Vistra Corp. $VST Shares Newly Bought by Legacy CG LLC

Key Points

• Legacy CG LLC initiated a position in Vistra, acquiring 23,335 shares worth approximately $3.23 million in the third quarter.
• Vistra’s latest reported quarter fell short of expectations: earnings were $0.76 per share versus $1.61 forecast, while revenue was $4.02 billion against estimates of $5.46 billion.
• The company raised its quarterly dividend slightly to $0.231 per share. Analysts’ consensus rating was “Moderate Buy,” with an average price target of $202.43.

Legacy CG LLC acquired a new stake in Vistra Corp. (NYSE:VST - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 23,335 shares of the company's stock, valued at approximately $3,228,000.

Several other institutional investors and hedge funds have also modified their holdings of the stock. BlackRock Inc. acquired a new stake in shares of Vistra during the 2nd quarter worth approximately $4,610,496,000. Envestnet Asset Management Inc. increased its holdings in shares of Vistra by 16.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 258,337 shares of the company's stock valued at $40,979,000 after purchasing an additional 35,862 shares in the last quarter. Fifth Third Bancorp increased its holdings in shares of Vistra by 95.1% during the 1st quarter. Fifth Third Bancorp now owns 177,199 shares of the company's stock valued at $26,638,000 after purchasing an additional 86,393 shares in the last quarter. Wealth High Governance Capital Ltda purchased a new position in Vistra in the first quarter valued at $10,543,000. Finally, Lazard Asset Management LLC boosted its stake in shares of Vistra by 353.5% during the 1st quarter. Lazard Asset Management LLC now owns 11,690 shares of the company's stock worth $1,757,000 after acquiring an additional 9,112 shares in the last quarter. Institutional investors and hedge funds own 90.88% of the company's stock.

Insider Activity

In other news, CEO James A. Burke acquired 4,465 shares of the company's stock in a transaction that occurred on Tuesday, September 1st. The stock was purchased at an average price of $135.25 per share, with a total value of $603,891.25. Following the completion of the acquisition, the chief executive officer owned 1,146,352 shares of the company's stock, valued at $155,044,108. This trade represents a 0.39% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Scott Hudson sold 44,444 shares of the firm's stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $151.82, for a total transaction of $6,747,488.08. Following the sale, the executive vice president owned 331,137 shares of the company's stock, valued at approximately $50,273,219.34. The trade was a 11.83% 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 own 0.92% of the company's stock.

Vistra Stock Performance

Shares of Vistra stock opened at $139.66 on Wednesday. Vistra Corp. has a one year low of $132.66 and a one year high of $196.80. The company has a market cap of $46.88 billion, a price-to-earnings ratio of 23.59 and a beta of 1.37. The company has a debt-to-equity ratio of 5.87, a quick ratio of 0.87 and a current ratio of 0.97. The business's 50 day moving average price is $145.11 and its 200 day moving average price is $153.38.

Vistra (NYSE:VST - Get Free Report) last released its quarterly earnings data on Friday, August 7th. The company reported $0.76 earnings per share for the quarter, missing analysts' consensus estimates of $1.61 by ($0.85). Vistra had a return on equity of 108.68% and a net margin of 11.55%. The company had revenue of $4.02 billion for the quarter, compared to analyst estimates of $5.46 billion. On average, research analysts predict that Vistra Corp. will post 9.19 EPS for the current year.

Vistra Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Tuesday, December 22nd will be given a dividend of $0.2310 per share. This represents a $0.92 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Tuesday, December 22nd. This is a positive change from Vistra's previous quarterly dividend of $0.23. Vistra's dividend payout ratio is presently 15.54%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. UBS Group set a $176.00 price target on Vistra in a research report on Wednesday, October 21st. The Goldman Sachs Group set a $206.00 target price on Vistra in a report on Wednesday, August 12th. Zacks Research cut Vistra from a "hold" rating to a "strong sell" rating in a report on Wednesday, October 14th. Sanford C. Bernstein reissued an "outperform" rating and issued a $181.00 price target on shares of Vistra in a research note on Thursday, October 1st. Finally, Mizuho started coverage on shares of Vistra in a report on Monday, August 24th. They issued an "outperform" rating and a $169.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $202.43.

Vistra Profile

Vistra Corp. NYSE: VST is an integrated energy company based in Irving, Texas. The company operates across electricity generation, power distribution support, energy marketing and retail electricity sales, serving residential, commercial and industrial customers primarily in the United States.

Vistra owns and operates a diverse portfolio of power generation and energy storage facilities. Its assets include natural gas, nuclear, coal and renewable generation, as well as battery storage projects.

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