In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Infrareit Inc. (NYSE:HIFR) reported that Hunt Consolidated, Inc. has picked up 15,740,965 of common stock as of 2017-07-24.
The acquisition brings the aggregate amount owned by Hunt Consolidated, Inc. to a total of 15,740,965 representing a 26.5% in the company.
For those not familiar with the company, InfraREIT, Inc. is a real estate investment trust. The Company is engaged in owning and leasing rate-regulated transmission and distribution (T&D) assets in Texas. It leases its T&D assets to Sharyland Utilities, L.P. Its assets are located in the Texas Panhandle near Amarillo, the Permian Basin in and around Stanton, Central Texas around Brady, Northeast Texas in and around Celeste and South Texas near McAllen. As of December 31, 2016, its T&D assets consisted of approximately 54,000 electricity delivery points, approximately 815 circuit miles of transmission lines, approximately 40,500 circuit miles of distribution lines, 57 substations and a 300 megawatt high-voltage direct current (DC) Tie between Texas and Mexico (Railroad DC Tie). As of December 31, 2016, its T&D assets in each of its leases included S/B/C Lease, McAllen Lease, competitive renewable energy zone (CREZ) Lease, Stanton Transmission Loop Lease and Electric Reliability Council of Texas (ERCOT) Transmission Lease.
A glance at Infrareit Inc. (NYSE:HIFR)’s key stats reveals a current market capitalization of 1.04 Billion based on 43.78 Million shares outstanding and a price at last close of 22.75.
Looking at insider activity, there are a few recent transactions worth noting.
Specifically, on 2015-12-09, Gates picked up 2,500 at a purchase price of $20.23.This brings their total holding to 7,500 as of the date of the filing.
On the sell side, the most recent transaction saw Teachers unload 65,336 shares at a sale price of $19.72. This brings their total holding to 5,398,153.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Infrareit Inc. (NYSE:HIFR) as things move forward to see if its progress aligns with these transactions. Subscribe below and we’ll keep you on top of what’s happening before it moves markets.