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An RBC Financial Group sign in Toronto on July 10, 2017.Fred Lum/The Globe and Mail

Featured below are companies that have experienced recent insider trading activity in the public market through their direct and indirect ownerships.

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.

Let's begin the report detailing a REIT has had recent insider selling activity.

Canadian Apartment Properties REIT (CAR.UN-T)

On Sept. 12, Stanley Swartzman, who sits on the board of trustees, sold 10,000 units at an average price per unit of $33.95. The previous day, he divested 10,000 units at an average price per unit of $33.84. After these transactions, his portfolio's held 87,550 units.

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The following companies have had mixed trading with both recent insider buying as well as selling activity.

Alimentation Couche-Tard Inc. (ATD.B-T)

On Sept. 15, Richard Fortin, who sits on the board of directors, sold a total of 520,000 shares for two accounts. In his personal account, he sold half a million shares at an average price per share of $60, leaving a share balance of 656,600 shares. In addition, he sold 20,000 shares at an average price per share of $60.117 in an account in which he has indirect ownership, trimming this portfolio's holdings to 255,300 shares.

Earlier this week, we reported that the company's chief financial officer, Claude Tessier, purchased 800 shares at an average price per share of $60.64 on Sept. 8, increasing his portfolio's position to 2,600 shares.

CES Energy Solutions Corp. (CEU-T)

On Sept. 18, president and chief executive officer Tom Simons purchased a total of 13,400 shares at an average cost per share of $5.82 for two accounts.

On Sept. 12, Burton Ahrens, who sits on the board of directors, sold 10,000 shares at an average price per share of $5.53, taking his portfolio's holdings down to 86,748 shares.

On Sept. 11, chief operating officer Kenneth Zinger unloaded 10,000 shares at an average price per share of $5.35, and on Sept. 1, he sold 14,131 shares at an average price per share of $5.26. These trades reduced his sizable portfolio position to 1,356,922 shares.

In a previous issue, we reported that Mr/ Tom Simons purchased 45,000 shares at an average price per share of $5.4879 on Sept. 6, taking his portfolio's position up to 2,164,223 shares. On Sept. 1, John Hooks, who sits on the board of directors, purchased 50,000 shares at an average cost per share of $5.3034, taking his portfolio's holdings up to 1,654,905 shares.

Royal Bank of Canada (RY-T)

On Sept. 19, Doug McGregor, chairman and chief executive officer of RBC Capital Markets, exercised his options and sold the corresponding number of shares (10,000) at an average price per share of $93.1013, leaving a remaining portfolio balance of 75,908 shares.

On Sept. 15, Thierry Vandal, who sits on the board of directors, purchased 729 shares at an average price per share of $91.91, increasing his portfolio's position to 1,077 shares.

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