Goldentree Asset Management LP Makes New $12.26 Million Investment in Vistra Corp. (NYSE:VST)

Goldentree Asset Management LP purchased a new position in shares of Vistra Corp. (NYSE:VST) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 103,664 shares of the company’s stock, valued at approximately $12,256,000. Vistra accounts for 1.0% of Goldentree Asset Management LP’s holdings, making the stock its 26th largest position.

A number of other institutional investors have also modified their holdings of VST. Massachusetts Financial Services Co. MA boosted its holdings in Vistra by 115.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,532,657 shares of the company’s stock valued at $217,758,000 after acquiring an additional 1,356,488 shares during the period. Thrivent Financial for Lutherans lifted its position in shares of Vistra by 1,358.2% during the second quarter. Thrivent Financial for Lutherans now owns 1,228,144 shares of the company’s stock worth $105,596,000 after purchasing an additional 1,143,918 shares in the last quarter. Marshall Wace LLP boosted its stake in shares of Vistra by 315.9% in the second quarter. Marshall Wace LLP now owns 1,175,811 shares of the company’s stock valued at $101,096,000 after purchasing an additional 893,093 shares during the period. Point72 Asset Management L.P. grew its holdings in shares of Vistra by 121.1% in the second quarter. Point72 Asset Management L.P. now owns 1,536,192 shares of the company’s stock valued at $132,082,000 after purchasing an additional 841,292 shares in the last quarter. Finally, Rubric Capital Management LP increased its stake in Vistra by 60.1% during the 3rd quarter. Rubric Capital Management LP now owns 2,125,000 shares of the company’s stock worth $251,898,000 after buying an additional 797,894 shares during the period. 90.88% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Vistra

In related news, EVP Scott A. Hudson sold 115,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the executive vice president now owns 254,932 shares in the company, valued at $41,849,637.12. This trade represents a 31.09 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Stephen J. Muscato sold 207,100 shares of Vistra stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 318,287 shares in the company, valued at approximately $51,352,424.58. This trade represents a 39.42 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.42% of the company’s stock.

Vistra Price Performance

VST stock opened at $154.52 on Friday. The stock has a market cap of $52.57 billion, a price-to-earnings ratio of 28.83, a PEG ratio of 1.98 and a beta of 1.09. Vistra Corp. has a fifty-two week low of $34.88 and a fifty-two week high of $168.67. 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 business has a 50 day moving average price of $132.47 and a 200 day moving average price of $101.77.

Vistra declared that its Board of Directors has initiated a stock 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 shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Vistra Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 20th will be issued a $0.221 dividend. This is a boost 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 0.57%. Vistra’s dividend payout ratio is presently 16.42%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on VST shares. Jefferies Financial Group raised their price target on shares of Vistra from $99.00 to $137.00 and gave the company a “buy” rating in a research report on Tuesday, September 24th. BMO Capital Markets boosted their target price on Vistra from $146.00 to $147.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 29th. Morgan Stanley upped their price target on Vistra from $135.00 to $169.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Guggenheim lifted their price objective on Vistra from $133.00 to $177.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Finally, Royal Bank of Canada upped their target price on shares of 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, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $149.10.

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.