Forest Avenue Capital Management LP Purchases 190,015 Shares of Vistra Corp. (NYSE:VST)

Forest Avenue Capital Management LP raised its position in shares of Vistra Corp. (NYSE:VST) by 35.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 725,089 shares of the company’s stock after buying an additional 190,015 shares during the period. Vistra comprises 10.4% of Forest Avenue Capital Management LP’s portfolio, making the stock its 2nd biggest position. Forest Avenue Capital Management LP’s holdings in Vistra were worth $85,952,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Redwood Wealth Management Group LLC acquired a new position in Vistra during the 2nd quarter worth about $26,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Vistra in the third quarter worth about $30,000. New Covenant Trust Company N.A. acquired a new position in shares of Vistra during the first quarter worth approximately $32,000. CVA Family Office LLC grew its stake in shares of Vistra by 1,505.9% during the third 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. Finally, EdgeRock Capital LLC bought a new stake in shares of Vistra during the second quarter valued at approximately $34,000. Institutional investors own 90.88% of the company’s stock.

Insider Buying and Selling at Vistra

In other Vistra news, EVP Scott A. Hudson sold 115,000 shares of Vistra stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $164.16, for a total transaction of $18,878,400.00. Following the transaction, the executive vice president now directly owns 254,932 shares in the company, valued at approximately $41,849,637.12. The trade was a 31.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Stephen J. Muscato sold 207,100 shares of the stock in a transaction dated 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.42% of the company’s stock.

Vistra Price Performance

Vistra stock opened at $162.63 on Wednesday. The company has a current ratio of 1.11, a quick ratio of 0.99 and a debt-to-equity ratio of 4.68. The firm has a market capitalization of $55.33 billion, a P/E ratio of 30.34, a PEG ratio of 1.98 and a beta of 1.09. The business has a 50-day moving average of $128.54 and a 200-day moving average of $100.54. Vistra Corp. has a 1 year low of $34.70 and a 1 year high of $168.67.

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 shares. This repurchase authorization allows the company to repurchase up to 2.1% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Vistra Increases Dividend

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

Analysts Set New Price Targets

Several research analysts recently weighed in on VST shares. JPMorgan Chase & Co. initiated coverage on shares of Vistra in a research report on Thursday, October 17th. They issued an “overweight” rating and a $178.00 price objective for the company. Guggenheim boosted their target price on Vistra from $133.00 to $177.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Morgan Stanley raised their price target on Vistra from $135.00 to $169.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. BMO Capital Markets lifted their price objective on Vistra from $146.00 to $147.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 29th. Finally, UBS Group cut their target price 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 equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target 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.