Yahoo Finance Trade Alert: The Executive VP & Chief Legal Officer Of Hydro One Limited (TSE:H), Paul Harricks, Has Just Spent CA$17k Buying 98% More Shares
Whilst it may not be a huge deal, we thought it was good to see that the Hydro One Limited (TSE:H) Executive VP & Chief Legal Officer, Paul Harricks, recently bought CA$17k worth of stock, for CA$34.15 per share. While that isn't the hugest buy, it actually boosted their shareholding by 98%, which is good to see.
View our latest analysis for Hydro One
Hydro One Insider Transactions Over The Last Year
Notably, that recent purchase by Paul Harricks is the biggest insider purchase of Hydro One shares that we've seen in the last year. So it's clear an insider wanted to buy, at around the current price, which is CA$34.64. 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. Happily, the Hydro One insiders decided to buy shares at close to current prices.
In the last twelve months Hydro One insiders were buying shares, but not selling. You can see the insider transactions (by companies and 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!
Hydro One 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 Hydro One
Another way to test the alignment between the leaders of a company and other shareholders is to look at how many shares they own. Usually, the higher the insider ownership, the more likely it is that insiders will be incentivised to build the company for the long term. It appears that Hydro One insiders own 0.08% of the company, worth about CA$16m. 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 Does This Data Suggest About Hydro One Insiders?
Insider purchases may have been minimal, in the last three months, but there was no selling at all. That said, the purchases were not large. On a brighter note, the transactions over the last year are encouraging. Insiders do have a stake in Hydro One and their transactions don't cause us concern. So while it's helpful to know what insiders are doing in terms of buying or selling, it's also helpful to know the risks that a particular company is facing. For instance, we've identified 3 warning signs for Hydro One (1 doesn't sit too well with us) you should be aware of.
Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of interesting 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.
