MetLife Investment Management LLC Acquires 1,624 Shares of Vistra Corp. (NYSE:VST)

MetLife Investment Management LLC grew its holdings in Vistra Corp. (NYSE:VST) by 1.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 105,032 shares of the company’s stock after buying an additional 1,624 shares during the period. MetLife Investment Management LLC’s holdings in Vistra were worth $12,450,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Redwood Wealth Management Group LLC acquired a new stake in Vistra during the 2nd quarter valued at $26,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Vistra during the 3rd quarter worth about $30,000. New Covenant Trust Company N.A. bought a new stake in shares of Vistra during the 1st quarter worth about $32,000. CVA Family Office LLC grew 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 buying an additional 256 shares during the last quarter. Finally, EdgeRock Capital LLC bought a new position in Vistra in the 2nd quarter valued at about $34,000. 90.88% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Vistra

In other news, EVP Stephen J. Muscato sold 207,100 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $161.34, for a total value of $33,413,514.00. Following the sale, the executive vice president now directly owns 318,287 shares in the company, valued at approximately $51,352,424.58. This trade represents a 39.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Scott A. Hudson sold 115,000 shares of Vistra stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $164.16, for a total transaction of $18,878,400.00. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.42% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on VST. BMO Capital Markets boosted their price objective on Vistra from $146.00 to $147.00 and gave the stock an “outperform” rating in a report on Tuesday, October 29th. Guggenheim upped their price objective on Vistra from $133.00 to $177.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Royal Bank of Canada lifted their target price on Vistra from $105.00 to $141.00 and gave the stock an “outperform” rating in a report on Thursday, October 3rd. Morgan Stanley upped their price target 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. Finally, Jefferies Financial Group lifted their price objective on shares of Vistra from $99.00 to $137.00 and gave the stock a “buy” rating in a research note on Tuesday, September 24th. Ten research analysts have rated the stock with a buy rating, According to data from MarketBeat, Vistra currently has a consensus rating of “Buy” and a consensus target price of $149.10.

Vistra Price Performance

VST stock opened at $154.54 on Thursday. The company’s 50-day moving average price is $129.97 and its two-hundred day moving average price is $101.03. The firm has a market cap of $52.58 billion, a P/E ratio of 28.83, a P/E/G ratio of 1.98 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 Corp. has a 12 month low of $34.88 and a 12 month high of $168.67.

Vistra declared that its Board of Directors has initiated a stock repurchase program on Thursday, November 7th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to purchase up to 2.1% of its stock through open market purchases. Stock buyback programs are usually 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 paid a $0.221 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 0.57%. This is a boost from Vistra’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Friday, December 20th. Vistra’s dividend payout ratio (DPR) is 16.42%.

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.