Yahoo Finance Trade Alert: The Senior Vice President of Capital Markets & Business Development Of Fortis Inc. (TSE:FTS), Stuart Lochray, Has Just Spent CA$194k Buying 43% More Shares
Investors who take an interest in Fortis Inc. (TSE:FTS) should definitely note that the Senior Vice President of Capital Markets & Business Development, Stuart Lochray, recently paid CA$55.56 per share to buy CA$194k worth of the stock. That's a very solid buy in our book, and increased their holding by a noteworthy 43%.
Check out our latest analysis for Fortis
Fortis Insider Transactions Over The Last Year
Over the last year, we can see that the biggest insider purchase was by President David Hutchens for CA$1.0m worth of shares, at about CA$53.33 per share. So it's clear an insider wanted to buy, at around the current price, which is CA$54.80. Of course they may have changed their mind. But this suggests they are optimistic. While we always like to see insider buying, it's less meaningful if the purchases were made at much lower prices, as the opportunity they saw may have passed. The good news for Fortis share holders is that insiders were buying at near the current price.
In the last twelve months insiders purchased 33.31k shares for CA$1.8m. But insiders sold 2.85k shares worth CA$156k. Overall, Fortis insiders were net buyers during the last year. You can see a visual depiction of insider transactions (by companies and individuals) over the last 12 months, below. If you want to know exactly who sold, for how much, and when, simply click on the graph below!
There are plenty of other companies that have insiders buying up shares. You probably do not want to miss this free list of growing companies that insiders are buying.
Insider Ownership
Another way to test the alignment between the leaders of a company and other shareholders is to look at how many shares they own. A high insider ownership often makes company leadership more mindful of shareholder interests. Insiders own 0.09% of Fortis shares, worth about CA$25m. This level of insider ownership is good but just short of being particularly stand-out. It certainly does suggest a reasonable degree of alignment.
So What Do The Fortis Insider Transactions Indicate?
Insider purchases may have been minimal, in the last three months, but there was no selling at all. The net investment is not enough to encourage us much. On a brighter note, the transactions over the last year are encouraging. Insiders do have a stake in Fortis and their transactions don't cause us concern. While we like knowing what's going on with the insider's ownership and transactions, we make sure to also consider what risks are facing a stock before making any investment decision. To that end, you should learn about the 2 warning signs we've spotted with Fortis (including 1 which is significant).
Of course Fortis may not be the best stock to buy. So you may wish to see this free collection of high quality companies.
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.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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