SPX Gestao de Recursos Ltda Acquires New Stake in Vistra Corp. (NYSE:VST)

SPX Gestao de Recursos Ltda has made a significant move by acquiring a new stake in Vistra Corp. (NYSE:VST - Free Report) during the third quarter of the year. According to their latest filing with the Securities and Exchange Commission (SEC), the firm purchased 83,333 shares of Vistra's stock, which is valued at approximately $9,878,000. This acquisition makes Vistra Corp. an important part of SPX Gestao de Recursos Ltda's investment portfolio, accounting for 1.3% of their total holdings and ranking as their 18th largest investment.

Investing in Vistra Corp

Vistra has been gaining attention recently as a promising player in the renewable energy sector. Apart from SPX Gestao de Recursos Ltda, several other institutional investors have also adjusted their stakes in Vistra. For instance, Mark Sheptoff Financial Planning LLC and Thurston Springer Miller Herd & Titak Inc. both acquired new stakes in Vistra, each valued at approximately $30,000. Meanwhile, CVA Family Office LLC notably increased its stake by an incredible 1,505.9%, now holding 273 shares valued at around $32,000 after adding 256 shares during the same quarter. Other noteworthy investments include RPg Family Wealth Advisory LLC and Redwood Wealth Management Group LLC, which both established new positions in Vistra.

Insider Trading Activity

In terms of insider trading, there have been notable transactions involving executives from Vistra Corp. On November 22nd, EVP Stephen J. Muscato sold 207,100 shares at an average price of $161.34, totaling approximately $33,413,514. This sale decreased his position by 39.42%, leaving him with about 318,287 shares valued at $51,352,424.58. Additionally, on November 25th, EVP Scott A. Hudson offloaded 115,000 shares at an average price of $164.16, amounting to about $18,878,400. Following this sale, he retains 254,932 shares worth approximately $41,849,637.12, reflecting a 31.09% reduction in his ownership. In total, over the past three months, company insiders sold 342,100 shares worth $55,087,314, while currently, insiders hold 1.42% of the total shares outstanding.

Analyst Insights

Vistra Corp. has been the subject of multiple analyst reports recently. For instance, Royal Bank of Canada raised its target price on Vistra shares from $105.00 to $141.00, giving the stock an “outperform” rating. Similarly, Morgan Stanley revised their price objective from $135.00 to $169.00, also rating the stock as “overweight.” Other analysts, such as UBS Group and BNP Paribas, have provided their updated ratings and price targets, generally leaning towards a positive outlook.

Performance and Buyback Program

As of the latest trading session, shares of NYSE VST increased by $1.17, reaching $146.25, with a trading volume of over 1 million shares. The stock's 50-day moving average stands at $139.47, while the 200-day moving average is $105.85. The company has a substantial market capitalization of $49.76 billion and is also engaging in a stock buyback program valued at $1 billion, which reflects management's belief in the undervaluation of its stock.

Dividend Announcement

In addition to the buyback program, Vistra also announced a quarterly dividend of $0.221 per share, payable on December 31st, which is an increase from the previous dividend of $0.22. This increase signifies the company's commitment to returning value to its shareholders and showcases its positive cash flow situation.

About Vistra Corp.

Vistra Corp. is an integrated retail electricity and power generation company operating in six segments: Retail, Texas, East, West, Sunset, and Asset Closure. The firm provides electricity and natural gas to various customers, including residential, commercial, and industrial clients across different states in the U.S. and the District of Columbia.

Investment, Shares, Renewable