Covestor Ltd Sells 1,335 Shares of Vistra Corp. (NYSE:VST)

Covestor Ltd trimmed its position in shares of Vistra Corp. (NYSE:VST) by 35.4% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 2,433 shares of the company’s stock after selling 1,335 shares during the quarter. Covestor Ltd’s holdings in Vistra were worth $288,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Vistra during the third quarter valued at approximately $30,000. CVA Family Office LLC increased its stake in Vistra by 1,505.9% in the third quarter. CVA Family Office LLC now owns 273 shares of the company’s stock worth $32,000 after purchasing an additional 256 shares during the period. Redwood Wealth Management Group LLC bought a new stake in shares of Vistra during the second quarter worth $26,000. ORG Wealth Partners LLC purchased a new stake in shares of Vistra during the third quarter valued at $40,000. Finally, Fortitude Family Office LLC grew its holdings in shares of Vistra by 125.0% in the third quarter. Fortitude Family Office LLC now owns 360 shares of the company’s stock worth $43,000 after purchasing an additional 200 shares during the last quarter. 90.88% of the stock is owned by hedge funds and other institutional investors.

Vistra Price Performance

VST opened at $141.90 on Friday. Vistra Corp. has a 1 year low of $34.24 and a 1 year high of $144.77. The business’s 50-day moving average is $113.05 and its two-hundred day moving average is $94.99. The company has a debt-to-equity ratio of 2.89, a current ratio of 0.98 and a quick ratio of 0.88. The firm has a market capitalization of $48.75 billion, a PE ratio of 26.47 and a beta of 1.09.

Vistra (NYSE:VST) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.59 by ($0.69). The firm had revenue of $3.85 billion during the quarter, compared to analysts’ expectations of $4.04 billion. Vistra had a return on equity of 52.31% and a net margin of 12.51%. During the same period in the prior year, the firm posted $1.03 earnings per share. Research analysts anticipate that Vistra Corp. will post 4.13 earnings per share for the current fiscal year.

Vistra declared that its Board of Directors has initiated a share buyback plan on Thursday, November 7th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 2.1% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Vistra Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 20th will be paid a dividend of $0.221 per share. This is a positive change from Vistra’s previous quarterly dividend of $0.22. The ex-dividend date is Friday, December 20th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.62%. Vistra’s payout ratio is presently 16.42%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. BMO Capital Markets lifted their price objective on shares of Vistra from $146.00 to $147.00 and gave the company an “outperform” rating in a report on Tuesday, October 29th. Guggenheim lifted their price target on shares of Vistra from $133.00 to $177.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. UBS Group dropped their price objective on Vistra from $157.00 to $150.00 and set a “buy” rating on the stock in a research note on Tuesday, October 22nd. Jefferies Financial Group raised their price objective on Vistra from $99.00 to $137.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. Finally, Morgan Stanley upped their target price on Vistra from $110.00 to $132.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. Ten investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $145.40.

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.