Insider Buying Alert: RGC Resources Inc. VP Invests $100 in Company Stock
In a recent filing, RGC Resources Inc. (NASDAQ: RGCO) Vice President of Human Resources, Miles Christen Brooke, has purchased $100 worth of company stock. This transaction involved acquiring 4.978 shares at $20.09 each, through the company's Dividend Reinvestment and Stock Purchase Plan.
Brooke's total holdings now stand at 3837.342 shares, showcasing his confidence in RGC Resources. The company, based in Roanoke, Virginia, operates in the energy sector, focusing on natural gas transmission and distribution.
Insider buying is often seen as a positive signal by investors, indicating executive belief in the company's future. It's essential to consider various factors influencing such transactions and individual investment strategies.
This disclosure aligns with SEC regulations requiring insiders to report their securities transactions, offering transparency into executive actions and perspectives on the company's value.
InvestingPro Insights:
- RGCO has a strong history of dividend increases for 10 years and consistent payments for over three decades.
- The company's market cap is around $199.17 million, with a P/E ratio suggesting reasonable valuation.
- Revenue growth shows variability, with a 15.22% decline over the last twelve months but a 5.84% uptick quarterly.
For further insights on RGC Resources Inc., check out more InvestingPro Tips. Stay informed about the company's financial health and future prospects.
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