Notable Insider Buys Last Week: Energy Transfer, Hertz And Many More

• Insider buying can be an encouraging signal for potential investors.
• Many insiders took advantage of falling share prices last week.
• Carl Icahn was among those actively buying shares.

Conventional wisdom says that insiders and 10% owners really only buy shares of a company for one reason -- they believe the stock price will rise and they want to profit from it. So insider buying can be an encouraging signal for potential investors, particularly during periods of uncertainty.

A number of insiders took advantage of falling share prices last week. Here are some of the significant insider purchases reported in the past week.

A director at TransDigm Group Incorporated TDG bought more than 357,500 shares of this manufacturer at between $451.95 and $496.02 apiece. That totaled nearly $167.80 million.

Carl Icahn, a 10% owner at Hertz Global Holdings Inc HTZ, shelled out between $6.99 and $8.06 per share for over 11.41 million shares. That cost him more than $84.83 million.

See Also: Carl Icahn Says Some Stocks Are Being 'Given Away'

Three American Homes 4 Rent AMH directors picked up almost 1.13 million shares of this real estate investment trust altogether for $24.63 to $28.96 each. The total was nearly $31.59 million.

A Mohawk Industries, Inc. MHK director purchased 202,000 of the flooring company's shares at prices ranging from $99.66 to $109.37 apiece. That totaled more than $20.63 million.

Payroll services company TriNet Group Inc TNET saw a director return to acquire more shares. At prices ranging from $45.07 to $54.58, the 521,500 or so purchased added up to more than $26.31 million.

The chief financial officer and four other insiders at Energy Transfer LP ET picked up a total of 2.29 million shares. At $5.87 to $8.50 per share, that came to more than $16.48 million.

Frequent buyer Richard Kinder, executive chair at energy infrastructure company Kinder Morgan Inc KMI, added another 500,000 shares at an average of $15.51 apiece. That cost him over $7.75 million.

Bunge Ltd BG CEO Greg Heckman joined six other insiders in buying shares of this agribusiness company. At prices ranging from $34.60 to $43.30, the 162,000 shares acquired totaled more than $6.44 million altogether.

Beneficial owner Carl Icahn and a Newell Brands Inc NWL director together paid between $12.99 and $13.57 apiece for around 2.82 million shares. That totaled about $37.81 million.

And a pair of Valero Energy Corporation VLO directors picked up more than 46,000 shares at $43.82 and $47.31 apiece. Altogether, that totaled nearly $2.18 million.

In addition, note that there was some amount of insider buying at Enterprise Products Partners L.P. EPD, Home Depot Inc HD, PNC Financial Services Group Inc PNC and ViacomCBS Inc. VIAC last week.

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