Oliver Lawrence T., Vice President and Secretary of RGC Resources Inc . (NASDAQ:RGCO), recently acquired shares of the company, according to a regulatory filing. The transaction, which took place on November 1, involved the purchase of 9.833 shares at a price of $20.34 each, totaling approximately $200. This acquisition was made through the RGC Resources, Inc. Dividend Reinvestment and Stock Purchase Plan. Following this transaction, Lawrence holds a total of 17,958.405 shares directly.
In addition to the recent purchase, Lawrence's holdings include shares acquired through dividends reinvested in both the RGC Resources, Inc. Dividend Reinvestment and Stock Purchase Plan and the Restricted Stock Plan.
InvestingPro Insights
To provide additional context to Oliver Lawrence T.'s recent share acquisition, it's worth noting some key financial metrics and insights about RGC Resources Inc. (NASDAQ:RGCO). According to InvestingPro data, the company has a market capitalization of $208.06 million and a P/E ratio of 16.29, suggesting a moderate valuation relative to earnings.
RGC Resources has demonstrated a commitment to shareholder returns, which aligns with Lawrence's participation in the Dividend Reinvestment and Stock Purchase Plan. An InvestingPro Tip highlights that the company has raised its dividend for 11 consecutive years, indicating a strong track record of increasing shareholder value. Moreover, RGC Resources boasts a dividend yield of 3.92%, which may be attractive to income-focused investors.
Despite these positive dividend trends, another InvestingPro Tip notes that analysts anticipate a sales decline in the current year. This forecast, coupled with the reported revenue growth of -15.22% over the last twelve months, suggests that the company may be facing some headwinds in its market environment.
For investors seeking a more comprehensive analysis, InvestingPro offers additional tips and insights beyond those mentioned here. In fact, there are 8 more InvestingPro Tips available for RGC Resources, providing a deeper understanding of the company's financial health and market position.
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