Principal Street Partners LLC Sells 10,068 Shares of Vistra Corp. (NYSE:VST)

Principal Street Partners LLC cut its stake in shares of Vistra Corp. (NYSE:VST) by 79.8% during the third quarter, HoldingsChannel reports. The firm owned 2,552 shares of the company’s stock after selling 10,068 shares during the quarter. Principal Street Partners LLC’s holdings in Vistra were worth $303,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Advisors Asset Management Inc. lifted its stake in shares of Vistra by 44.0% during the 1st quarter. Advisors Asset Management Inc. now owns 10,758 shares of the company’s stock worth $749,000 after acquiring an additional 3,288 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Vistra by 17.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 640,976 shares of the company’s stock worth $44,645,000 after purchasing an additional 94,842 shares during the last quarter. Castleark Management LLC purchased a new stake in shares of Vistra during the first quarter valued at $297,000. iA Global Asset Management Inc. boosted its position in Vistra by 1,493.6% in the 1st quarter. iA Global Asset Management Inc. now owns 114,259 shares of the company’s stock valued at $7,958,000 after buying an additional 107,089 shares during the period. Finally, New Covenant Trust Company N.A. bought a new stake in Vistra during the 1st quarter valued at $32,000. 90.88% of the stock is owned by institutional investors.

Vistra Price Performance

NYSE VST opened at $162.63 on Wednesday. The company has a market cap of $55.33 billion, a price-to-earnings ratio of 30.34, a PEG ratio of 1.98 and a beta of 1.09. 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 fifty day moving average price is $128.54 and its 200 day moving average price is $100.54. Vistra Corp. has a 1 year low of $34.70 and a 1 year high of $168.67.

Vistra declared 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 outstanding shares. This buyback authorization allows the company to reacquire up to 2.1% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Vistra Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 20th will be given a dividend of $0.221 per share. The ex-dividend date of this dividend is Friday, December 20th. 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 0.54%. Vistra’s dividend payout ratio (DPR) is currently 16.42%.

Insider Transactions at Vistra

In other Vistra news, EVP Scott A. Hudson sold 115,000 shares of Vistra stock in a transaction on Monday, November 25th. The shares were sold at an average price of $164.16, for a total value of $18,878,400.00. Following the completion of the transaction, the executive vice president now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Stephen J. Muscato sold 207,100 shares of the company’s stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 318,287 shares of the company’s stock, 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. Company insiders own 1.42% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. BMO Capital Markets boosted their price target on shares of Vistra from $146.00 to $147.00 and gave the company an “outperform” rating in a report on Tuesday, October 29th. UBS Group reduced their price objective on shares of Vistra from $157.00 to $150.00 and set a “buy” rating for the company in a research note on Tuesday, October 22nd. Jefferies Financial Group upped their target price on Vistra from $99.00 to $137.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. JPMorgan Chase & Co. assumed coverage on Vistra in a report on Thursday, October 17th. They issued an “overweight” rating and a $178.00 price target on the stock. Finally, Morgan Stanley raised their price objective on Vistra from $135.00 to $169.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Ten research 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 price target of $149.10.

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.