Sumitomo Mitsui Trust Group Inc. Sells 2,946 Shares of Vistra Corp. (NYSE:VST)

Sumitomo Mitsui Trust Group Inc. cut its position in Vistra Corp. (NYSE:VST) by 0.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 864,538 shares of the company’s stock after selling 2,946 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.25% of Vistra worth $102,482,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Envestnet Portfolio Solutions Inc. grew its stake in Vistra by 35.8% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 7,174 shares of the company’s stock worth $500,000 after purchasing an additional 1,892 shares during the period. SG Americas Securities LLC grew its stake in Vistra by 64.5% during the first quarter. SG Americas Securities LLC now owns 11,377 shares of the company’s stock worth $792,000 after purchasing an additional 4,460 shares during the period. Avantax Advisory Services Inc. acquired a new stake in Vistra during the first quarter worth approximately $702,000. Bleakley Financial Group LLC acquired a new stake in Vistra during the first quarter worth approximately $263,000. Finally, State Board of Administration of Florida Retirement System grew its stake in Vistra by 4.7% during the first quarter. State Board of Administration of Florida Retirement System now owns 464,860 shares of the company’s stock worth $32,377,000 after purchasing an additional 20,811 shares during the period. 90.88% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

VST has been the subject of several recent analyst reports. JPMorgan Chase & Co. initiated coverage on Vistra in a research note on Thursday, October 17th. They set an “overweight” rating and a $178.00 target price for the company. BMO Capital Markets raised their price objective on Vistra from $146.00 to $147.00 and gave the company an “outperform” rating in a research note on Tuesday, October 29th. Royal Bank of Canada raised their price objective on Vistra from $105.00 to $141.00 and gave the company an “outperform” rating in a research note on Thursday, October 3rd. BNP Paribas initiated coverage on Vistra in a research note on Monday, October 14th. They issued an “outperform” rating and a $231.00 price objective for the company. Finally, Morgan Stanley raised their price objective on Vistra from $110.00 to $132.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. Ten research analysts have rated the stock with a buy rating, According to MarketBeat.com, Vistra presently has an average rating of “Buy” and a consensus price target of $145.40.

Vistra Stock Down 0.0 %

Shares of NYSE:VST opened at $142.09 on Thursday. The stock has a market cap of $48.34 billion, a price-to-earnings ratio of 26.51 and a beta of 1.09. The company has a quick ratio of 0.88, a current ratio of 1.11 and a debt-to-equity ratio of 4.68. Vistra Corp. has a 12-month low of $34.25 and a 12-month high of $149.80. The business’s 50 day moving average is $116.89 and its 200 day moving average is $96.49.

Vistra Increases Dividend

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

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

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.