Cinctive Capital Management LP Sells 99,391 Shares of Vistra Corp. (NYSE:VST)

Cinctive Capital Management LP lowered its stake in shares of Vistra Corp. (NYSE:VST) by 20.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 377,570 shares of the company’s stock after selling 99,391 shares during the period. Vistra comprises 2.4% of Cinctive Capital Management LP’s investment portfolio, making the stock its biggest position. Cinctive Capital Management LP owned about 0.11% of Vistra worth $44,757,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of VST. Mark Sheptoff Financial Planning LLC acquired a new position in shares of Vistra during the third quarter valued at approximately $30,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Vistra during the third quarter worth approximately $30,000. CVA Family Office LLC raised 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. RPg Family Wealth Advisory LLC purchased a new position in Vistra in the 3rd quarter valued at $36,000. Finally, Redwood Wealth Management Group LLC acquired a new stake in Vistra during the 2nd quarter worth $26,000. 90.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

VST has been the subject of a number of recent research reports. Jefferies Financial Group increased their target price on shares of Vistra from $99.00 to $137.00 and gave the company a “buy” rating in a research report on Tuesday, September 24th. UBS Group decreased their target price on shares of Vistra from $157.00 to $150.00 and set a “buy” rating on the stock in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. assumed coverage on Vistra in a research report on Thursday, October 17th. They issued an “overweight” rating and a $178.00 price target for the company. BMO Capital Markets increased their price target on Vistra from $146.00 to $147.00 and gave the company an “outperform” rating in a report on Tuesday, October 29th. Finally, Guggenheim boosted their price objective on Vistra from $133.00 to $177.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Ten research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $149.10.

Insider Buying and Selling at Vistra

In other Vistra news, EVP Scott A. Hudson sold 115,000 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $164.16, for a total value of $18,878,400.00. Following the sale, the executive vice president now owns 254,932 shares of the company’s stock, valued at $41,849,637.12. The trade was a 31.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Stephen J. Muscato sold 207,100 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now owns 318,287 shares of the company’s stock, 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. 1.42% of the stock is currently owned by corporate insiders.

Vistra Price Performance

VST stock opened at $159.84 on Monday. Vistra Corp. has a 52-week low of $34.89 and a 52-week high of $168.67. The business has a fifty day moving average of $133.51 and a two-hundred day moving average of $102.37. The stock has a market cap of $54.38 billion, a price-to-earnings ratio of 29.82, a price-to-earnings-growth ratio of 2.05 and a beta of 1.09. The company has a quick ratio of 0.99, a current ratio of 1.11 and a debt-to-equity ratio of 4.68.

Vistra Increases Dividend

The business 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 $0.221 dividend. This is a positive change from Vistra’s previous quarterly dividend of $0.22. This represents a $0.88 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend is Friday, December 20th. Vistra’s payout ratio is 16.42%.

Vistra announced that its board has authorized a stock repurchase program on Thursday, November 7th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to reacquire up to 2.1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

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.