In a recent move, Carrie Lee Kirby (NYSE:KEX), the EVP and Chief Administrative Officer of Vistra Corp. (NYSE:VST), sold a significant amount of company stock, totaling over $4.5 million. The transactions occurred on March 14, 2024, and were publicly reported in a filing with the Securities and Exchange Commission on March 18, 2024.
Kirby executed two separate sales of Vistra Corp. common stock, both on the same day. The first sale involved 33,003 shares at a weighted-average price ranging from $62.62 to $62.641, resulting in a total value of approximately $2,066,707. The second sale comprised 39,745 shares sold at prices between $62.61 and $62.69, with a total value of approximately $2,488,142. These sales represent a significant divestment by Kirby, with the total proceeds from the sold shares amounting to roughly $4,554,849.
On the same date, Kirby also acquired shares through the exercise of stock options. The executive exercised options to buy 33,003 shares at $18.90 per share and another 39,745 shares at $26.56 per share. The total value for these option exercises amounted to $1,679,383, covering a price range between $18.9 and $26.56.
Following these transactions, Kirby's ownership in Vistra Corp. stands at 184,201 shares of common stock. The sales and acquisitions reflect a reshuffling of Kirby's investment in the company, though the exact reasons for the transactions are not disclosed in the filing.
Investors and market watchers often keep a close eye on insider transactions as they may provide insights into an executive's confidence in the company's prospects or may signal strategic personal financial decisions. With such a substantial amount of stock sold, this recent activity within Vistra Corp. will likely be of interest to the market.
For those interested in the specifics of the transactions, the SEC filing includes detailed footnotes that offer additional context, including information on the weighted-average prices and the vesting schedule of the exercised stock options.
InvestingPro Insights
In the light of the recent insider transactions at Vistra Corp. (NYSE:VST), evaluating the company's financial health and market performance becomes crucial for investors. According to real-time data from InvestingPro, Vistra Corp. presents a mixed financial landscape. With a market capitalization of $21.74 billion and a P/E ratio standing at 17.31, the company displays a solid valuation in the market. The P/E ratio has seen a slight adjustment in the last twelve months as of Q4 2023, coming down to 15.7, which suggests a more favorable valuation for investors considering the company's earnings.
One of the standout InvestingPro Tips for Vistra Corp. is that management has been actively repurchasing shares, which can be an indicator of the company's confidence in its future prospects and a sign that it believes the shares are undervalued. This aligns with the recent insider selling activity, suggesting a broader strategy may be at play. Additionally, Vistra has consistently raised its dividend for 5 consecutive years, with a dividend yield of 1.4% as of the latest data, reflecting a commitment to returning value to shareholders.
The company has also demonstrated strong returns, with a significant price uptick over the last six months, amounting to an 86% total return. This momentum is evident in the short term as well, with a one-month price total return of 35.06%. Such performance metrics are essential for investors to consider when analyzing the potential growth and profitability of their investments.
For those looking to delve deeper into Vistra Corp.'s financials and market performance, InvestingPro offers additional tips, including insights on the company's free cash flow yield and liquidity position. To gain access to these valuable tips and make more informed investment decisions, consider using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at https://www.investing.com/pro/VST. With a total of 15 additional InvestingPro Tips available, investors can benefit from a comprehensive analysis of Vistra Corp.'s market standing and future outlook.
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