David D. Grumhaus Jr., President and CEO of Duff & Phelps Utility & Infrastructure Fund Inc. (NYSE:DPG), has purchased additional shares of the company, signaling a strong vote of confidence in the fund's future. The executive acquired 3,000 shares at a price of $9.42 each, totaling an investment of $28,260. This transaction, reported on April 9, 2024, increases Grumhaus's stake in the company to a total of 8,000 shares.
Investors often monitor insider buying as it can be a sign that company leadership is bullish on the stock's future prospects. The recent purchase by Grumhaus follows this pattern, potentially indicating his belief in the company's value and future performance.
Duff & Phelps Utility & Infrastructure Fund Inc. is known for its focus on utility and infrastructure investments. The fund's shares are traded on the New York Stock Exchange under the ticker symbol NYSE:DPG, and the company is headquartered in Chicago, Illinois.
The transaction was made public through a Form 4 filing with the Securities and Exchange Commission. It is worth noting that insider transactions are closely watched by investors as they provide insights into how the top executives view the company's stock value and financial health.
The purchase by the CEO of Duff & Phelps Utility & Infrastructure Fund Inc. comes at a price point that investors will likely consider as they assess their own positions in the fund. The company's stock performance and future outlook will continue to be areas of interest for both current and prospective shareholders.
InvestingPro Insights
In light of the recent insider buying by David D. Grumhaus Jr., President and CEO of Duff & Phelps Utility & Infrastructure Fund Inc. (NYSE:DPG), potential investors and current shareholders may find additional insights from InvestingPro particularly valuable. The fund's market capitalization stands at a modest $347.07 million, and it currently presents a price-to-earnings (P/E) ratio of 10.97. This P/E ratio could suggest that the company is reasonably valued compared to industry peers.
One of the attractive features of DPG is its substantial dividend yield, which is currently at 8.94%. This is coupled with the fact that the company has a history of rewarding its shareholders, maintaining dividend payments for 14 consecutive years. While the dividend yield is enticing, it's important to note that the fund's valuation implies a poor free cash flow yield, an InvestingPro Tip that suggests caution for those looking for growth potential in addition to income.
Regarding stock performance, the DPG has experienced a 1-year price total return of -22.95%, indicating some volatility in the past twelve months. Nonetheless, the short-term returns have been positive, with a 1.73% increase over the last three months and a 4.84% year-to-date price total return. These metrics provide a mixed picture, highlighting the importance of a thorough analysis when considering an investment in the fund.
For those interested in a deeper dive, there are additional InvestingPro Tips available that can offer further guidance on DPG's financial health and future prospects. Using the special coupon code PRONEWS24, investors can get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, accessing valuable insights that could inform their investment decisions.
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