Fifth Third Bancorp grew its position in shares of Vistra Corp. (NYSE:VST – Free Report) by 55.1% in the fourth quarter, HoldingsChannel reports. The firm owned 6,499 shares of the company’s stock after buying an additional 2,309 shares during the quarter. Fifth Third Bancorp’s holdings in Vistra were worth $896,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in VST. Lionsbridge Wealth Management LLC purchased a new position in Vistra during the 4th quarter valued at approximately $277,000. Dakota Wealth Management purchased a new position in shares of Vistra in the fourth quarter valued at $231,000. Empire Life Investments Inc. bought a new stake in Vistra in the third quarter worth $23,028,000. Retirement Systems of Alabama lifted its position in Vistra by 9.6% during the third quarter. Retirement Systems of Alabama now owns 78,965 shares of the company’s stock valued at $9,361,000 after purchasing an additional 6,920 shares during the last quarter. Finally, Terra Nova Asset Management LLC purchased a new position in shares of Vistra in the 3rd quarter worth $842,000. 90.88% of the stock is owned by institutional investors.
Vistra Price Performance
Shares of VST stock opened at $155.35 on Thursday. The company has a market capitalization of $52.85 billion, a P/E ratio of 28.98, a P/E/G ratio of 1.77 and a beta of 1.21. The company’s 50-day simple moving average is $155.91 and its two-hundred day simple moving average is $121.44. Vistra Corp. has a one year low of $40.57 and a one year high of $199.84. The company has a debt-to-equity ratio of 4.68, a current ratio of 1.11 and a quick ratio of 0.99.
Vistra announced that its board has authorized a share repurchase plan on Thursday, November 7th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to purchase 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.
Insider Activity at Vistra
In related news, EVP Stephen J. Muscato sold 207,100 shares of the business’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 completion of the transaction, the executive vice president now owns 318,287 shares of the company’s stock, valued at $51,352,424.58. The trade was a 39.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Scott B. Helm sold 20,000 shares of Vistra stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $139.77, for a total value of $2,795,400.00. Following the completion of the transaction, the director now owns 343,350 shares in the company, valued at $47,990,029.50. This represents a 5.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 342,100 shares of company stock worth $55,087,314 over the last three months. 1.42% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
VST has been the topic of several recent research reports. JPMorgan Chase & Co. started coverage on shares of Vistra in a research report on Thursday, October 17th. They set an “overweight” rating and a $178.00 target price on the stock. Royal Bank of Canada raised their price objective on Vistra from $105.00 to $141.00 and gave the company an “outperform” rating in a research note on Thursday, October 3rd. Morgan Stanley boosted their target price on Vistra from $135.00 to $169.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Bank of America initiated coverage on shares of Vistra in a research note on Monday. They set a “neutral” rating and a $206.00 price objective for the company. Finally, Evercore ISI started coverage on shares of Vistra in a research note on Tuesday, January 21st. They issued an “outperform” rating and a $202.00 target price on the stock. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, Vistra presently has an average rating of “Moderate Buy” and an average target price of $171.64.
Check Out Our Latest Stock Analysis on Vistra
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.
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