Carmel Capital Management L.L.C. Reduces Position in Vistra Corp. (NYSE:VST)

Carmel Capital Management L.L.C. reduced its stake in shares of Vistra Corp. (NYSE:VST) by 4.0% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 255,439 shares of the company’s stock after selling 10,650 shares during the period. Vistra comprises approximately 13.3% of Carmel Capital Management L.L.C.’s portfolio, making the stock its 2nd biggest position. Carmel Capital Management L.L.C.’s holdings in Vistra were worth $35,217,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Avior Wealth Management LLC increased its position in shares of Vistra by 56.5% during the fourth quarter. Avior Wealth Management LLC now owns 180 shares of the company’s stock valued at $25,000 after acquiring an additional 65 shares during the last quarter. Founders Capital Management bought a new position in Vistra in the 4th quarter valued at $28,000. West Branch Capital LLC purchased a new stake in shares of Vistra during the 4th quarter valued at $28,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Vistra during the 3rd quarter worth $30,000. Finally, Mark Sheptoff Financial Planning LLC purchased a new position in shares of Vistra in the 3rd quarter worth about $30,000. 90.88% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Vistra

In other Vistra news, EVP Stephen J. Muscato sold 207,100 shares of the firm’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 sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Scott B. Helm sold 20,000 shares of the company’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $139.77, for a total value of $2,795,400.00. Following the completion of the transaction, the director now owns 343,350 shares of the company’s stock, valued at $47,990,029.50. The trade was a 5.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 342,100 shares of company stock valued at $55,087,314 in the last quarter. Insiders own 1.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Evercore ISI began coverage on shares of Vistra in a report on Tuesday. They set an “outperform” rating and a $202.00 price objective for the company. UBS Group raised their price target on shares of Vistra from $161.00 to $174.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Royal Bank of Canada upped their price objective on Vistra from $105.00 to $141.00 and gave the company an “outperform” rating in a research note on Thursday, October 3rd. Morgan Stanley raised their target price on Vistra from $135.00 to $169.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Finally, BMO Capital Markets boosted their target price on Vistra from $151.00 to $191.00 and gave the company an “outperform” rating in a research note on Wednesday. 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 an average target price of $168.20.

Vistra Stock Up 2.6 %

VST stock opened at $191.70 on Friday. The stock has a 50-day simple moving average of $155.22 and a two-hundred day simple moving average of $119.39. Vistra Corp. has a twelve month low of $39.13 and a twelve month high of $199.84. The firm has a market capitalization of $65.22 billion, a PE ratio of 35.76, a PEG ratio of 1.77 and a beta of 1.21. The company has a quick ratio of 0.99, a current ratio of 1.11 and a debt-to-equity ratio of 4.68.

Vistra (NYSE:VST) last posted its earnings results on Thursday, November 7th. The company reported $5.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.24 by $4.01. The business had revenue of $6.29 billion for the quarter, compared to analyst estimates of $4.96 billion. Vistra had a net margin of 12.51% and a return on equity of 57.63%. During the same quarter in the prior year, the firm posted $1.25 EPS. On average, equities analysts predict that Vistra Corp. will post 4.48 EPS for the current fiscal year.

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

Vistra Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 20th were paid a $0.221 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date was Friday, December 20th. This is a boost from Vistra’s previous quarterly dividend of $0.22. Vistra’s payout ratio is currently 16.60%.

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.