The Smart Investor | Bill Gates under 10% at CN

Every Sunday we put the spotlight on financial and stock market news that may be useful to the investor but may have stayed under the radar.

Posted at 8:00 am

Richard Dufour

Richard Dufour
The press

Bill Gates’ overall stake in the Canadian National Railway Company (CN) slipped below 10% in the second half of May. It is therefore no longer required to disclose its transactions in the Montreal railroad’s title unless its ownership increases to more than 10%.

His private equity firm Cascade Investment sold 13 million shares NC in May, while the foundation, of which he is 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 shares) and his foundation, which controls 10.3 million (1.49% of shares outstanding).

Bank of America changed its recommendation on the Montreal-based flight simulator manufacturer’s title earlier this week CAE. Analyst Ronald Epstein no longer recommends selling the stock. However, he still does not advise buying it.

The leaders of BRP will be in Orlando, Florida this week to meet with investors and try to increase visibility to reassure shareholders and analysts. They will present an update of the Valcourt-based recreational vehicle manufacturer’s five-year plan and financial targets midweek. Further information about the market launch of new products, such as the electric motorcycle, is also expected.

Montreal-based asset manager Van Berkom et Associés has just informed stock exchange authorities that it has significantly reduced its holding Logistec. The sale of stakes in the Montreal-based shipping and environmental services company last month reduced Van Berkom’s stake in Logistec to 8.6% in early June. That stake was 13.7% last September, when Van Berkom previously clarified its stake in Logistec.

A manager of NC bought $400,000 in Montreal railroad stock this week. Susan Jones bought her first-ever shares in the company on Tuesday. She paid a unit price of $145.64. Susan Jones joined the board last month.

Don’t make the jump on Monday by looking at the stock price of bomber. The Montreal-based business jet maker’s deal will be worth nearly thirty dollars since its previously announced share split takes effect on Monday. This operation reduces the number of shares outstanding, but does not change the value of the company.

A consolidation of the shares of Neptune must also come about on Monday. The Laval company has just announced that it is abandoning its cannabis-related activities to focus exclusively on everyday products (organic food, vitamins, dietary supplements, etc.).

A senior leader of Dorel has just bought shares in the Montreal-based furniture and child car seat maker for just over $100,000. Jeffrey Segel, Senior Vice President of Sales and Marketing, purchased a total of 15,000 shares between Janah and June 6th.

The Quebec titles of Boralex and from Determined forest products hit a 52-week high in Toronto this week. On the contrary, SNC Lavalin, stingray, Lassonde and Neptune all hit 52-week lows.

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