Rafferty Asset Management LLC Sells 7,153 Shares of Vistra Corp. $VST

Key Points

• Rafferty Asset Management LLC reduced its stake in Vistra Corp. by 17.7%, selling 7,153 shares to hold 33,302 shares valued at approximately $3.91 million.
• Vistra announced a quarterly dividend increase to $0.226 per share, with an annual yield of 0.5%, set to be paid on September 30th.
• Several research firms have adjusted their price targets for Vistra, with UBS Group increasing its target from $207.00 to $230.00 and offering a "buy" rating.

Rafferty Asset Management LLC trimmed its position in shares of Vistra Corp. (NYSE:VST - Free Report) by 17.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,302 shares of the company's stock after selling 7,153 shares during the period. Rafferty Asset Management LLC's holdings in Vistra were worth $3,911,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in VST. HM Payson & Co. increased its holdings in Vistra by 275.4% in the first quarter. HM Payson & Co. now owns 229 shares of the company's stock worth $27,000 after buying an additional 168 shares during the last quarter. Ameriflex Group Inc. bought a new stake in Vistra in the fourth quarter worth approximately $32,000. Keener Financial Planning LLC acquired a new position in shares of Vistra during the 1st quarter worth $34,000. Zions Bancorporation National Association UT bought a new position in shares of Vistra during the 1st quarter valued at $39,000. Finally, Opal Wealth Advisors LLC acquired a new stake in shares of Vistra in the 1st quarter valued at $46,000. 90.88% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

VST has been the topic of several analyst reports. UBS Group increased their target price on shares of Vistra from $207.00 to $230.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Evercore ISI set a $192.00 price objective on Vistra and gave the company an "outperform" rating in a research note on Thursday, May 15th. BMO Capital Markets upped their target price on Vistra from $191.00 to $229.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 12th. Jefferies Financial Group increased their price target on Vistra from $145.00 to $241.00 and gave the company a "buy" rating in a report on Friday, August 8th. Finally, Melius Research upgraded shares of Vistra to a "strong-buy" rating in a research note on Wednesday, August 20th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $201.43.

Insider Activity at Vistra

In other news, Director John R. Sult sold 25,000 shares of Vistra stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $171.67, for a total transaction of $4,291,750.00. Following the sale, the director owned 75,946 shares of the company's stock, valued at approximately $13,037,649.82. This trade represents a 24.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.42% of the company's stock.

Vistra Stock Performance

NYSE:VST traded up $1.52 during trading hours on Thursday, hitting $189.64. 1,038,674 shares of the company traded hands, compared to its average volume of 6,893,553. The company has a current ratio of 0.90, a quick ratio of 0.80 and a debt-to-equity ratio of 6.58. Vistra Corp. has a twelve month low of $72.90 and a twelve month high of $216.85. The firm has a 50-day moving average of $195.59 and a 200 day moving average of $159.63. The stock has a market capitalization of $64.26 billion, a price-to-earnings ratio of 30.25, a P/E/G ratio of 2.18 and a beta of 1.33.

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

Vistra Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 19th will be issued a $0.226 dividend. This is a positive change from Vistra's previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Friday, September 19th. This represents a $0.90 annualized dividend and a yield of 0.5%. Vistra's payout ratio is currently 14.35%.

About Vistra

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.