Posted at 8:00 a.m.
Bill Gates’ total stake in Canadian National Railway Company (CN) slipped below 10% during the second half of May. It is therefore no longer required to reveal its transactions in the title of the Montreal rail carrier unless its stake increases to more than 10%.
His private holding company Cascade Investment sold 13 million shares of NC in May while the foundation of which he is a co-trustee with his ex-wife sold a total of 2.5 million shares last month.
Bill Gates remains CN’s largest shareholder through Cascade, which owns 54 million shares (7.82% of the shares), and his foundation, which controls 10.3 million (1.49% of the outstanding shares).
Bank of America changed its recommendation on the title of the Montreal manufacturer of flight simulators earlier this week CAE. Analyst Ronald Epstein no longer recommends selling the stock. However, he still does not suggest buying it.
The leaders of BRP will be in Orlando, Florida, this week to meet investors and try to improve visibility in order to reassure shareholders and analysts. In the middle of the week, they will present an update of the five-year plan and the financial targets of the manufacturer of recreational vehicles from Valcourt. Additional information surrounding the launch of new products, such as the electric motorcycle, is also expected.
The Montreal asset manager Van Berkom et Associés has just revealed to the stock market authorities that it has significantly lowered its stake in Logistec. The sale of shares in the Montreal-based marine and environmental services company last month reduced Van Berkom’s stake in Logistec to 8.6% as of early June. This stake stood at 13.7% last September when Van Berkom had previously clarified its investment in Logistec.
An administrator of NC bought $400,000 in shares of the Montreal rail carrier this week. Susan Jones bought her very first shares of the company on Tuesday. She paid a unit price of $145.64. Susan Jones joined the board last month.
Don’t make the leap Monday by checking out the stock quote of Bomber. The action of the Montreal manufacturer of business jets will be worth nearly thirty dollars since the consolidation of shares previously announced takes effect on Monday. This operation reduces the number of outstanding shares, but does not change the value of the company.
A consolidation of the shares of Neptune must also materialize on Monday. The Laval company has just announced the abandonment of its cannabis-related activities to focus solely on everyday consumer products (organic foods, vitamins, supplements, etc.).
A senior leader of Dorel has just bought for just over $100,000 of shares in the Montreal manufacturer of furniture and car seats for children. Senior Vice President of Sales and Marketing, Jeffrey Segel purchased a total of 15,000 shares between 1er and June 6.
The Quebec titles of Boralex and of Resolute Forest Products hit a 52-week high this week in Toronto. At the opposite, SNC Lavalin, Stingray, Lassonde and Neptune all hit 52-week lows.