Assetmark Inc. Sells 252,275 Shares of Vistra Corp. (NYSE:VST)

Assetmark Inc. trimmed its position in shares of Vistra Corp. (NYSE:VST) by 13.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,585,442 shares of the company’s stock after selling 252,275 shares during the period. Assetmark Inc. owned approximately 0.46% of Vistra worth $187,938,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in VST. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Vistra during the third quarter worth about $30,000. CVA Family Office LLC lifted its stake in Vistra by 1,505.9% in the 3rd quarter. CVA Family Office LLC now owns 273 shares of the company’s stock valued at $32,000 after purchasing an additional 256 shares during the last quarter. Redwood Wealth Management Group LLC acquired a new stake in Vistra in the second quarter valued at approximately $26,000. ORG Wealth Partners LLC bought a new stake in shares of Vistra during the third quarter worth $40,000. Finally, Fortitude Family Office LLC increased its holdings in shares of Vistra by 125.0% during the third quarter. Fortitude Family Office LLC now owns 360 shares of the company’s stock worth $43,000 after buying an additional 200 shares in the last quarter. Institutional investors own 90.88% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on VST. JPMorgan Chase & Co. began coverage on Vistra in a report on Thursday, October 17th. They set an “overweight” rating and a $178.00 price objective on the stock. Morgan Stanley lifted their price target on Vistra from $110.00 to $132.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. 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. Guggenheim lifted their target price on shares of Vistra from $133.00 to $177.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Finally, BMO Capital Markets upped their price target on shares of Vistra from $146.00 to $147.00 and gave the company an “outperform” rating in a research report on Tuesday, October 29th. Ten research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $145.40.

Vistra Stock Up 4.6 %

Vistra stock opened at $141.91 on Friday. Vistra Corp. has a 52-week low of $34.24 and a 52-week high of $144.77. The company has a debt-to-equity ratio of 2.89, a quick ratio of 0.88 and a current ratio of 0.98. The firm has a 50 day moving average price of $113.05 and a two-hundred day moving average price of $94.80. The firm has a market cap of $48.75 billion, a price-to-earnings ratio of 104.35 and a beta of 1.09.

Vistra (NYSE:VST) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $1.59 by ($0.69). The business had revenue of $3.85 billion for the quarter, compared to analyst estimates of $4.04 billion. Vistra had a return on equity of 21.05% and a net margin of 4.61%. During the same quarter in the previous year, the business posted $1.03 earnings per share. Equities analysts predict that Vistra Corp. will post 4.02 EPS for the current year.

Vistra Increases Dividend

The firm 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 dividend of $0.221 per share. The ex-dividend date is Friday, December 20th. This represents a $0.88 annualized dividend and a yield of 0.62%. This is a boost from Vistra’s previous quarterly dividend of $0.22. Vistra’s dividend payout ratio (DPR) is currently 64.71%.

Vistra declared that its Board of Directors has initiated a stock buyback plan on Thursday, November 7th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 2.1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are 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.