Insider Selling: Cameron M. Bready Sells 40,175 Shares of ITC Holdings Corp. Stock (ITC)
ITC Holdings Corp. (NYSE:ITC) CFO Cameron M. Bready sold 40,175 shares of the company’s stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $37.49, for a total value of $1,506,160.75. Following the transaction, the chief financial officer now directly owns 21,408 shares of the company’s stock, valued at approximately $802,586. The sale was disclosed in a legal filing with the SEC, which is available at this link.
ITC Holdings Corp. (NYSE:ITC) traded up 0.53% during mid-day trading on Thursday, hitting $37.77. The stock had a trading volume of 355,123 shares. ITC Holdings Corp. has a 52 week low of $28.24 and a 52 week high of $37.95. The stock’s 50-day moving average is $37.10 and its 200-day moving average is $34.43. The company has a market cap of $5.899 billion and a P/E ratio of 23.73.
ITC Holdings Corp. (NYSE:ITC) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.01. The company had revenue of $258.60 million for the quarter, compared to the consensus estimate of $250.79 million. During the same quarter in the previous year, the company posted $1.12 earnings per share. The company’s revenue for the quarter was up 19.0% on a year-over-year basis. On average, analysts predict that ITC Holdings Corp. will post $1.88 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, June 16th. Shareholders of record on Monday, June 2nd will be paid a dividend of $0.1425 per share. This represents a $0.57 annualized dividend and a dividend yield of 1.51%. The ex-dividend date is Thursday, May 29th.
A number of research firms have recently commented on ITC. Analysts at Wunderlich reiterated a “buy” rating on shares of ITC Holdings Corp. in a research note on Thursday, May 15th. They now have a $41.00 price target on the stock. Separately, analysts at JPMorgan Chase & Co. downgraded shares of ITC Holdings Corp. from an “overweight” rating to a “neutral” rating in a research note on Thursday, May 15th. They now have a $37.00 price target on the stock, up previously from $36.00. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of ITC Holdings Corp. in a research note on Wednesday, April 23rd. They now have a $41.00 price target on the stock. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $40.75.
ITC Holdings Corp. (NYSE:ITC) is engaged in the electric transmission operations of its Regulated Operating Subsidiaries.
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