Avala Global LP Invests $38.66 Million in Vistra Corp. (NYSE:VST)

Avala Global LP bought a new position in Vistra Corp. (NYSE:VST) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 326,100 shares of the company’s stock, valued at approximately $38,656,000. Vistra makes up about 2.5% of Avala Global LP’s portfolio, making the stock its 18th largest holding. Avala Global LP owned about 0.10% of Vistra as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in VST. Lone Pine Capital LLC grew its position in Vistra by 6.6% during the second quarter. Lone Pine Capital LLC now owns 6,838,007 shares of the company’s stock valued at $587,932,000 after purchasing an additional 425,126 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in Vistra by 51.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,826,631 shares of the company’s stock valued at $453,609,000 after purchasing an additional 1,293,974 shares in the last quarter. Castle Hook Partners LP grew its position in Vistra by 33.5% during the third quarter. Castle Hook Partners LP now owns 2,610,273 shares of the company’s stock valued at $309,422,000 after purchasing an additional 654,568 shares in the last quarter. Rubric Capital Management LP grew its position in Vistra by 60.1% during the third quarter. Rubric Capital Management LP now owns 2,125,000 shares of the company’s stock valued at $251,898,000 after purchasing an additional 797,894 shares in the last quarter. Finally, Thrivent Financial for Lutherans grew its position in Vistra by 43.0% during the third quarter. Thrivent Financial for Lutherans now owns 1,755,723 shares of the company’s stock valued at $208,122,000 after purchasing an additional 527,579 shares in the last quarter. 90.88% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Stephen J. Muscato sold 207,100 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $161.34, for a total transaction of $33,413,514.00. Following the transaction, the executive vice president now owns 318,287 shares of the company’s stock, valued at approximately $51,352,424.58. The trade was a 39.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Scott A. Hudson sold 115,000 shares of the business’s stock in a transaction on 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 $41,849,637.12. This trade represents a 31.09 % decrease in their position. The disclosure for this sale can be found here. 1.42% of the stock is currently owned by insiders.

Analysts Set New Price Targets

VST has been the subject of a number of analyst reports. Jefferies Financial Group lifted their target price on shares of Vistra from $99.00 to $137.00 and gave the company a “buy” rating in a research note on Tuesday, September 24th. BNP Paribas initiated coverage on shares of Vistra in a research note on Monday, October 14th. They issued an “outperform” rating and a $231.00 target price for the company. UBS Group reduced their target price on shares of Vistra from $157.00 to $150.00 and set a “buy” rating for the company in a research note on Tuesday, October 22nd. BMO Capital Markets lifted their target price on shares of Vistra from $146.00 to $147.00 and gave the company an “outperform” rating in a research note on Tuesday, October 29th. Finally, Morgan Stanley lifted 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. Ten equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $149.10.

Vistra Price Performance

Shares of Vistra stock opened at $159.84 on Monday. The firm has a fifty day simple moving average of $133.51 and a 200-day simple moving average of $102.33. The company has a current ratio of 1.11, a quick ratio of 0.99 and a debt-to-equity ratio of 4.68. Vistra Corp. has a 1-year low of $34.89 and a 1-year high of $168.67. The stock has a market capitalization of $54.38 billion, a price-to-earnings ratio of 29.82, a PEG ratio of 2.05 and a beta of 1.09.

Vistra declared that its Board of Directors has initiated a share buyback program on Thursday, November 7th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 2.1% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its stock is undervalued.

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 given 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 0.55%. This is a positive change from Vistra’s previous quarterly dividend of $0.22. Vistra’s payout ratio is 16.42%.

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.