Castleark Management LLC Boosts Stock Position in Vistra Corp. (NYSE:VST)

Castleark Management LLC grew its holdings in shares of Vistra Corp. (NYSE:VST) by 344.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,990 shares of the company’s stock after purchasing an additional 14,720 shares during the quarter. Castleark Management LLC’s holdings in Vistra were worth $2,251,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Empire Life Investments Inc. purchased a new stake in Vistra during the third quarter worth about $23,028,000. Terra Nova Asset Management LLC purchased a new stake in shares of Vistra during the 3rd quarter worth approximately $842,000. Czech National Bank raised its holdings in shares of Vistra by 12.4% in the 3rd quarter. Czech National Bank now owns 69,987 shares of the company’s stock worth $8,296,000 after purchasing an additional 7,747 shares during the period. CIBC Asset Management Inc lifted its stake in Vistra by 12.4% in the third quarter. CIBC Asset Management Inc now owns 50,380 shares of the company’s stock valued at $5,972,000 after purchasing an additional 5,575 shares during the last quarter. Finally, Viking Fund Management LLC bought a new position in Vistra during the third quarter valued at $1,185,000. 90.88% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on VST shares. 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 note on Tuesday, September 24th. JPMorgan Chase & Co. initiated coverage on shares of Vistra in a research note on Thursday, October 17th. They issued an “overweight” rating and a $178.00 target price for the company. Guggenheim upped 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. BNP Paribas initiated coverage on Vistra in a research note on Monday, October 14th. They set an “outperform” rating and a $231.00 price objective on the stock. Finally, Royal Bank of Canada upped their target price on Vistra from $105.00 to $141.00 and gave the stock an “outperform” rating in a research note on Thursday, October 3rd. Ten investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $149.10.

Vistra Stock Down 0.6 %

Shares of NYSE:VST opened at $159.98 on Friday. Vistra Corp. has a 1 year low of $36.17 and a 1 year high of $168.67. The company has a debt-to-equity ratio of 4.68, a current ratio of 1.11 and a quick ratio of 0.99. The stock’s 50-day moving average is $137.82 and its 200 day moving average is $104.57. The company has a market cap of $54.43 billion, a PE ratio of 29.85, a P/E/G ratio of 2.07 and a beta of 1.16.

Vistra Increases Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Friday, December 20th. This is a boost from Vistra’s previous quarterly dividend of $0.22. This represents a $0.88 annualized dividend and a dividend yield of 0.55%. Vistra’s payout ratio is 16.42%.

Vistra declared that its Board of Directors has initiated a stock repurchase program on Thursday, November 7th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to buy up to 2.1% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other news, EVP Stephen J. Muscato sold 207,100 shares of Vistra stock in a transaction dated Friday, November 22nd. The shares were 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 approximately $51,352,424.58. The trade was a 39.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Scott A. Hudson sold 115,000 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $164.16, for a total transaction of $18,878,400.00. Following the completion of the transaction, the executive vice president now directly owns 254,932 shares of the company’s stock, valued at approximately $41,849,637.12. The trade was a 31.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.42% of the stock is currently owned by insiders.

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.