150,000 Shares in Vistra Corp. (NYSE:VST) Purchased by First Sabrepoint Capital Management LP

First Sabrepoint Capital Management LP bought a new position in shares of Vistra Corp. (NYSE:VST) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 150,000 shares of the company’s stock, valued at approximately $17,781,000. Vistra accounts for 5.2% of First Sabrepoint Capital Management LP’s portfolio, making the stock its 2nd largest position.

Several other institutional investors have also recently made changes to their positions in VST. State Street Corp lifted its position in Vistra by 6.8% during the 3rd quarter. State Street Corp now owns 16,355,255 shares of the company’s stock valued at $1,938,752,000 after acquiring an additional 1,037,402 shares during the period. Lone Pine Capital LLC boosted its position in shares of Vistra by 6.6% in the 2nd quarter. Lone Pine Capital LLC now owns 6,838,007 shares of the company’s stock worth $587,932,000 after purchasing an additional 425,126 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Vistra by 51.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,826,631 shares of the company’s stock worth $453,609,000 after buying an additional 1,293,974 shares during the last quarter. Janus Henderson Group PLC increased its position in Vistra by 36.0% during the 3rd quarter. Janus Henderson Group PLC now owns 3,781,908 shares of the company’s stock valued at $448,320,000 after buying an additional 1,000,307 shares in the last quarter. Finally, Castle Hook Partners LP raised its stake in Vistra by 33.5% during the third quarter. Castle Hook Partners LP now owns 2,610,273 shares of the company’s stock valued at $309,422,000 after buying an additional 654,568 shares during the last quarter. Institutional investors own 90.88% of the company’s stock.

Insider Buying and Selling at Vistra

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

Vistra Trading Down 7.3 %

Shares of VST stock opened at $148.38 on Tuesday. The stock’s 50-day moving average price is $138.42 and its 200-day moving average price is $105.01. Vistra Corp. has a 12-month low of $36.47 and a 12-month high of $168.67. The stock has a market capitalization of $50.48 billion, a price-to-earnings ratio of 27.68, a price-to-earnings-growth ratio of 2.05 and a beta of 1.16. The company has a current ratio of 1.11, a quick ratio of 0.99 and a debt-to-equity ratio of 4.68.

Vistra announced that its Board of Directors has authorized a stock repurchase program on Thursday, November 7th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 2.1% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

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 dividend of $0.221 per share. This is an increase from Vistra’s previous quarterly dividend of $0.22. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date is Friday, December 20th. Vistra’s dividend payout ratio is currently 16.42%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. BMO Capital Markets lifted their price target on Vistra from $146.00 to $147.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 29th. UBS Group cut their target price on shares of Vistra from $157.00 to $150.00 and set a “buy” rating for the company in a research report on Tuesday, October 22nd. Royal Bank of Canada raised their price target on Vistra from $105.00 to $141.00 and gave the stock an “outperform” rating in a research note on Thursday, October 3rd. Jefferies Financial Group boosted their price objective on Vistra from $99.00 to $137.00 and gave the company a “buy” rating in a research note on Tuesday, September 24th. Finally, JPMorgan Chase & Co. started coverage on shares of Vistra in a research report on Thursday, October 17th. They set an “overweight” rating and a $178.00 price objective on the stock. Ten equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $149.10.

Vistra Company 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.