PNC Financial Services Group Inc. Purchases 10,124 Shares of Vistra Corp. (NYSE:VST)

PNC Financial Services Group Inc. raised its position in shares of Vistra Corp. (NYSE:VST) by 90.7% in the third quarter, HoldingsChannel reports. The firm owned 21,291 shares of the company’s stock after acquiring an additional 10,124 shares during the period. PNC Financial Services Group Inc.’s holdings in Vistra were worth $2,524,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Massachusetts Financial Services Co. MA raised its holdings in shares of Vistra by 115.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,532,657 shares of the company’s stock valued at $217,758,000 after acquiring an additional 1,356,488 shares in the last quarter. Thrivent Financial for Lutherans raised its holdings in shares of Vistra by 1,358.2% in the 2nd quarter. Thrivent Financial for Lutherans now owns 1,228,144 shares of the company’s stock valued at $105,596,000 after purchasing an additional 1,143,918 shares in the last quarter. Marshall Wace LLP lifted its position in shares of Vistra by 315.9% in the 2nd quarter. Marshall Wace LLP now owns 1,175,811 shares of the company’s stock worth $101,096,000 after purchasing an additional 893,093 shares during the period. Point72 Asset Management L.P. boosted its stake in shares of Vistra by 121.1% during the second quarter. Point72 Asset Management L.P. now owns 1,536,192 shares of the company’s stock valued at $132,082,000 after purchasing an additional 841,292 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in shares of Vistra by 106.4% during the second quarter. American Century Companies Inc. now owns 1,384,629 shares of the company’s stock valued at $119,050,000 after purchasing an additional 713,705 shares in the last quarter. 90.88% of the stock is currently owned by hedge funds and other institutional investors.

Vistra Stock Down 4.8 %

VST stock opened at $154.14 on Tuesday. The stock has a market capitalization of $52.44 billion, a PE ratio of 28.76, a price-to-earnings-growth ratio of 2.08 and a beta of 1.09. Vistra Corp. has a 52 week low of $34.70 and a 52 week high of $168.67. The company has a quick ratio of 0.99, a current ratio of 1.11 and a debt-to-equity ratio of 4.68. The firm has a 50 day moving average of $127.24 and a 200 day moving average of $100.11.

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

Vistra Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 20th will be paid 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 annualized dividend and a dividend yield of 0.57%. The ex-dividend date is Friday, December 20th. Vistra’s payout ratio is presently 16.42%.

Wall Street Analyst Weigh In

VST has been the subject of a number of analyst reports. Royal Bank of Canada upped their target price on Vistra from $105.00 to $141.00 and gave the stock an “outperform” rating in a report on Thursday, October 3rd. JPMorgan Chase & Co. began coverage on Vistra in a research note on Thursday, October 17th. They set an “overweight” rating and a $178.00 price objective for the company. Guggenheim lifted their target price on Vistra from $133.00 to $177.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Morgan Stanley increased their price target on shares of Vistra from $135.00 to $169.00 and gave the company an “overweight” rating in a research report on Friday. Finally, UBS Group cut their price objective on shares of Vistra from $157.00 to $150.00 and set a “buy” rating on the stock in a research report on Tuesday, October 22nd. Ten analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $149.10.

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.