M&T Bank Corp Grows Stock Holdings in Vistra Corp. (NYSE:VST)

Posted by Defense World Staff on Jun 5th, 2023

M&T Bank Corp raised its position in shares of Vistra Corp. (NYSE:VST – Get Rating) by 9.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 15,703 shares of the company’s stock after buying an additional 1,407 shares during the quarter. M&T Bank Corp’s holdings in Vistra were worth $367,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Vistra by 2.2% during the first quarter. Vanguard Group Inc. now owns 47,604,079 shares of the company’s stock valued at $1,106,795,000 after acquiring an additional 1,023,500 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Vistra by 2.3% during the first quarter. BlackRock Inc. now owns 23,939,759 shares of the company’s stock valued at $556,597,000 after acquiring an additional 534,299 shares in the last quarter. Laurion Capital Management LP increased its holdings in shares of Vistra by 10.5% during the third quarter. Laurion Capital Management LP now owns 10,608,579 shares of the company’s stock valued at $222,780,000 after acquiring an additional 1,010,267 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Vistra by 2.3% during the third quarter. Dimensional Fund Advisors LP now owns 7,498,474 shares of the company’s stock valued at $157,480,000 after acquiring an additional 171,575 shares in the last quarter. Finally, Neuberger Berman Group LLC increased its holdings in shares of Vistra by 1.8% during the third quarter. Neuberger Berman Group LLC now owns 5,046,916 shares of the company’s stock valued at $106,041,000 after acquiring an additional 88,006 shares in the last quarter. 92.47% of the stock is owned by hedge funds and other institutional investors.

Vistra Price Performance

Shares of NYSE:VST opened at $24.72 on Monday. Vistra Corp. has a twelve month low of $20.76 and a twelve month high of $27.39. The company’s 50 day moving average is $24.04 and its 200 day moving average is $23.61. The company has a current ratio of 1.17, a quick ratio of 1.09 and a debt-to-equity ratio of 3.71. The company has a market cap of $9.22 billion, a PE ratio of -31.69 and a beta of 0.96.

Vistra (NYSE:VST – Get Rating) last released its quarterly earnings data on Tuesday, May 9th. The company reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.30). Vistra had a positive return on equity of 30.40% and a negative net margin of 1.62%. The company had revenue of $4.43 billion during the quarter, compared to analysts’ expectations of $417.60 million. On average, sell-side analysts forecast that Vistra Corp. will post 2.77 EPS for the current year.

Vistra Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Wednesday, June 21st will be given a $0.204 dividend. This represents a $0.82 annualized dividend and a yield of 3.30%. The ex-dividend date of this dividend is Tuesday, June 20th. This is a positive change from Vistra’s previous quarterly dividend of $0.20. Vistra’s dividend payout ratio is currently -101.28%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on VST. Morgan Stanley upped their price objective on shares of Vistra from $30.00 to $31.00 and gave the company an “overweight” rating in a report on Tuesday, March 21st. BMO Capital Markets increased their price target on shares of Vistra from $32.00 to $35.00 and gave the stock an “outperform” rating in a report on Tuesday, March 7th. Finally, TheStreet downgraded shares of Vistra from a “b-” rating to a “c” rating in a report on Wednesday, March 1st.

Insiders Place Their Bets

In related news, Director Scott B. Helm acquired 11,000 shares of the stock in a transaction on Friday, March 17th. The shares were acquired at an average price of $24.72 per share, for a total transaction of $271,920.00. Following the transaction, the director now owns 369,201 shares in the company, valued at approximately $9,126,648.72. The purchase was disclosed in a filing with the SEC, which is available through this link. In other Vistra news, Director Scott B. Helm bought 11,000 shares of the firm’s stock in a transaction dated Friday, March 17th. The shares were purchased at an average price of $24.72 per share, for a total transaction of $271,920.00. Following the transaction, the director now directly owns 369,201 shares of the company’s stock, valued at approximately $9,126,648.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO James A. Burke bought 5,000 shares of the firm’s stock in a transaction dated Thursday, March 23rd. The shares were acquired at an average price of $24.05 per share, for a total transaction of $120,250.00. Following the transaction, the chief executive officer now directly owns 463,899 shares in the company, valued at $11,156,770.95. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 34,000 shares of company stock worth $852,970. Corporate insiders own 1.36% of the company’s stock.

Vistra Company Profile

(Get Rating)

Vistra Corp. is a holding company, which engages in the provision of electricity and power generation. It operates through the following segments: Retail, Texas, East, West, Sunset, and Asset Closure. The Retail segment sells electricity and natural gas to residential, commercial, and industrial customers.