Four insiders including a boardmember have recently purchased 275,500 shares or $13,722,000 worth of stock. In late April, Colonial Properties Trust, a real estate investment trust that specializes in apartments, posted weaker than expected numbers and also revised guidance downward which fell below Wall Street expectations. However, the company was then upgraded by Wachovia less than a week after the quarterly report. The stock currently trades at around 14x cash flow.

Railroad operator CSX Corp. said May 8th it will repurchase an additional $1 billion in company stock, raise its dividend by 25 percent and make $6.4 billion in capital expenditures over the next four years. "These actions emphasize our confidence in the earnings power of CSX businesses as demand for our rail and intermodal services is robust and expected to grow," said CSX Chairman and Chief Executive Michael Ward in a statement. The stock trades for 8.5x cash flow.

When a stock's price reaches its 52-week high and insiders keep buying, that's a sign that something big is going on, Jim Cramer told viewers of his "Mad Money" TV show Tuesday. "The stock is undervalued, and you need to make your move," he said. Not every insider has the guts to buy a stock that's at or near its peak, he said. Buying at the high is like "putting your money where your mouth is" and saying, "My stock is way too cheap even here." Cramer said L-3 Communications falls into this "rare" category. LLL is an archetypal high-tech defense contractor, Cramer said. Back in February it had two directors buy thousands of shares. First, Peter Cohen, a director, bought 15,000 shares, and then Robert Miller, another director, bought 45,000 shares. The highest they paid was $87.20; now LLL is trading at $93.91, Cramer said. At the time when the insiders bought it, LLL was at its 52-week high. Now the high's been pushed much higher. "It clearly has much more room to run," Cramer said.

A Director of the company has recently purchased 100,000 shares or $3,000,000 worth of stock. As most investors know, the company reported strong Q3 numbers helped in large part by a strong showing from its new operating system, Windows Vista. The company also offered solid guidance on 2007 and 2008 which led to 2 analyst upgrades, including a new $36 dollar price target. The software giant is entering its strongest product cycle in 10 years. Of course, Microsoft is one of the most widely held stocks out there with legendary investors such as Stanley Druckenmiller and Ken Griffin holding the stock in their respective funds. Having been one of the most widely held stocks also won it a spot on the Forbes Piggyback portfolio which consists of the top stocks most widely held by top investment managers – managers that have outperformed their peers in 10-year, 5-year, 3-year, and one year periods. Other stocks on this list include GE, also owned by Durckenmiller and Griffin, as well as AIG. MSFT is also a component of the Top Payout Yield portfolio which takes into account both dividends and stock repurchases of which MSFT has historically been a fan. The Payout Yield turns out to be even more important than just the dividend yield. According to the academic paper, "On the Importance of Payout Yield:Implications for Empirical Asset Pricing." By Jacob Boudoukh Results from 1983-2003 for this strategy returned: DOW stocks: 13.4% DOGS of DOW: 16.2% Payout Yield: 19.1%.

Robert Walter, a Director of the company, has recently purchased 20,000 shares or $1,216,000 worth of stock. American Express has 30% returns on equity, great earnings growth, solid, well protected market share and trades for 13x cash flow.

Safeco announced a $250 million dollar buyback. The auto insurer recently announced that its Q1 profit was down by 12% as a result of lower policy premiums. Safeco also said it has bought back 39.3 million shares at a cost of $2.1 billion since 2003. That’s an average price of $53.40 which is pretty good considering the stock is currently at $66. The stock trades at 6x cash flow.

D&B announced a $200 million dollar buyback upon completion of prior plan. The business information company recently announced its Q1 profit was up and it also backed its previous 2007 guidance. The stock trades at 13x cash flow.

J.B. Hunt Transport Services announced a $500 million dollar buyback. The transportation services provider was recently upgraded by an analyst at R.W. Baird & Co. with the analyst pointing to the company’s plans to repurchase $500 million of stock as well as strong trends in intermodal shipping. The stock trades at 7.5x cash flow.