Vistra Corp. $VST Shares Bought by Bank of Nova Scotia

Key Points

• Bank of Nova Scotia increased its stake in Vistra by 16.7% in the first quarter, bringing its holdings to 137,005 shares valued at about $20.6 million.
• Vistra posted stronger-than-expected quarterly results, reporting $2.87 EPS versus the $1.32 estimate and revenue of $5.64 billion, above analyst expectations.
• Analysts remain broadly positive on the stock, with a consensus rating of “Buy” and an average price target of $230.62, while Scotiabank recently raised its target to $298.

Bank of Nova Scotia raised its holdings in Vistra Corp. (NYSE:VST - Free Report) by 16.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 137,005 shares of the company's stock after purchasing an additional 19,647 shares during the period. Bank of Nova Scotia's holdings in Vistra were worth $20,597,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Norges Bank purchased a new stake in Vistra in the 4th quarter valued at approximately $746,729,000. Capital World Investors purchased a new position in Vistra during the fourth quarter worth $574,499,000. Rubric Capital Management LP acquired a new position in shares of Vistra in the fourth quarter worth $322,660,000. Amundi raised its holdings in shares of Vistra by 72.3% in the fourth quarter. Amundi now owns 1,949,568 shares of the company's stock worth $314,524,000 after acquiring an additional 817,876 shares during the last quarter. Finally, Corient Private Wealth LLC raised its holdings in shares of Vistra by 585.0% in the fourth quarter. Corient Private Wealth LLC now owns 907,611 shares of the company's stock worth $146,425,000 after acquiring an additional 775,104 shares during the last quarter. 90.88% of the stock is currently owned by institutional investors and hedge funds.

Vistra Stock Performance

NYSE VST opened at $163.15 on Friday. The business's 50-day moving average price is $156.05 and its 200 day moving average price is $158.47. Vistra Corp. has a twelve month low of $132.66 and a twelve month high of $219.82. The company has a market capitalization of $55.01 billion, a PE ratio of 27.33 and a beta of 1.40. The company has a current ratio of 0.90, a quick ratio of 0.79 and a debt-to-equity ratio of 5.51.

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

Vistra Increases Dividend

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

Insider Activity at Vistra

In related news, Director Paul M. Barbas sold 244 shares of Vistra stock in a transaction on Monday, June 15th. The stock was sold at an average price of $153.00, for a total value of $37,332.00. Following the transaction, the director owned 53,006 shares in the company, valued at approximately $8,109,918. This trade represents a 0.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Margaret Montemayor sold 5,000 shares of Vistra stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $164.96, for a total value of $824,800.00. Following the completion of the transaction, the chief accounting officer owned 14,360 shares in the company, valued at $2,368,825.60. The trade was a 25.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 41,588 shares of company stock worth $6,739,227 in the last 90 days. Company insiders own 0.92% of the company's stock.

Analyst Ratings Changes

A number of research firms recently commented on VST. Scotiabank lifted their price objective on Vistra from $293.00 to $298.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 15th. JPMorgan Chase & Co. decreased their price target on shares of Vistra from $240.00 to $231.00 and set an "overweight" rating on the stock in a research note on Thursday, April 30th. Raymond James Financial set a $208.00 price target on shares of Vistra in a report on Monday, April 27th. Sanford C. Bernstein set a $187.00 price objective on shares of Vistra and gave the company an "outperform" rating in a research report on Tuesday, June 16th. Finally, Jefferies Financial Group reissued a "buy" rating and set a $190.00 price objective on shares of Vistra in a research note on Thursday, May 21st. Three research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $230.62.

About Vistra

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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