In This Article:
Fortis Inc. (TSE:FTS) shareholders (or potential shareholders) will be happy to see that the Chief Operating Officer, David Hutchens, recently bought a whopping CA$698k worth of stock, at a price of CA$53.67. Not only is that a big swing, but it increased their holding size by 26%, which is definitely great to see.
Check out our latest analysis for Fortis
The Last 12 Months Of Insider Transactions At Fortis
Over the last year, we can see that the biggest insider sale was by the insider, Jon Jipping, for CA$3.5m worth of shares, at about CA$58.36 per share. So we know that an insider sold shares at around the present share price of CA$53.80. While insider selling is a negative, to us, it is more negative if the shares are sold at a lower price. In this case, the big sale took place at around the current price, so it's not too bad (but it's still not a positive). Jon Jipping was the only individual insider to sell shares in the last twelve months.
Over the last year, we can see that insiders have bought 80.97k shares worth CA$4.3m. On the other hand they divested 60.00k shares, for CA$3.5m. In total, Fortis insiders bought more than they sold over the last year. The chart below shows insider transactions (by companies and individuals) over the last year. 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
I like to look at how many shares insiders own in a company, to help inform my view of how aligned they are with insiders. A high insider ownership often makes company leadership more mindful of shareholder interests. Insiders own 0.2% of Fortis shares, worth about CA$45m. While this is a strong but not outstanding level of insider ownership, it's enough to indicate some alignment between management and smaller shareholders.
So What Does This Data Suggest About Fortis Insiders?
It's certainly positive to see the recent insider purchases. And an analysis of the transactions over the last year also gives us confidence. Insiders likely see value in Fortis shares, given these transactions (along with notable insider ownership of the company). 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 help with this, we've discovered 2 warning signs (1 is significant!) that you ought to be aware of before buying any shares in Fortis.