Palisade Capital Management LLC NJ Cuts Stake in Vistra Corp. (NYSE:VST)

Palisade Capital Management LLC NJ reduced its position in shares of Vistra Corp. (NYSE:VSTGet Rating) by 26.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 20,826 shares of the company’s stock after selling 7,500 shares during the quarter. Palisade Capital Management LLC NJ’s holdings in Vistra were worth $484,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Qube Research & Technologies Ltd bought a new position in Vistra in the 1st quarter worth $11,272,000. AIA Group Ltd raised its holdings in Vistra by 1,218.8% in the 1st quarter. AIA Group Ltd now owns 63,077 shares of the company’s stock worth $1,467,000 after purchasing an additional 58,294 shares in the last quarter. KBC Group NV raised its holdings in Vistra by 11.7% in the 1st quarter. KBC Group NV now owns 22,665 shares of the company’s stock worth $527,000 after purchasing an additional 2,378 shares in the last quarter. IFM Investors Pty Ltd raised its holdings in Vistra by 39.9% in the 1st quarter. IFM Investors Pty Ltd now owns 57,503 shares of the company’s stock worth $1,337,000 after purchasing an additional 16,395 shares in the last quarter. Finally, Aigen Investment Management LP bought a new position in Vistra in the 1st quarter worth $778,000.

Analysts Set New Price Targets

VST has been the subject of several research reports. Morgan Stanley increased their price target on shares of Vistra from $31.00 to $32.00 and gave the stock an “overweight” rating in a research note on Friday, July 29th. TheStreet downgraded shares of Vistra from a “b-” rating to a “c+” rating in a research report on Tuesday, July 5th.

Insider Activity

In related news, insider Brookfield Asset Management In sold 756,921 shares of the firm’s stock in a transaction on Wednesday, May 11th. The shares were sold at an average price of $24.64, for a total value of $18,650,533.44. Following the completion of the transaction, the insider now directly owns 15,127,011 shares of the company’s stock, valued at $372,729,551.04. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Vistra news, insider Brookfield Asset Management In sold 756,921 shares of Vistra stock in a transaction on Wednesday, May 11th. The shares were sold at an average price of $24.64, for a total transaction of $18,650,533.44. Following the completion of the transaction, the insider now directly owns 15,127,011 shares of the company’s stock, valued at $372,729,551.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Brian K. Ferraioli acquired 6,300 shares of the company’s stock in a transaction on Thursday, June 16th. The shares were purchased at an average cost of $22.60 per share, with a total value of $142,380.00. Following the completion of the purchase, the director now directly owns 26,300 shares of the company’s stock, valued at $594,380. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 76,238 shares of company stock worth $1,776,292 and have sold 2,133,255 shares worth $53,458,282. Company insiders own 1.47% of the company’s stock.

Vistra Price Performance

NYSE VST opened at $24.60 on Friday. Vistra Corp. has a 12 month low of $16.51 and a 12 month high of $27.39. The stock has a market cap of $10.62 billion, a price-to-earnings ratio of 30.37 and a beta of 0.89. The company’s 50 day moving average is $23.93 and its two-hundred day moving average is $23.53. The company has a current ratio of 1.11, a quick ratio of 1.05 and a debt-to-equity ratio of 1.98.

Vistra (NYSE:VSTGet Rating) last released its quarterly earnings data on Friday, May 6th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.29). The company had revenue of $3.13 billion for the quarter, compared to the consensus estimate of $3.71 billion. Vistra had a net margin of 4.03% and a return on equity of 13.60%. As a group, research analysts anticipate that Vistra Corp. will post 1.55 earnings per share for the current year.

Vistra Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Wednesday, September 21st will be given a dividend of $0.184 per share. The ex-dividend date of this dividend is Tuesday, September 20th. This represents a $0.74 annualized dividend and a dividend yield of 2.99%. This is a boost from Vistra’s previous quarterly dividend of $0.18. Vistra’s dividend payout ratio (DPR) is presently 87.65%.

Vistra Company Profile

(Get Rating)

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 20 states in the United States and the District of Columbia.

See Also

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Institutional Ownership by Quarter for Vistra (NYSE:VST)

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