Vistra Corp. (NYSE:VST) is Forest Avenue Capital Management LP’s 2nd Largest Position

Forest Avenue Capital Management LP lifted its position in Vistra Corp. (NYSE:VST) by 35.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 725,089 shares of the company’s stock after buying an additional 190,015 shares during the quarter. Vistra comprises 10.4% of Forest Avenue Capital Management LP’s investment portfolio, making the stock its 2nd largest holding. Forest Avenue Capital Management LP owned 0.21% of Vistra worth $85,952,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Forum Financial Management LP boosted its stake in shares of Vistra by 0.7% during the 3rd quarter. Forum Financial Management LP now owns 11,527 shares of the company’s stock worth $1,366,000 after acquiring an additional 80 shares in the last quarter. Umpqua Bank lifted its holdings in Vistra by 2.2% in the 3rd quarter. Umpqua Bank now owns 3,780 shares of the company’s stock worth $448,000 after purchasing an additional 81 shares during the last quarter. OneDigital Investment Advisors LLC boosted its position in Vistra by 3.0% during the third quarter. OneDigital Investment Advisors LLC now owns 2,809 shares of the company’s stock worth $333,000 after purchasing an additional 81 shares during the period. Douglass Winthrop Advisors LLC grew its holdings in Vistra by 0.9% during the third quarter. Douglass Winthrop Advisors LLC now owns 11,335 shares of the company’s stock valued at $1,344,000 after purchasing an additional 100 shares during the last quarter. Finally, Interchange Capital Partners LLC raised its position in shares of Vistra by 4.2% in the third quarter. Interchange Capital Partners LLC now owns 2,710 shares of the company’s stock valued at $321,000 after purchasing an additional 109 shares during the period. Institutional investors and hedge funds own 90.88% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on VST shares. UBS Group decreased their price objective on shares of Vistra from $157.00 to $150.00 and set a “buy” rating for the company in a report on Tuesday, October 22nd. Royal Bank of Canada upped their price target on shares of Vistra from $105.00 to $141.00 and gave the company an “outperform” rating in a report on Thursday, October 3rd. Jefferies Financial Group lifted their price objective on Vistra from $99.00 to $137.00 and gave the stock a “buy” rating in a research note on Tuesday, September 24th. Guggenheim boosted their price objective on Vistra from $133.00 to $177.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Finally, Morgan Stanley raised their target price on Vistra from $135.00 to $169.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Ten analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $149.10.

Insider Buying and Selling

In other news, EVP Scott A. Hudson sold 115,000 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 254,932 shares in the company, valued at approximately $41,849,637.12. This represents a 31.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Stephen J. Muscato sold 207,100 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $161.34, for a total value of $33,413,514.00. Following the transaction, the executive vice president now owns 318,287 shares of the company’s stock, 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 Up 5.5 %

Shares of VST opened at $162.63 on Wednesday. The stock’s 50-day moving average price is $128.54 and its 200 day moving average price is $100.54. 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 Corp. has a 12-month low of $34.70 and a 12-month high of $168.67. The firm has a market capitalization of $55.33 billion, a price-to-earnings ratio of 30.34, a P/E/G ratio of 1.98 and a beta of 1.09.

Vistra Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 20th will be paid a $0.221 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.54%. This is a positive change from Vistra’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Friday, December 20th. Vistra’s dividend payout ratio is presently 16.42%.

Vistra declared that its board has initiated a stock repurchase program on Thursday, November 7th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 2.1% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

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.