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United Utilities boss sells down

The water company's chief executive has sold a large chunk of his shares
January 18, 2018

Shares in United Utilities (UU.) have performed poorly since the latter part of May, so investors may be concerned to see a large sale of shares by chief executive Steve Mogford. However, before jumping to conclusions, it is best to view this activity in context. In recent years, Mr Mogford has been a regular buyer, picking up small, albeit significant pockets of shares almost monthly since 2011. He also remains the group’s largest non-institutional stakeholder.

The group’s share price trouble can largely be attributed to tightening regulation in the water sector following high-profile blunders by Thames Water and an increasingly hostile attitude towards the private ownership of public services stoked partly by the rise of Jeremy Corbyn and his Labour Party.

On a company level things look more positive, with United Utilities notching up a good performance against its outcome delivery incentives, for example a 22 per cent decrease in complaints. 

Buys
CompanyDirectorDateNo of sharesPrice (p)Value (£)Holding (shares)Holding (%)
Autins♥Terry Garthwaite10 Jan 1815,00012518,75015,0000.068
Avon RubberPetrus Vervaat08 Jan 18967120011,6042,9670.010
Big Sofa Technologies†Nicholas Mustoe (ch)10 Jan 1876,33613.110,0002,775,1164.230
Big Sofa Technologies†Steven Metcalfe10 Jan 1876,33613.110,0001,388,7372.117
Big Sofa Technologies†Paul Clark10 Jan 1876,33613.110,0002,486,5853.790
Cambria AutomobilesPaul McGill08 Jan 1841,89759.39824,88641,8970.042
CarpetrightWilf Walsh (ceo)05 Jan 1831,25016050,00085,0280.125
ConchaChris Akers (ch)08 Jan 185,000,0000.21510,75010,000,0000.574
DebenhamsSergio Bucher (ceo)08 Jan 18169,00029.5649,956356,6170.029
DebenhamsSir Ian Cheshire (ch)05 Jan 18175,00029.3851,415800,0000.065
DiageoJ Ferrán (ch)10 Jan 1831126648,285115,6370.005
DialightMartin Rapp08 Jan 1812,50057371,62526,0000.080
DialightWayne Edmunds (ch)09 Jan 1812,000592.9771,15612,0000.037
DialightStephen Bird09 Jan 1810,00059059,00038,0000.117
FFI♥Simon Ingram04 Jan 1880,0007560,000510,0000.325
FFI♥Simon Ingram05 Jan 1880,0007560,000590,0000.376
Futura Medical†Jonathan Freeman08 Jan 1811,03057.56,34263,5650.053
Gym Group (The)♥Emma Woods08 Jan 188,930224.27820,0288,9300.007
Jupiter Emerging & Frontier Income TrustAudrey McNair05 Jan 184,395115.975,09731,8950.034
Jupiter Emerging & Frontier Income TrustJohn Scott (ch)10 Jan 184,365117.495,12833,2650.036
Jupiter Emerging & Frontier Income TrustMark Dampier04 Jan 183,9401164,57062,0960.067
Jupiter Emerging & Frontier Income TrustNicholas Moakes04 Jan 184,279115.974,96231,7790.034
Metal TigerCharles Hall (ch)10 Jan 181,000,0002.4424,40027,858,4062.548
Micro Focus InternationalDarren Roos10 Jan 183,1012256.869,9833,1010.001
MothercareGlyn Hughes (cfo)09 Jan 1853,9034624,795123,7990.072
MothercareMark Newton-Jones (ceo)09 Jan 18218,86645.69100,000753,5760.441
OPG Power VenturesDmitri Tsvetkov (cfo)09 Jan 1825,00022.8755,71925,0000.007
P2P Global InvestmentsMichael Cassidy10 Jan 1815,000830124,50015,0000.019
Pantheon ResourcesJay Cheatham (ceo)04 Jan 1890,0004944,1003,760,5281.584
Personal Assets TrustFrank Rushbrook04 Jan 18440895.81,63613,7120.644
Personal Assets Trust♥Frank Rushbrook04 Jan 184408991,63613,7160.644
Seeing Machines*Mike McAuliffe (ceo)04 Jan 181,000,000550,0001,000,0000.046
Seeing Machines*Yong Kang Ng04 Jan 181,000,000550,0001,368,7740.062
Shanta Gold†Ketan Patel08 Jan 18219,794613,18856,409,0697.331
Shanta Gold†Anthony Durrant (ch)08 Jan 18423,888625,4333,103,7370.403
Shanta Gold†Keith Marshall08 Jan 18219,794613,188442,6790.058
Stock SpiritsPaul Bal (cfo)09 Jan 1810,000267.526,75050,1840.025
Strat Aero*Paul Ryan05 Jan 18186,010,6270.35651,037339,267,7706.572
UILDavid Shillson08 Jan 184,9231648,07460,6540.067
UILWarren McLeland08 Jan 184,9231648,07448,0430.053
UILAlison Hill08 Jan 184,9231648,07424,1640.027
West African Minerals†Andrew Gutmann09 Jan 18307,1002.347,186307,1000.079
West African Minerals†Willy Simon09 Jan 18307,1002.347,186307,1000.079
Sells
CompanyDirectorDateNo of sharesPrice (p)Value (£)Holding (shares)Holding (%)
Cambria Automobiles♥Philip Swatman (ch)04 Jan 18100,0005757,000200,0000.200
CityFibre Infrastructure♥Gary Mesch08 Jan 186,62757.017413,7791,160,2040.183
CityFibre Infrastructure♥Gary Mesch09 Jan 18100,00058.658,6001,060,2040.168
CityFibre Infrastructure♥Gary Mesch10 Jan 18193,37358.30796112,752866,8310.137
Parkmead♥Ian Rawlinson05 Jan 18180,00036.9266,456106,6440.108
Sirius Real EstateAndrew Coombs (ceo)09 Jan 18166,00065.5207108,7644,217,0640.455
TMT InvestmentsAlexander Selegenev09 Jan 182,000372.57,45033,0000.119
TMT InvestmentsAlexander Selegenev09 Jan 182,000380.87,61635,0000.126
TMT InvestmentsAlexander Selegenev09 Jan 183,00036210,86030,0000.108
United UtilitiesSteve Mogford (ceo)04 Jan 18217,500800.71961,741,565110,0440.016

*Placing/tender/open offer ♥Spouse/connected party †Fees/compensation