Wedge Capital Management L L P NC Lowers Holdings in Vistra Corp. (NYSE:VST)

Wedge Capital Management L L P NC cut its holdings in Vistra Corp. (NYSE:VST) by 48.7% during the fourth quarter, Holdings Channel reports. The firm owned 86,253 shares of the company’s stock after selling 81,913 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Vistra were worth $11,892,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in VST. Founders Capital Management purchased a new stake in shares of Vistra during the 4th quarter worth approximately $28,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Vistra during the 3rd quarter worth approximately $30,000. Mark Sheptoff Financial Planning LLC purchased a new stake in shares of Vistra during the 3rd quarter worth approximately $30,000. CVA Family Office LLC raised its holdings in shares of Vistra by 1,505.9% during the 3rd quarter. CVA Family Office LLC now owns 273 shares of the company’s stock worth $32,000 after acquiring an additional 256 shares in the last quarter. Finally, RPg Family Wealth Advisory LLC purchased a new stake in shares of Vistra during the 3rd quarter worth approximately $36,000. 90.88% of the stock is owned by hedge funds and other institutional investors.

Vistra Stock Performance

Shares of Vistra stock opened at $171.10 on Friday. The stock’s fifty day moving average is $151.89 and its two-hundred day moving average is $116.99. The company has a market capitalization of $58.21 billion, a PE ratio of 31.92, a price-to-earnings-growth ratio of 1.56 and a beta of 1.21. The company has a quick ratio of 0.99, a current ratio of 1.11 and a debt-to-equity ratio of 4.68. Vistra Corp. has a 52 week low of $39.08 and a 52 week high of $178.40.

Vistra Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 20th were given a $0.221 dividend. This represents a $0.88 annualized dividend and a yield of 0.52%. The ex-dividend date was Friday, December 20th. This is an increase from Vistra’s previous quarterly dividend of $0.22. Vistra’s dividend payout ratio is 16.60%.

Vistra announced that its Board of Directors has authorized a share repurchase program on Thursday, November 7th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 2.1% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on VST shares. JPMorgan Chase & Co. started coverage on Vistra in a report on Thursday, October 17th. They set an “overweight” rating and a $178.00 price objective on the stock. Jefferies Financial Group boosted their target price on Vistra from $99.00 to $137.00 and gave the company a “buy” rating in a research report on Tuesday, September 24th. Morgan Stanley boosted their target price on Vistra from $135.00 to $169.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Guggenheim boosted their target price on Vistra from $133.00 to $177.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Finally, BNP Paribas initiated coverage on Vistra in a research report on Monday, October 14th. They set an “outperform” rating and a $231.00 target price on the stock. Ten investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $151.50.

Insiders Place Their Bets

In other Vistra news, EVP Stephen J. Muscato sold 207,100 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $161.34, for a total value of $33,413,514.00. Following the completion of the sale, the executive vice president now directly owns 318,287 shares in the company, valued at approximately $51,352,424.58. This represents a 39.42 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Scott B. Helm sold 20,000 shares of the company’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $139.77, for a total value of $2,795,400.00. Following the completion of the sale, the director now owns 343,350 shares of the company’s stock, valued at $47,990,029.50. This represents a 5.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 342,100 shares of company stock worth $55,087,314. 1.42% of the stock is currently owned by company insiders.

Vistra Company 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.