Vistra (NYSE:VST) Shares Down 3.6% Following Insider Selling

Vistra Corp. (NYSE:VST)’s stock price was down 3.6% during mid-day trading on Wednesday following insider selling activity. The stock traded as low as $155.35 and last traded at $156.80. Approximately 1,308,796 shares were traded during trading, a decline of 81% from the average daily volume of 6,867,301 shares. The stock had previously closed at $162.66.

Specifically, EVP Scott A. Hudson sold 115,000 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $164.16, for a total value of $18,878,400.00. Following the completion of the transaction, the executive vice president now directly owns 254,932 shares in the company, valued at $41,849,637.12. This represents a 31.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Stephen J. Muscato sold 207,100 shares of the business’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 completion of the transaction, the executive vice president now directly owns 318,287 shares in the company, valued at approximately $51,352,424.58. This represents a 39.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on VST. UBS Group cut their price objective on Vistra from $157.00 to $150.00 and set a “buy” rating for the company in a research report on Tuesday, October 22nd. Morgan Stanley increased their target price on shares of Vistra from $135.00 to $169.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Jefferies Financial Group boosted their price objective on Vistra from $99.00 to $137.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. Royal Bank of Canada raised their target price on shares of Vistra from $105.00 to $141.00 and gave the stock an “outperform” rating in a research report on Thursday, October 3rd. Finally, BNP Paribas assumed coverage on Vistra in a report on Monday, October 14th. They issued an “outperform” rating and a $231.00 price objective for the company. Ten investment analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $149.10.

Vistra Trading Down 5.0 %

The company has a debt-to-equity ratio of 4.68, a quick ratio of 0.99 and a current ratio of 1.11. The stock has a market capitalization of $52.57 billion, a PE ratio of 28.83, a P/E/G ratio of 1.98 and a beta of 1.09. The company has a 50 day moving average of $131.23 and a two-hundred day moving average of $101.40.

Vistra Increases Dividend

The business 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. The ex-dividend date of this dividend is Friday, December 20th. This is a boost from Vistra’s previous quarterly dividend of $0.22. This represents a $0.88 dividend on an annualized basis and a yield of 0.57%. Vistra’s dividend payout ratio (DPR) is 16.42%.

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

Institutional Trading of Vistra

Several large investors have recently added to or reduced their stakes in the company. Empire Life Investments Inc. acquired a new stake in Vistra during the 3rd quarter worth about $23,028,000. Terra Nova Asset Management LLC acquired a new position in shares of Vistra during the 3rd quarter worth approximately $842,000. Czech National Bank lifted its holdings in Vistra by 12.4% during the third quarter. Czech National Bank now owns 69,987 shares of the company’s stock valued at $8,296,000 after purchasing an additional 7,747 shares in the last quarter. CIBC Asset Management Inc grew its position in shares of Vistra by 12.4% in the third quarter. CIBC Asset Management Inc now owns 50,380 shares of the company’s stock valued at $5,972,000 after purchasing an additional 5,575 shares during the period. Finally, Viking Fund Management LLC purchased a new stake in shares of Vistra during the third quarter worth about $1,185,000. Hedge funds and other institutional investors own 90.88% of the company’s stock.

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.