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

Assetmark Inc. decreased its position in shares of Vistra Corp. (NYSE:VST) by 13.7% in the 3rd quarter, HoldingsChannel reports. The fund owned 1,585,442 shares of the company’s stock after selling 252,275 shares during the period. Assetmark Inc.’s holdings in Vistra were worth $187,938,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Redwood Wealth Management Group LLC purchased a new position in shares of Vistra during the second quarter valued at approximately $26,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Vistra during the third quarter valued at about $30,000. New Covenant Trust Company N.A. purchased a new position in Vistra during the first quarter worth about $32,000. CVA Family Office LLC grew its position in Vistra by 1,505.9% in the 3rd quarter. CVA Family Office LLC now owns 273 shares of the company’s stock worth $32,000 after purchasing an additional 256 shares in the last quarter. Finally, EdgeRock Capital LLC purchased a new stake in Vistra in the 2nd quarter valued at about $34,000. Institutional investors and hedge funds own 90.88% of the company’s stock.

Vistra Trading Up 4.6 %

Shares of VST opened at $141.91 on Friday. The firm has a market cap of $48.75 billion, a P/E ratio of 104.35 and a beta of 1.09. Vistra Corp. has a fifty-two week low of $34.24 and a fifty-two 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 business has a 50-day moving average of $113.05 and a 200 day moving average of $94.80.

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

Vistra declared that its Board of Directors has approved a stock buyback plan on Thursday, November 7th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to repurchase up to 2.1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors 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 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 payout ratio is currently 64.71%.

Analysts Set New Price Targets

VST has been the topic of a number of research analyst reports. Guggenheim boosted their target price on Vistra from $133.00 to $177.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Royal Bank of Canada boosted their price objective on Vistra from $105.00 to $141.00 and gave the stock an “outperform” rating in a research report on Thursday, October 3rd. Morgan Stanley raised their target price on Vistra from $110.00 to $132.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. Jefferies Financial Group boosted their price target on shares of Vistra from $99.00 to $137.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. Finally, BMO Capital Markets increased 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 analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $145.40.

Vistra 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.