CIBC Asset Management Inc Acquires 5,575 Shares of Vistra Corp. (NYSE:VST)

CIBC Asset Management Inc grew its holdings in Vistra Corp. (NYSE:VST) by 12.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 50,380 shares of the company’s stock after purchasing an additional 5,575 shares during the quarter. CIBC Asset Management Inc’s holdings in Vistra were worth $5,972,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of VST. Forum Financial Management LP raised its position in shares of Vistra by 0.7% in the 3rd quarter. Forum Financial Management LP now owns 11,527 shares of the company’s stock valued at $1,366,000 after acquiring an additional 80 shares during the period. Umpqua Bank raised its holdings in Vistra by 2.2% during the 3rd quarter. Umpqua Bank now owns 3,780 shares of the company’s stock worth $448,000 after buying an additional 81 shares during the period. OneDigital Investment Advisors LLC raised its holdings in Vistra by 3.0% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 2,809 shares of the company’s stock worth $333,000 after buying an additional 81 shares during the period. Interchange Capital Partners LLC raised its holdings in Vistra by 4.2% during the 3rd quarter. Interchange Capital Partners LLC now owns 2,710 shares of the company’s stock worth $321,000 after buying an additional 109 shares during the period. Finally, Simplicity Wealth LLC raised its holdings in Vistra by 3.0% during the 2nd quarter. Simplicity Wealth LLC now owns 3,883 shares of the company’s stock worth $334,000 after buying an additional 112 shares during the period. Institutional investors own 90.88% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on VST. Jefferies Financial Group raised their target price on shares of Vistra from $99.00 to $137.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. BNP Paribas began coverage on shares of Vistra in a report on Monday, October 14th. They set an “outperform” rating and a $231.00 target price on the stock. Morgan Stanley raised their target price on shares of Vistra from $110.00 to $132.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. Guggenheim lifted their price objective on shares of Vistra from $133.00 to $177.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Finally, Royal Bank of Canada lifted their price objective on shares of Vistra from $105.00 to $141.00 and gave the company an “outperform” rating in a report on Thursday, October 3rd. Ten research analysts have rated the stock with a buy rating, According to MarketBeat, Vistra presently has an average rating of “Buy” and a consensus price target of $145.40.

Vistra Price Performance

Shares of VST opened at $142.15 on Monday. The company has a market cap of $48.36 billion, a price-to-earnings ratio of 26.52 and a beta of 1.09. Vistra Corp. has a 1-year low of $34.25 and a 1-year high of $149.80. The company’s fifty day simple moving average is $119.52 and its 200 day simple moving average is $97.52. The company has a current ratio of 1.11, a quick ratio of 0.88 and a debt-to-equity ratio of 4.68.

Vistra declared that its board has approved a stock buyback plan on Thursday, November 7th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 2.1% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Vistra Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 20th will be issued a $0.221 dividend. This is an increase from Vistra’s previous quarterly dividend of $0.22. This represents a $0.88 annualized dividend and a dividend yield of 0.62%. The ex-dividend date is Friday, December 20th. Vistra’s payout ratio is currently 16.42%.

Vistra Company 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.