Petrofac Limited (LON:PFC)’s finance director, Tim Weller, and the wife of company chairman Norman Murray both took advantage of the weakness in the shares a couple of weeks ago by investing £100,000 each. Weller paid 1,341 pence for his shares; Mrs Murray paid 1,333 pence for hers.
The shares are currently trading at the same price Weller paid, which equates to 10.6 times forecast 2013 earnings, falling to nine times 2014 forecasts. Analyst expectations for the dividend — which Petrofac Limited (LON:PFC) hiked 17% last year — imply a yield of 3.3% on 2013 estimates and 3.8% on estimates for 2014.
The article Directors Have Bought Big at National Grid, RSA Insurance Group, and Petrofac originally appeared on Fool.com is written by G. A. Chester.
G.A. Chester has no position in any stocks mentioned. The Motley Fool recommends National Grid (ADR).
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