Vistra Corp. $VST Shares Sold by Fred Alger Management LLC

Key Points

• Fred Alger Management cut its Vistra stake by 35.1% in Q3, selling 753,515 shares and now holds 1,394,607 shares (about 0.41% of the company) valued at roughly $273.23 million; Vistra is 1.1% of Alger's portfolio and its 22nd largest position.
• Vistra missed quarterly expectations, reporting EPS of $2.18 versus $2.45 expected and revenue of $4.58 billion versus $5.75 billion forecasted.
• Analysts remain broadly positive with a MarketBeat consensus rating of Buy and a $236.40 average price target, and the company raised its quarterly dividend to $0.228 ($0.91 annualized, ~0.6% yield).

Fred Alger Management LLC decreased its stake in shares of Vistra Corp. (NYSE:VST - Free Report) by 35.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,394,607 shares of the company's stock after selling 753,515 shares during the period. Vistra accounts for 1.1% of Fred Alger Management LLC's investment portfolio, making the stock its 22nd biggest position. Fred Alger Management LLC owned approximately 0.41% of Vistra worth $273,231,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in VST. Bridgewater Advisors Inc. increased its position in Vistra by 3.1% during the 3rd quarter. Bridgewater Advisors Inc. now owns 1,787 shares of the company's stock worth $350,000 after purchasing an additional 53 shares in the last quarter. Y.D. More Investments Ltd raised its stake in Vistra by 7.1% in the 3rd quarter. Y.D. More Investments Ltd now owns 916 shares of the company's stock valued at $168,000 after purchasing an additional 61 shares during the last quarter. Equitable Holdings Inc. lifted its holdings in Vistra by 0.9% in the 3rd quarter. Equitable Holdings Inc. now owns 7,045 shares of the company's stock valued at $1,380,000 after purchasing an additional 61 shares in the last quarter. Ballentine Partners LLC lifted its holdings in Vistra by 2.0% in the 3rd quarter. Ballentine Partners LLC now owns 3,275 shares of the company's stock valued at $642,000 after purchasing an additional 63 shares in the last quarter. Finally, Wealth Effects LLC boosted its stake in shares of Vistra by 1.1% during the 3rd quarter. Wealth Effects LLC now owns 5,782 shares of the company's stock worth $1,133,000 after purchasing an additional 65 shares during the last quarter. 90.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on VST shares. Scotiabank lifted their price target on shares of Vistra from $287.00 to $293.00 and gave the stock an "outperform" rating in a report on Monday, January 12th. The Goldman Sachs Group upgraded shares of Vistra from a "neutral" rating to a "buy" rating and set a $205.00 target price on the stock in a research report on Friday, February 6th. Wells Fargo & Company lowered their target price on shares of Vistra from $236.00 to $234.00 and set an "overweight" rating for the company in a research note on Friday, February 27th. Bank of America cut their price target on Vistra from $231.00 to $218.00 and set a "buy" rating for the company in a report on Monday, January 12th. Finally, UBS Group increased their price target on Vistra from $230.00 to $233.00 and gave the stock a "buy" rating in a research note on Monday, January 12th. Three equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Vistra has a consensus rating of "Buy" and a consensus price target of $236.40.

Vistra Trading Down 0.3%

Shares of VST stock opened at $159.09 on Monday. The firm's 50-day simple moving average is $163.48 and its 200-day simple moving average is $178.23. The company has a debt-to-equity ratio of 6.01, a current ratio of 0.78 and a quick ratio of 0.69. Vistra Corp. has a 1-year low of $90.51 and a 1-year high of $219.82. The firm has a market cap of $53.90 billion, a P/E ratio of 73.31, a PEG ratio of 0.96 and a beta of 1.42.

Vistra (NYSE:VST - Get Free Report) last released its earnings results on Thursday, February 26th. The company reported $2.18 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.45 by ($0.27). The company had revenue of $4.58 billion during the quarter, compared to analysts' expectations of $5.75 billion. Vistra had a net margin of 5.32% and a return on equity of 81.09%. As a group, equities analysts forecast that Vistra Corp. will post 7 EPS for the current year.

Vistra Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 20th will be given a $0.228 dividend. This is an increase from Vistra's previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Friday, March 20th. This represents a $0.91 annualized dividend and a dividend yield of 0.6%. Vistra's dividend payout ratio is 41.94%.

Insider Buying and Selling at Vistra

In related news, EVP Stephanie Zapata Moore sold 10,000 shares of Vistra stock in a transaction on Monday, March 9th. The stock was sold at an average price of $160.31, for a total value of $1,603,100.00. Following the transaction, the executive vice president owned 114,409 shares in the company, valued at approximately $18,340,906.79. This trade represents a 8.04% 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. Company insiders own 1.42% of the company's stock.

Vistra Company 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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