Market Commentary

Congressman Gerry Connolly’s 2022 Trading Activity Is Selling Shares of These Companies

Rahul Joshua5 Sept 2022 · 2 minutes read

Congressman Gerry Connolly, the United States representative from Virginia's 11th congressional district, disclosed on Friday that he sold shares of the three companies earlier this week. 

Connolly sold between $15,000 and $50,000 worth of shares of Dominion Energy (D:US) and Leidos Holdings (LDOS: US) on Tuesday, according to new filings. In addition, the Congressman from Virginia also sold shares of Science Applications (SAIC: US), which provides government services and information technology support. This trade was lower in size, falling into the $1,000 - $15,000 bracket. 

Shares of Dominion Energy closed at $82.34 the day they were sold. The power and energy company is based in Connolly’s native state, Virginia and currently enjoys a market cap of almost $70 billion. 

On the other hand, LDOS stock was sold the day its market value closed at $95.81, according to the data in the filing. Leidos, which presently has a $12.8 billion market cap, is a defense-focused business that is also based in Virginia. Lastly, SAIC share price closed at $91.44 on the day of the Representative’s sale of the tech stock.

These new trades come as no surprise given that Dominion Energy and Leidos are the two most frequently traded stocks by Rep. Connolly. Similarly, SAIC comes in third place, ahead of Procter & Gamble (PG: US)

Interestingly, these are the first trades made by Connolly this year after he disclosed 10 trades made in 2021. All these trades involved selling shares of these three companies. 

Connolly sits on the House committee that oversees the sector of Foreign Affairs, as well as the committee on Oversight and Reform. 

In addition to Connolly, other politicians who recently traded in energy stocks include Congressman Mark Green. The Tennessee Representative sold shares of Energy Transfer (ET: US) and NGL Energy Partners (NGL: US) on August 29.