Franklin Resources Inc. Reduces Holdings in Vistra Corp. (NYSE:VST)

Franklin Resources Inc. trimmed its holdings in Vistra Corp. (NYSE:VST) by 7.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,333,380 shares of the company’s stock after selling 253,359 shares during the quarter. Franklin Resources Inc. owned approximately 0.98% of Vistra worth $395,139,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the business. Empire Life Investments Inc. purchased a new stake in Vistra during the third quarter worth about $23,028,000. Terra Nova Asset Management LLC purchased a new stake in shares of Vistra during the third quarter worth about $842,000. Czech National Bank raised its holdings in Vistra by 12.4% in the 3rd quarter. Czech National Bank now owns 69,987 shares of the company’s stock valued at $8,296,000 after acquiring an additional 7,747 shares during the last quarter. First Sabrepoint Capital Management LP purchased a new position in Vistra during the third quarter worth about $17,781,000. Finally, CIBC Asset Management Inc grew its stake in shares of Vistra by 12.4% during the 3rd quarter. CIBC Asset Management Inc now owns 50,380 shares of the company’s stock valued at $5,972,000 after buying an additional 5,575 shares during the period. 90.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on VST. Guggenheim increased their price objective on shares of Vistra from $133.00 to $177.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. UBS Group reduced their price objective on Vistra from $157.00 to $150.00 and set a “buy” rating on the stock in a research note on Tuesday, October 22nd. BMO Capital Markets increased their price target on Vistra from $146.00 to $147.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 29th. Morgan Stanley increased their price objective on Vistra from $135.00 to $169.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Finally, Jefferies Financial Group upped their price target 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 investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Vistra has a consensus rating of “Buy” and an average price target of $149.10.

Insider Transactions at Vistra

In related news, Director Scott B. Helm sold 20,000 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $139.77, for a total value of $2,795,400.00. Following the sale, the director now owns 343,350 shares in the company, valued at approximately $47,990,029.50. This represents a 5.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Scott A. Hudson sold 115,000 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was 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 owns 254,932 shares of the company’s stock, 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. Insiders sold 342,100 shares of company stock valued at $55,087,314 over the last quarter. Corporate insiders own 1.42% of the company’s stock.

Vistra Stock Down 0.1 %

NYSE:VST opened at $144.94 on Friday. Vistra Corp. has a 52-week low of $37.38 and a 52-week high of $168.67. The stock’s fifty day moving average price is $139.60 and its two-hundred day moving average price is $106.15. 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 company has a market cap of $49.31 billion, a price-to-earnings ratio of 27.04, a P/E/G ratio of 1.87 and a beta of 1.16.

Vistra Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 20th will be given a $0.221 dividend. The ex-dividend date of this dividend is Friday, December 20th. This is a positive change from Vistra’s previous quarterly dividend of $0.22. This represents a $0.88 annualized dividend and a dividend yield of 0.61%. Vistra’s payout ratio is currently 16.42%.

Vistra announced that its board has authorized a share repurchase program on Thursday, November 7th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 2.1% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

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.