Fred Alger Management LLC Cuts Stock Holdings in Vistra Corp. $VST

Fred Alger Management LLC decreased its holdings in shares of Vistra Corp. (NYSE:VST) by 31.9% during the fourth quarter, HoldingsChannel reports. The firm owned 949,840 shares of the company’s stock after selling 444,767 shares during the period. Vistra comprises 0.6% of Fred Alger Management LLC’s portfolio, making the stock its 29th largest holding. Fred Alger Management LLC’s holdings in Vistra were worth $153,238,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Bridgewater Advisors Inc. increased its position in Vistra by 3.1% during the 3rd quarter. Bridgewater Advisors Inc. now owns 1,787 shares of the company’s stock valued at $350,000 after purchasing an additional 53 shares during the period. Y.D. More Investments Ltd increased its position in Vistra by 7.1% during the 3rd quarter. Y.D. More Investments Ltd now owns 916 shares of the company’s stock valued at $168,000 after purchasing an additional 61 shares during the period. Equitable Holdings Inc. increased its position in Vistra by 0.9% during the 3rd quarter. Equitable Holdings Inc. now owns 7,045 shares of the company’s stock valued at $1,380,000 after purchasing an additional 61 shares during the period. SOA Wealth Advisors LLC. increased its position in Vistra by 21.7% during the 4th quarter. SOA Wealth Advisors LLC. now owns 365 shares of the company’s stock valued at $59,000 after purchasing an additional 65 shares during the period. Finally, UMB Bank n.a. increased its position in Vistra by 3.8% during the 4th quarter. UMB Bank n.a. now owns 1,770 shares of the company’s stock valued at $286,000 after purchasing an additional 65 shares during the period. Hedge funds and other institutional investors own 90.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Raymond James Financial set a $208.00 target price on shares of Vistra in a research report on Monday, April 27th. Wells Fargo & Company cut their target price on shares of Vistra from $236.00 to $234.00 and set an “overweight” rating on the stock in a research report on Friday, February 27th. JPMorgan Chase & Co. cut their target price on shares of Vistra from $240.00 to $231.00 and set an “overweight” rating on the stock in a research report on Thursday, April 30th. TD Cowen cut their target price on shares of Vistra from $253.00 to $230.00 and set a “buy” rating on the stock in a research report on Monday, May 4th. Finally, Sanford C. Bernstein set a $187.00 target price on shares of Vistra in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $230.44.

Insider Activity at Vistra

In other Vistra news, CAO Margaret Montemayor sold 4,600 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $160.00, for a total transaction of $736,000.00. Following the sale, the chief accounting officer owned 9,760 shares of the company’s stock, valued at approximately $1,561,600. The trade was a 32.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Paul M. Barbas sold 244 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $153.00, for a total transaction of $37,332.00. Following the sale, the director directly owned 53,006 shares in the company, valued at approximately $8,109,918. This represents a 0.46% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 10,088 shares of company stock worth $1,634,227. 0.92% of the stock is owned by insiders.

Vistra Stock Up 3.3%

Shares of Vistra stock opened at $158.53 on Wednesday. The firm’s 50 day moving average price is $153.72 and its 200-day moving average price is $159.85. The company has a quick ratio of 0.79, a current ratio of 0.90 and a debt-to-equity ratio of 5.51. Vistra Corp. has a 52-week low of $132.66 and a 52-week high of $219.82. The company has a market cap of $53.45 billion, a P/E ratio of 26.55 and a beta of 1.40.

Vistra (NYSE:VST) last issued its quarterly earnings data on Thursday, May 7th. The company reported $2.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.32 by $1.55. Vistra had a net margin of 11.52% and a return on equity of 105.64%. The firm had revenue of $5.64 billion for the quarter, compared to the consensus estimate of $5.22 billion. On average, sell-side analysts predict that Vistra Corp. will post 9.31 EPS for the current fiscal year.

Vistra Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 22nd will be given a dividend of $0.229 per share. The ex-dividend date of this dividend is Monday, June 22nd. This represents a $0.92 annualized dividend and a yield of 0.6%. This is a boost from Vistra’s previous quarterly dividend of $0.23. Vistra’s payout ratio is presently 15.24%.

Vistra Company Profile

Vistra (NYSE: VST) is an integrated power company that develops, owns and operates electricity generation and retail businesses in the United States. The company’s operations span wholesale power production—through a diversified fleet of thermal and lower‑carbon generation assets—and retail electricity supply to residential, commercial and industrial customers. Vistra serves organized wholesale markets and competitive retail markets, with a notable presence in Texas and other regional U.S. power markets.

Vistra’s core activities include the ownership and operation of generation facilities, the commercial dispatch and optimization of those assets into wholesale markets, and the sale of electricity and related services to end-use customers through its retail brands.