5 Stocks to Buy Now According to Billionaire Howard Marks

3. Vistra Corporation (NYSE:VST)

Holding Value: $ 555.32 million

Percentage of 13F portfolio: 7.45%

Number of Hedge Fund Holders: 32

On the third spot among the best stocks to buy now according to billionaire Howard Marks is Vistra Corporation (NYSE:VST), in which the investor holds 29.94 million shares worth $555.32 million. Founded in 1882 and headquartered in Texas, the company deals in electricity supply and power generation and serves approximately 4.5 million commercial, residential and industrial customers.

Vistra Corporation (NYSE: VST) was at the forefront of providing power to its Texas customers during the winter storm Uri in February 2021 and continues its recovery from the huge emergency costs incurred during the storm.

Earlier this month, the company has announced a new $2.0 billion stock buyback program expected to run from November until the end of 2022. To finance the program, Vistra Corporation has announced a private offering of a total of 1.0 million shares of preferred stock at a price of $1,000 per share.

There were a total of 32 hedge funds  that  held stakes in the Vistra Corporation (NYSE:VST) worth $1.32 billion in aggregate at the end of June, compared to 46 hedge funds holding $1.25 billion worth of shares a quarter earlier.