Harvest Fund Management Co. Ltd Lowers Stock Holdings in Vistra Corp. (NYSE:VST)

Harvest Fund Management Co. Ltd cut its holdings in Vistra Corp. (NYSE:VST) by 11.6% in the third quarter, Holdings Channel reports. The institutional investor owned 20,608 shares of the company’s stock after selling 2,708 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Vistra were worth $2,443,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Empire Life Investments Inc. purchased a new stake in Vistra in the 3rd quarter worth $23,028,000. Terra Nova Asset Management LLC purchased a new stake in shares of Vistra during the third quarter worth about $842,000. Czech National Bank raised its position in shares of Vistra by 12.4% during 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 last quarter. CIBC Asset Management Inc lifted its stake in Vistra by 12.4% in the 3rd quarter. CIBC Asset Management Inc now owns 50,380 shares of the company’s stock valued at $5,972,000 after buying an additional 5,575 shares in the last quarter. Finally, Viking Fund Management LLC acquired a new stake in Vistra in the 3rd quarter worth about $1,185,000. 90.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

VST has been the topic of several research reports. JPMorgan Chase & Co. initiated coverage on Vistra in a research report on Thursday, October 17th. They issued an “overweight” rating and a $178.00 target price on the stock. UBS Group decreased their price objective on Vistra from $157.00 to $150.00 and set a “buy” rating on the stock in a report on Tuesday, October 22nd. BNP Paribas started coverage on shares of Vistra in a research note on Monday, October 14th. They set an “outperform” rating and a $231.00 target price on the stock. BMO Capital Markets increased their target price on shares of Vistra from $146.00 to $147.00 and gave the company an “outperform” rating in a research report on Tuesday, October 29th. Finally, Morgan Stanley boosted their price target on shares of Vistra from $135.00 to $169.00 and gave the stock an “overweight” rating in a research report on Friday. Ten investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Vistra has an average rating of “Buy” and an average price target of $149.10.

Vistra Price Performance

Vistra stock opened at $161.92 on Monday. The stock has a market cap of $55.09 billion, a P/E ratio of 30.21, a PEG ratio of 2.08 and a beta of 1.09. The company has a current ratio of 1.11, a quick ratio of 0.99 and a debt-to-equity ratio of 4.68. The company has a 50-day moving average price of $127.24 and a 200 day moving average price of $100.11. Vistra Corp. has a 12-month low of $34.61 and a 12-month high of $168.67.

Vistra Increases Dividend

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

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

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.