Third Point LLC Sells 2,175,000 Shares of Vistra Corp. (NYSE:VST)

Third Point LLC cut its stake in Vistra Corp. (NYSE:VST - Free Report) by 68.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,000,000 shares of the company's stock after selling 2,175,000 shares during the period. Vistra accounts for 1.9% of Third Point LLC's investment portfolio, making the stock its 23rd largest holding. Third Point LLC owned about 0.29% of Vistra worth $137,870,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Morse Asset Management Inc bought a new position in shares of Vistra in the 3rd quarter worth about $631,000. Virtu Financial LLC bought a new stake in Vistra in the third quarter worth approximately $1,466,000. Fulcrum Equity Management increased its holdings in Vistra by 2.8% in the third quarter. Fulcrum Equity Management now owns 13,549 shares of the company's stock worth $1,606,000 after purchasing an additional 364 shares in the last quarter. Pine Valley Investments Ltd Liability Co acquired a new position in Vistra in the third quarter valued at approximately $208,000. Finally, World Investment Advisors LLC bought a new position in shares of Vistra during the 3rd quarter worth approximately $351,000. Institutional investors and hedge funds own 90.88% of the company's stock.

Vistra Stock Up 1.4 %

VST traded up $1.94 during midday trading on Friday, reaching $139.24. 5,609,642 shares of the company were exchanged, compared to its average volume of 7,915,529. The company has a market cap of $47.36 billion, a price-to-earnings ratio of 25.98, a price-to-earnings-growth ratio of 1.12 and a beta of 1.16. Vistra Corp. has a one year low of $66.50 and a one year high of $199.84. The company's fifty day moving average price is $120.90 and its 200 day moving average price is $140.88. The company has a debt-to-equity ratio of 4.68, a quick ratio of 0.99 and a current ratio of 1.11.

Vistra Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Wednesday, June 18th will be given a $0.225 dividend. This is a positive change from Vistra's previous quarterly dividend of $0.22. This represents a $0.90 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date is Wednesday, June 18th. Vistra's dividend payout ratio is presently 12.77%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Evercore ISI initiated coverage on shares of Vistra in a research note on Tuesday, January 21st. They issued an "outperform" rating and a $202.00 price objective for the company. BMO Capital Markets lifted their price target on shares of Vistra from $151.00 to $191.00 and gave the company an "outperform" rating in a research note on Wednesday, January 22nd. The Goldman Sachs Group initiated coverage on shares of Vistra in a research report on Friday, April 4th. They set a "neutral" rating and a $134.00 price objective on the stock. Bank of America raised Vistra from a "neutral" rating to a "buy" rating and decreased their target price for the company from $164.00 to $152.00 in a research report on Tuesday, March 4th. Finally, JPMorgan Chase & Co. cut their price target on Vistra from $203.00 to $186.00 and set an "overweight" rating on the stock in a report on Friday, March 28th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $166.17.

Insider Buying and Selling at Vistra

In related news, Director Paul M. Barbas sold 24,136 shares of Vistra stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $124.19, for a total transaction of $2,997,449.84. Following the sale, the director now directly owns 51,063 shares in the company, valued at approximately $6,341,513.97. This trade represents a 32.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John William Pitesa acquired 1,500 shares of Vistra stock in a transaction on Wednesday, March 12th. The stock was acquired at an average price of $126.75 per share, with a total value of $190,125.00. Following the purchase, the director now directly owns 3,467 shares in the company, valued at approximately $439,442.25. This trade represents a 76.26 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.42% of the company's stock.

Vistra Profile

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.