SAN DIEGO—Trevor I. Mihalik, Executive Vice President and Group President at Sempra (NYSE:SRE), recently executed a series of transactions involving the company's common stock. According to a filing with the Securities and Exchange Commission, Mihalik sold 23,713 shares on November 20, 2024, at a price of $93.09 per share, totaling approximately $2.2 million.
Prior to this sale, Mihalik engaged in multiple transactions on November 19, 2024, acquiring a significant number of shares through the exercise of stock options. These exercises included 31,024 shares at $53.38 per share, 31,884 shares at $74.56 per share, and 81,036 shares at $61.90 per share, resulting in a combined transaction value of approximately $9.05 million.
Additionally, Mihalik disposed of 120,231 shares to cover tax obligations at a price of $93.38 per share, amounting to a total of $11.23 million.
Following these transactions, Mihalik retains direct ownership of 11,190.09 shares of Sempra's common stock.
In other recent news, Sempra, a prominent energy infrastructure company, carried out its third quarter 2024 earnings call. The management team, including CEO Jeff Martin and CFO Karen Sedgwick, presented an overview of the company's financial performance and future plans. While earnings per share figures were discussed, the specifics were not detailed in the summary. The management team also provided forward-looking statements about Sempra's future performance, acknowledging potential differences between projected and actual results due to factors outlined in SEC filings. It's crucial to note that these are recent developments and provide insight into Sempra's current financial health and strategic direction. However, the call did not specify any particular misses or shortfalls in Sempra's third-quarter results. Additionally, no details from a question and answer session, if one occurred during the call, were included in the summary.
InvestingPro Insights
The recent stock transactions by Trevor I. Mihalik, Executive Vice President and Group President at Sempra, come at a time when the company's financial metrics and market performance are showing some interesting trends. According to InvestingPro data, Sempra's stock is currently trading near its 52-week high, with a strong return of 15.86% over the last three months and an impressive 32.03% over the past year.
Sempra's dividend history is particularly noteworthy. An InvestingPro Tip reveals that the company has raised its dividend for 14 consecutive years, demonstrating a commitment to shareholder returns. This is further supported by the fact that Sempra has maintained dividend payments for 27 consecutive years, a testament to its financial stability and shareholder-friendly policies.
The company's current P/E ratio stands at 20.41, which is relatively high compared to its near-term earnings growth, as indicated by another InvestingPro Tip. This valuation metric, coupled with the stock's recent strong performance, suggests that investors are pricing in future growth expectations.
For readers interested in a more comprehensive analysis, InvestingPro offers additional tips and insights. In fact, there are 6 more InvestingPro Tips available for Sempra, which could provide valuable context for understanding the company's financial position and market outlook.
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