Wednesday's Insider Report: Canada Pension Plan unloads $487-million as this industrial stock hits a record high
Featured below are companies that have experienced recent insider trading activity in the public market through their direct and indirect ownerships, including accounts they have control or direction over.
The list features insider transaction activity; it does not convey total ownership information as an insider may hold numerous accounts.
Keep in mind, when looking at transaction activities by insiders, purchasing activity may reflect perceived value in a security. Selling activity may or may not be related to a stock's valuation; perhaps an insider needs to raise money for personal reasons. An insider's total holdings should be considered because a sale may, in context, be insignificant if this person has a large remaining position in the company. I tend to put great weight on insider transaction activity when I see multiple insiders trading a company's shares or units.
Listed below are two stocks that have had recent buying activity in the public market reported by insiders.
Morguard Corp. (MRC-T)
On June 3, Bruce Robertson, who sits on the board of directors, bought 12,000 shares at a price per share of $112.91 for an account in which he has indirect ownership (5051326 Ontario Inc.), lifting the holdings in this specific account to 50,000 shares. The cost of this investment exceeded $1.3 million.
Total Energy Services Inc. (TOT-T)
On June 6, founder, president, chief executive officer and director Dan Halyk invested over $102,000 in shares of Total. He acquired 10,000 shares at a cost per share of $10.28 for an account in which he has indirect ownership (Myrdan Investments Inc.), increasing the holdings in this specific account to 840,000 shares.
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Listed below are two stocks that have had recent selling activity in the public market reported by insiders.
Kinross Gold Corp. (K-T)
On June 3, president Geoff Gold sold 28,251 shares at an average price per share of approximately $21.26, reducing the holdings in this particular account to 306,946 shares. Proceeds from the sale totaled more than $600,000, excluding trading fees.
WSP Global Inc. (WSP-T)
On June 2, Canada Pension Plan Investment Board, with an ownership position exceeding 10 per cent, sold 1.8 million shares at a price per share of $270.95, reducing the holdings in this particular account to 11,080,184 shares. Proceeds from the sale exceeded $487 million, excluding commission charges.
Previously, we reported that chief operating officer Mark Naysmith exercised his options on May 27, receiving 10,424 shares at an average cost per share of approximately $64.90, and sold 10,424 shares at an average price per share of roughly $281.30, after which this particular account did not hold any shares. Net proceeds exceeded $2.2-million, excluding any associated transaction charges.
On June 2, shares of WSP closed at a record high of $282.83.
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