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Inside the Market Wednesday’s Insider Report: CEO invests over $1-million in this dividend stock

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.

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Listed below are two stocks that have had recent buying activity reported by insiders.

Cott Corp. (BCB-T)

On Sept. 3 and Sept. 4, chief executive officer Tom Harrington acquired a total of 80,000 shares at an average price per share of approximately U.S.$12.56 for an account in which he has indirect ownership (TAH Capital LLC), increasing this account’s holdings to 132,493 shares. The cost of these purchases totaled over U.S.$1-million.

Power Financial Corp. (PWF-T)

On Sept. 5, Susan McArthur, a director since 2018, purchased a total of 3,480 shares at an average cost per share of approximately $28.74 for two accounts, (2,610 shares for her personal trading account and 870 shares for her RRSP), initiating portfolio positions in each account. The cost of these investments exceeded $100,000.

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Listed below are two stocks that have had recent selling activity reported by insiders.

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Emera Inc. (EMA-T)

Between Aug. 30 and Sept. 3, president and chief executive officer Scott Balfour exercised his options, receiving 75,000 shares at an average cost per share of $33.73, and sold 75,000 shares at a price per share of approximately $57.42, leaving 50,705 shares in his account. Net proceeds, not including commission fees, totaled over $1.7-million.

On Sept. 3, Nancy Tower, president and chief executive officer of Tampa Electric (wholly owned by Emera), exercised her options, receiving 57,800 shares at an average cost per share of approximately $33.55, and sold 57,800 shares at a price per share of $58 with 57,580 shares remaining in her portfolio. Net proceeds from the sale, not including commission charges, exceeded $1.4-million.

Waste Connections Inc. (WCN-T)

On Sept. 4, chief tax officer Matthew Black divested 4,000 shares at a price per share of US$91.6903, leaving an account balance of 23,063 shares. Gross proceeds from the sale exceeded US$366,000.

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