Insider Selling: Cameron M. Bready Sells 79,575 Shares of ITC Holdings Corp. Stock (ITC)
ITC Holdings Corp. (NYSE:ITC) CFO Cameron M. Bready sold 79,575 shares of the company’s stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $37.29, for a total transaction of $2,967,351.75. Following the completion of the sale, the chief financial officer now directly owns 21,408 shares of the company’s stock, valued at approximately $798,304. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Shares of ITC Holdings Corp. (NYSE:ITC) traded down 2.57% on Friday, hitting $34.88. The stock had a trading volume of 5,314,927 shares. ITC Holdings Corp. has a 52 week low of $28.3933 and a 52 week high of $38.43. The stock has a 50-day moving average of $36.99 and a 200-day moving average of $34.88. The company has a market cap of $5.448 billion and a P/E ratio of 22.62.
ITC Holdings Corp. (NYSE:ITC) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.44 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $1.12 earnings per share. ITC Holdings Corp.’s revenue was up 19.0% compared to the same quarter last year. On average, analysts predict that ITC Holdings Corp. will post $1.87 earnings per share for the current fiscal year.
ITC has been the subject of a number of recent research reports. Analysts at Deutsche Bank reiterated a “buy” rating on shares of ITC Holdings Corp. in a research note on Friday. They now have a $38.50 price target on the stock, down previously from $41.00. Separately, analysts at Credit Suisse downgraded shares of ITC Holdings Corp. from a “neutral” rating to an “underperform” rating in a research note on Friday. They now have a $34.50 price target on the stock, up previously from $31.33. Finally, 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. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. ITC Holdings Corp. has a consensus rating of “Hold” and a consensus target price of $39.00.
ITC Holdings Corp. (NYSE:ITC) is engaged in the electric transmission operations of its Regulated Operating Subsidiaries.
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