PNC Financial Services Group Inc. Acquires 10,124 Shares of Vistra Corp. (NYSE:VST)

PNC Financial Services Group Inc. boosted its holdings in shares of Vistra Corp. (NYSE:VST) by 90.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 21,291 shares of the company’s stock after purchasing an additional 10,124 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Vistra were worth $2,524,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Redwood Wealth Management Group LLC bought a new position in shares of Vistra during the 2nd quarter valued at about $26,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Vistra during the third quarter valued at approximately $30,000. New Covenant Trust Company N.A. bought a new position in Vistra during the first quarter valued at approximately $32,000. CVA Family Office LLC grew its holdings in Vistra by 1,505.9% during 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 in the last quarter. Finally, EdgeRock Capital LLC bought a new stake in Vistra in the 2nd quarter worth approximately $34,000. 90.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on VST shares. Royal Bank of Canada increased their target price on Vistra from $105.00 to $141.00 and gave the company an “outperform” rating in a research report on Thursday, October 3rd. Morgan Stanley boosted their target price on shares of Vistra from $135.00 to $169.00 and gave the stock an “overweight” rating in a report on Friday. UBS Group lowered their price target on shares of Vistra from $157.00 to $150.00 and set a “buy” rating for the company in a report on Tuesday, October 22nd. Jefferies Financial Group upped their price objective on Vistra from $99.00 to $137.00 and gave the company a “buy” rating in a research report on Tuesday, September 24th. Finally, Guggenheim raised their price objective on Vistra from $133.00 to $177.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Ten investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $149.10.

Vistra Price Performance

Shares of VST stock opened at $154.14 on Tuesday. The stock has a 50 day moving average price of $127.24 and a 200 day moving average price of $100.11. Vistra Corp. has a 52-week low of $34.70 and a 52-week high of $168.67. The company has a debt-to-equity ratio of 4.68, a quick ratio of 0.99 and a current ratio of 1.11. The firm has a market capitalization of $52.44 billion, a P/E ratio of 28.76, a P/E/G ratio of 2.08 and a beta of 1.09.

Vistra Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 20th will be paid a dividend of $0.221 per share. This is a positive change from Vistra’s previous quarterly dividend of $0.22. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date is Friday, December 20th. Vistra’s payout ratio is currently 16.42%.

Vistra announced that its Board of Directors has authorized a share repurchase plan on Thursday, November 7th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 2.1% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

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.