State Street Corp Has $1.94 Billion Stake in Vistra Corp. (NYSE:VST)

State Street Corp grew its position in Vistra Corp. (NYSE:VST) by 6.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,355,255 shares of the company’s stock after purchasing an additional 1,037,402 shares during the period. State Street Corp’s holdings in Vistra were worth $1,938,752,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Quadrature Capital Ltd lifted its holdings in shares of Vistra by 11.3% in the third quarter. Quadrature Capital Ltd now owns 117,536 shares of the company’s stock valued at $13,933,000 after purchasing an additional 11,923 shares in the last quarter. Quantinno Capital Management LP lifted its holdings in shares of Vistra by 31.7% in the third quarter. Quantinno Capital Management LP now owns 23,074 shares of the company’s stock valued at $2,735,000 after purchasing an additional 5,558 shares in the last quarter. Quarry LP raised its holdings in Vistra by 5.2% during the third quarter. Quarry LP now owns 29,140 shares of the company’s stock worth $3,454,000 after acquiring an additional 1,439 shares in the last quarter. PointState Capital LP bought a new stake in Vistra during the third quarter worth about $39,823,000. Finally, Polymer Capital Management HK LTD bought a new stake in Vistra during the third quarter worth about $3,204,000. 90.88% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on VST. BMO Capital Markets upped their target price on Vistra from $146.00 to $147.00 and gave the stock an “outperform” rating in a report on Tuesday, October 29th. JPMorgan Chase & Co. began coverage on Vistra in a report on Thursday, October 17th. They set an “overweight” rating and a $178.00 target price on the stock. Morgan Stanley upped their target price on Vistra from $135.00 to $169.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. BNP Paribas began coverage on Vistra in a report on Monday, October 14th. They set an “outperform” rating and a $231.00 target price on the stock. Finally, Guggenheim upped their target price on Vistra from $133.00 to $177.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Ten research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $149.10.

Insider Activity

In related news, EVP Stephen J. Muscato sold 207,100 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $161.34, for a total transaction of $33,413,514.00. Following the sale, the executive vice president now owns 318,287 shares of the company’s stock, valued at $51,352,424.58. This represents a 39.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Scott A. Hudson sold 115,000 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $164.16, for a total value of $18,878,400.00. Following the sale, the executive vice president now directly owns 254,932 shares in the company, valued at $41,849,637.12. This represents a 31.09 % decrease in their position. The disclosure for this sale can be found here. 1.42% of the stock is owned by company insiders.

Vistra Price Performance

NYSE:VST opened at $160.10 on Friday. The company has a quick ratio of 0.99, a current ratio of 1.11 and a debt-to-equity ratio of 4.68. The stock’s 50 day moving average price is $137.82 and its two-hundred day moving average price is $104.50. The firm has a market capitalization of $54.47 billion, a price-to-earnings ratio of 29.87, a P/E/G ratio of 2.07 and a beta of 1.16. Vistra Corp. has a 12-month low of $36.17 and a 12-month high of $168.67.

Vistra Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 20th will be given a $0.221 dividend. This is an increase from Vistra’s previous quarterly dividend of $0.22. The ex-dividend date is Friday, December 20th. This represents a $0.88 annualized dividend and a dividend yield of 0.55%. Vistra’s dividend payout ratio is presently 16.42%.

Vistra announced that its Board of Directors has initiated a share buyback program on Thursday, November 7th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 2.1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors 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.