Whilst it may not be a huge deal, we thought it was good to see that the Fortis Inc. (TSE:FTS) Vice President of Investor Relations, Stephanie Amaimo, recently bought CA$100k worth of stock, for CA$56.95 per share. Even though that isn’t a massive buy, it did increase their holding by 99%, which is a arguably a good sign.
Fortis Insider Transactions Over The Last Year
In the last twelve months, the biggest single sale by an insider was when the insider, Phonse Delaney, sold CA$746k worth of shares at a price of CA$48.15 per share. That means that an insider was selling shares at slightly below the current price (CA$54.32). As a general rule we consider it to be discouraging when insiders are selling below the current price, because it suggests they were happy with a lower valuation. However, while insider selling is sometimes discouraging, it’s only a weak signal. We note that the biggest single sale was only 24% of Phonse Delaney’s holding.
In the last twelve months insiders purchased 16.92k shares for CA$908k. But they sold 15783 shares for CA$762k. Overall, Fortis insiders were net buyers last year. You can see the insider transactions (by individuals) over the last year depicted in the chart below. If you want to know exactly who sold, for how much, and when, simply click on the graph below!
Fortis is not the only stock that insiders are buying. For those who like to find winning investments this free list of growing companies with recent insider purchasing, could be just the ticket.
Insider Ownership of Fortis
Many investors like to check how much of a company is owned by insiders. We usually like to see fairly high levels of insider ownership. Fortis insiders own 0.5% of the company, currently worth about CA$138m based on the recent share price. This kind of significant ownership by insiders does generally increase the chance that the company is run in the interest of all shareholders.
What Might The Insider Transactions At Fortis Tell Us?
It’s certainly positive to see the recent insider purchases. And an analysis of the transactions over the last year also gives us confidence. Along with the high insider ownership, this analysis suggests that insiders are quite bullish about Fortis. Nice! Therefore, you should should definitely take a look at this FREE report showing analyst forecasts for Fortis.
If you would prefer to check out another company — one with potentially superior financials — then do not miss this free list of interesting companies, that have HIGH return on equity and low debt.
For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions, but not derivative transactions.
If you spot an error that warrants correction, please contact the editor at firstname.lastname@example.org. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned.
We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Thank you for reading.
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