Equifax Inc . (NYSE:EFX) executive James M. Griggs, serving as the company's Senior Vice President & Corporate Controller, has sold a total of $91,483 worth of company stock, according to a recent SEC filing. The transactions, which occurred on May 31, 2024, involved the sale of Equifax common stock at prices ranging from $228.2912 to $230.0319.
The sales were executed under a Rule 10b5-1 trading plan, which Griggs had adopted on February 23, 2024. These plans allow company insiders to sell shares over a predetermined period of time, providing an affirmative defense against accusations of trading on non-public material information. The SEC filing indicated that the prices reported were weighted averages, with the actual sales occurring at a range of prices within the reported brackets.
The specific transactions included the sale of 36 shares at an average price of $230.0319, 131 shares at an average price of $229.0856, and 233 shares at an average price of $228.2912. Following these sales, Griggs still owns a substantial number of shares in Equifax, which includes accrued dividend equivalent units for dividends reinvested in corresponding restricted stock units through the company's last dividend payment date.
Equifax has not made any official comment regarding these transactions, which are a routine part of executive compensation and stock ownership management. Investors and analysts often monitor insider sales as part of their assessment of a company's financial health and executive confidence.
The SEC filing provides detailed information on the transactions, including the option for SEC staff, the issuer, or any security holder of the issuer to request full information regarding the number of shares sold at each separate price.
Equifax, headquartered in Atlanta, Georgia, is a global data, analytics, and technology company that provides credit reporting and other related services.
InvestingPro Insights
Following the recent insider trading activity at Equifax Inc. (NYSE:EFX), investors might be curious about the company's current financial standing and market performance. Equifax's market capitalization stands at a robust $29.0 billion, reflecting its significant presence in the data analytics sector. The company's dedication to shareholder returns is evident, having maintained dividend payments for an impressive 54 consecutive years, a testament to its financial stability and commitment to investors.
Analyzing the company's profitability, Equifax has been profitable over the last twelve months, with a reported gross profit margin of 55.49%—a figure that underscores the company's impressive ability to manage its cost of goods sold and maximize profit from its revenues. Such a margin can be indicative of strong pricing power and operational efficiency within the industry.
However, it's worth noting that Equifax is trading at a high earnings multiple, with a P/E ratio of 49.22 for the last twelve months as of Q1 2024. This suggests that the stock's market price is relatively high compared to the company's earnings, which could be a point of consideration for value-focused investors. Additionally, the company's Price / Book ratio stands at 6.34, which may indicate a premium valuation relative to the company's net asset value.
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