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Top Insider Buys Highlight for the Week of May 14

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·4 min read
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- By Shuda Xia

The largest insider buys this week were for Corteva Inc. (NYSE:CTVA), Energy Transfer LP (NYSE:ET), Elanco Animal Health Inc. (NYSE:ELAN) and CenterPoint Energy Inc. (NYSE:CNP).

Corteva executive vice president bought 2,600 shares

Rajan Gajaria, executive vice president of business platforms, bought 2,600 shares of Corteva (NYSE:CTVA) on May 10 for an average price of $49.67. The share price has declined 6.74% since then.


Corteva is an American agricultural chemical and seed company. The company was the agricultural unit of DowDuPont prior to being spun off as an independent public company during June of 2019. The company has a market capitalization of $34.14 billion; as of May 14, it traded at $46.32.

On May 4, Corteva reported financial results for the first quarter of 2021, which ended March 31. Net sales for the quarter totaled $4.18 billion, representing a 6% increase compared to the prior-year quarter. GAAP income for the quarter totaled $613 million, representing a 118% increase compared to last year. Earnings per share for the quarter were 81 cents, representing a 125% increase.

Energy Transfer director bought 200,000 shares

Director Ray W. Washburne bought 200,000 shares of Energy Transfer (NYSE:ET) stock on May 11 for an average price of $9.53. Since then, the stock has gained 6.09%.

Energy Transfer is an American natural gas and propane pipeline transport company. The company is part of the Fortune 500 and is the parent company of Dakota Access LLC. In October of 2018, the company's name was changed to Energy Transfer LP after its merger with Energy Transfer Equity. The company has a market capitalization of $27.33 billion; as of May 14, it traded at $10.11.

On May 6, Energy Transfer reported financial results for the first quarter of 2021, which ended March 31. Net income for the quarter totaled $3.29 billion, representing an increase of $4.14 billion compared to the prior-year quarter. Net income per diluted limited partner unit was $1.21. Adjusted Ebitda for the quarter totaled $5.04 billion, up from $2.64 billion last year.

Elanco Animal Health director bought 25,000 shares

Director David R. Hoover bought 25,000 shares of Elanco (NYSE:ELAN) on May 11 for an average price of $32.44. Since then, the stock has gained 7.27%.

Elanco Animal Health is an American pharmaceutical company that focuses on producing medicines and vaccinations for pets and livestock. The company was a subsidiary of Eli Lilly and Co. (NYSE:LLY) before being divested in 2019.The company has a market capitalization of $16.46 billion; as of May 14, it traded at $34.80.

On May 7, Elanco Animal Health reported financial results for the first quarter of 2021. Revenue for the quarter totaled $1.242 billion, while the reported loss per share was 12 cents. The gross margin was 54.2% on a reported basis and 59.2% on an adjusted basis.

CenterPoint Energy executive vice president and chief financial officer bought 10,000 shares

Executive Vice President and CFO Jason P. Wells bought 10,000 shares of CenterPoint (NYSE:CNP) on May 11 for an average price of $24.06. The share price has increased by 3.99% since then.

CenterPoint Energy is an American electric and natural gas utility company that focuses on serving markets in Arkansas, Indiana, Louisiana, Mississippi, Minnesota, Oklahoma and Texas. The company was formerly known as Reliant Energy and is a component of the S&P 500. The company has a market capitalization of $14.52 billion; as of May 14, it traded at $25.02.

On May 6, CenterPoint Energy reported results for the first quarter of 2021. Income for the quarter totaled $334 million, or 56 cents per diluted share, compared to a loss of $1.228 billion, or a loss of $2.44 per diluted share, for the year-ago quarter.

For the complete list of stocks that were bought by their company executives, go to Insider Trades.

Disclosure: I do not own stock in any of the companies mentioned in the article.

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This article first appeared on GuruFocus.