Stephen J. Muscato, Executive Vice President and President of Wholesale Operations and Development at Vistra Corp. (NYSE:VST), reported significant stock transactions on November 22, 2024. According to a recent SEC filing, Muscato sold a total of 208,060 shares of Vistra Corp., generating approximately $33.4 million. The shares were sold at prices ranging from $158.763 to $162.665 per share.
In addition to the sales, Muscato also exercised stock options to acquire 207,100 shares at prices between $14.03 and $19.68 per share, amounting to a total value of approximately $3.4 million. These acquisitions were part of previously granted employee stock options.
Following these transactions, Muscato holds a total of 318,287 shares of Vistra Corp. in direct ownership.
In other recent news, Vistra Corp. has undergone significant developments in its financial strategy. The company reported strong Q3 earnings, meeting expectations with a revenue of $1.444 billion. Vistra Corp. also raised its EBITDA guidance for 2024 to between $5.0 billion and $5.2 billion. BMO Capital Markets maintained its Outperform rating on Vistra Corp., increasing the stock's price target.
Vistra Corp. is planning a private offering of senior secured notes due in 2026 and 2034, aiming to raise $1.25 billion. This move is intended for general corporate purposes, including refinancing existing debts. The company also revealed plans for at least $3.25 billion in share repurchases from 2024 to 2026 and an availability of $1.5 billion in incremental capital for allocation through the end of 2026.
Stephen J. Muscato, the company's Executive Vice President and President of Vistra Wholesale Operations & Development, announced his decision to retire in 2025. The company is managing the transition to ensure continuity in its operations. For 2025, Vistra Corp. has projected EBITDA ranging from $5.5 billion to $6.1 billion, and free cash flow between $3.0 billion and $3.6 billion. These are among the recent developments at Vistra Corp.
InvestingPro Insights
The recent stock transactions by Stephen J. Muscato, a key executive at Vistra Corp. (NYSE:VST), come at a time when the company's stock is performing exceptionally well. According to InvestingPro data, Vistra has seen a remarkable 348.43% price total return over the past year, with a year-to-date return of 303.53%. This strong performance is reflected in the stock trading near its 52-week high, at 95.64% of that peak.
Despite the significant insider sale, several InvestingPro Tips suggest a positive outlook for Vistra. The company has been raising its dividend for 6 consecutive years, demonstrating a commitment to shareholder returns. Additionally, Vistra is trading at a low P/E ratio relative to its near-term earnings growth, with a PEG ratio of 0.51 for the last twelve months as of Q3 2024, indicating potential undervaluation.
Vistra's financial health appears robust, with liquid assets exceeding short-term obligations. The company's profitability is also noteworthy, with a gross profit margin of 41.65% and an operating income margin of 22.04% for the last twelve months as of Q3 2024.
For investors seeking more comprehensive analysis, InvestingPro offers 13 additional tips for Vistra Corp., providing deeper insights into the company's financial position and market performance.
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