,000. Mcguire Capital Advisors Inc. purchased a new position in shares of Vistra in the fourth quarter worth about $28,000. Kemnay Advisory Services Inc. bought a new stake in shares of Vistra in the 4th quarter valued at about $30,000. Strive Financial Group LLC bought a new stake in shares of Vistra in the 4th quarter valued at about $33,000. Finally, IFC & Insurance Marketing Inc. purchased a new stake in Vistra during the 4th quarter valued at about $35,000. Institutional investors own 90.88% of the company's stock.

Vistra Trading Up 3.9%

VST opened at $143.42 on Thursday. The stock has a market cap of $48.14 billion, a PE ratio of 24.23 and a beta of 1.40. The company has a quick ratio of 0.87, a current ratio of 0.97 and a debt-to-equity ratio of 5.87. The business has a 50 day moving average of $150.14 and a 200-day moving average of $155.05. 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 Friday, August 7th. The company reported $0.76 earnings per share for the quarter, missing the consensus estimate of $1.61 by ($0.85). The firm had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $5.46 billion. Vistra had a net margin of 11.55% and a return on equity of 108.68%. Equities research analysts predict that Vistra Corp. will post 9.21 earnings per share for the current fiscal year.

Vistra Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Monday, September 21st will be issued a dividend of $0.23 per share. This is a boost from Vistra's previous quarterly dividend of $0.23. The ex-dividend date is Monday, September 21st. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.6%. Vistra's dividend payout ratio (DPR) is presently 15.54%.

Insider Buying and Selling at Vistra

In other Vistra news, Director John R. Sult sold 6,500 shares of the firm's stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $170.00, for a total transaction of $1,105,000.00. Following the completion of the transaction, the director owned 70,714 shares of the company's stock, valued at approximately $12,021,380. This trade represents a 8.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Scott B. Helm sold 25,000 shares of Vistra stock in a transaction that occurred on 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 transaction, the director 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. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 31,988 shares of company stock valued at $5,178,427 over the last 90 days. 0.92% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. TD Cowen reduced their price target on Vistra from $222.00 to $221.00 and set a "buy" rating on the stock in a research report on Wednesday, August 19th. UBS Group dropped their price objective on Vistra from $233.00 to $227.00 and set a "buy" rating for the company in a research note on Tuesday, July 28th. Morgan Stanley raised their target price on shares of Vistra from $212.00 to $227.00 and gave the stock an "overweight" rating in a report on Friday, August 21st. Jefferies Financial Group reaffirmed a "buy" rating and issued a $190.00 target price on shares of Vistra in a research note on Thursday, May 21st. Finally, Mizuho began coverage on shares of Vistra in a report on Monday, August 24th. They set an "outperform" rating and a $169.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have issued a Hold 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 $223.53.

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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