Legendary Railroad Executive Offloads Huge Amount of Shares After Announcing Decision to Retire from Canadian Pacific Railway, Plus Other Insider Trading

Member of Transcat’s Boardroom Buys 1,000 Shares

A member of Transcat Inc. (NASDAQ:TRNS)’s boardroom also snapped up a few shares last week. Director Angela J. Panzarella purchased 1,000 shares on Thursday at a weighted average price of $10.68 per share, a purchase that lifted her overall holding to 11,000 shares. Although the small purchase does not inspire too much optimism, most insider purchases, regardless of their size, represent a positive indicator.

The provider of accredited calibration and laboratory instrument services and a value-added distributor of professional grade test, measurement and control instrumentation has seen the value of its shares advance by 17% in the past 12 months. Transcat Inc. (NASDAQ:TRNS) reported record quarterly revenue of $34.5 million for the quarter that ended September 24, up from $29.5 million posted for the same period of the previous year. Charles Frumberg’s Emancipation Capital owned 1.02 million shares of Transcat Inc. (NASDAQ:TRNS) on September 30.

Legendary Railroad Executive Offloads Huge Amount of Shares After Decision to Retire from CP

Let’s refocus our attention on some noteworthy insider selling reported on Monday, starting with the insider selling at Canadian Pacific Railway Limited (USA) (NYSE:CP). CEO E. Hunter Harrison, who announced several days ago that he will depart from the Canada’s second-largest railroad operator, sold out a 153,951-share stake held by the E. Hunter Harrison Revocable Trust on Friday for $150.81 each, as well as sold a stake of 24,666 shares held by the Jeannie D. Harrison Revocable Trust at $150.82 apiece.

The media speculates that the legendary executive who has revived three troubled railroads was teaming with activist investor Paul Hilal to get the top job at the nation’s largest east cost railroad, CSX Corporation (NASDAQ:CSX). Canadian Pacific Railway Limited (USA) (NYSE:CP) recently reported a 20.4%-increase in quarterly profit, as well as announced that Keith Creel will become the company’s CEO and President effective January 31. The shares of the railway company are up 33% in the past one year. Charles Paquelet’s Skylands Capital added a 10,700-share stake in Canadian Pacific Railway Limited (USA) (NYSE:CP) to its portfolio during the fourth quarter.

The final page of the article will discuss more insider selling reported with the SEC on Monday.