Stephanie Zapata Moore, Executive Vice President and General Counsel of Vistra Corp. (NYSE:VST), recently sold a significant portion of her holdings in the company. According to a Form 4 filing with the Securities and Exchange Commission, Moore sold 38,141 shares of Vistra Corp. common stock on November 22, 2024. The shares were sold at a weighted-average price of approximately $161.94, resulting in a total transaction value of $6,176,553.
Following this sale, Moore retains direct ownership of 89,033 shares in the company. The sale was executed in multiple transactions, with prices ranging from $161.91 to $162.17 per share.
In other recent news, Vistra Corp has announced a series of significant financial developments. The company met Q3 earnings expectations with a reported revenue of $1.444 billion. Vistra has 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, increasing the stock's price target.
In addition, Vistra Corp has announced a private offering of senior secured notes due in 2026 and 2034, with the goal of raising $1.25 billion. The proceeds will be used for general corporate purposes, including refinancing existing debts. Furthermore, Vistra has 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.
The company has also disclosed an upcoming annual tax payment of $392,481 due to record holders of certain rights. Vistra Corp's Executive Vice President and President of Vistra Wholesale Operations & Development, Stephen J. Muscato, has announced his retirement effective in April 2025. These are the recent developments in Vistra Corp.
InvestingPro Insights
Vistra Corp. (NYSE:VST) has been experiencing a remarkable year, as evidenced by its impressive stock performance and financial metrics. According to InvestingPro data, VST's stock has seen a staggering 348.43% total return over the past year, significantly outperforming the broader market. This stellar performance aligns with the company's strong financial position and growth trajectory.
The company's revenue for the last twelve months as of Q3 2023 stood at $16.27 billion, with a healthy revenue growth of 4.46%. More impressively, VST's quarterly revenue growth in Q3 2023 was 53.89%, indicating accelerating momentum. The company's profitability is also robust, with a gross profit margin of 41.65% and an operating income margin of 22.04% for the same period.
InvestingPro Tips highlight that Vistra has been aggressively buying back shares, which often signals management's confidence in the company's future prospects. Additionally, VST has raised its dividend for 6 consecutive years, demonstrating a commitment to returning value to shareholders. The company is trading near its 52-week high, with its price at 95.64% of the 52-week high, reflecting strong investor confidence.
These insights provide context to Stephanie Zapata Moore's recent stock sale. While insider sales can sometimes raise concerns, it's important to note that VST's overall financial health and market performance remain strong. The company's high return over the last year and its trading near the 52-week high suggest that the sale may be part of personal portfolio management rather than a lack of confidence in the company's future.
For investors seeking a deeper understanding of Vistra Corp.'s potential, InvestingPro offers 13 additional tips, providing a comprehensive analysis of the company's financial health and market position.
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