{"id":63484,"date":"2023-11-17T13:10:20","date_gmt":"2023-11-17T13:10:20","guid":{"rendered":"https:\/\/www.wirenewsfax.com\/large-investors-the-caisse-invests-massively-in-tfi"},"modified":"2023-11-17T13:10:20","modified_gmt":"2023-11-17T13:10:20","slug":"large-investors-the-caisse-invests-massively-in-tfi","status":"publish","type":"post","link":"https:\/\/wirenewsfax.com\/large-investors-the-caisse-invests-massively-in-tfi\/","title":{"rendered":"Large investors | The Caisse invests massively in TFI"},"content":{"rendered":"

The Caisse de d\u00e9p\u00f4t et placement du Qu\u00e9bec has just acquired its very first shares of TFI, and it is by massively purchasing shares of the Montreal company formerly called TransForce in recent months that this new investment has carved out a place in its portfolio .<\/strong><\/p>\n

Quebec’s largest institutional investor has purchased approximately $200 million of the trucking company since the summer on the open market.<\/p>\n

This investment is revealed in a document filed this week with the Securities<\/p>\n

The document reporting stock market investments on a quarterly basis indicates that the Caisse de d\u00e9p\u00f4t started the month of October with 1.3 million shares of TFI, whereas it previously held none.<\/p>\n

The unit price paid and the precise time of purchases are not specified in the document covering the months of July, August and September. The reasons for the transactions are also not mentioned in the document.<\/p>\n

At the Caisse, spokesperson Kate Monfette simply tells La Presse that TFI is a quality company, with a \u201cgood balance sheet\u201d, and which offers \u201cinteresting prospects\u201d in the long term.<\/p>\n

TFI is performing quite well on the stock market despite the recent decline. The stock is up 18% this year and is currently worth $160 on the Toronto Stock Exchange. The progress has been particularly impressive over the past three years. The stock was worth around $20 at the start of the pandemic in March 2020. An all-time high of $188 was reached in August.<\/p>\n

The company acts in particular as a consolidator to fuel its growth. Numerous acquisitions have been made over the years, including 11 so far this year.<\/p>\n

Other transactions are expected because the big boss, Alain B\u00e9dard, maintains that the intention is to conclude even more next year.<\/p>\n

He notably highlighted last month during a conference call with analysts that he assesses between 65% and 70% the probabilities that TFI will make a \u201csignificant\u201d acquisition in 2024.<\/p>\n

Alain B\u00e9dard also affirmed that it is the \u201csolid\u201d financial base of the company which makes it possible to \u201cstrategically\u201d allocate capital to make acquisitions, share buybacks, and improve the dividend.<\/p>\n

TFI shares remained relatively stable Thursday on the Toronto Stock Exchange. The current price puts a value of approximately $13.5 billion on TFI. The stock also trades on the New York Stock Exchange.<\/p>\n

Large Quebec institutional investors increased their transactions last summer in order to position themselves for the fall. Here are some actions worthy of mention.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Caisse de d\u00e9p\u00f4t et placement du Qu\u00e9bec has just acquired its very first shares of TFI, and it is by massively purchasing shares of the Montreal company formerly called TransForce in recent months that this new investment has carved out a place in its portfolio . Quebec’s largest institutional investor has purchased approximately $200 […]<\/p>\n","protected":false},"author":4,"featured_media":63483,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-63484","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-breaking"],"_links":{"self":[{"href":"https:\/\/wirenewsfax.com\/wp-json\/wp\/v2\/posts\/63484","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wirenewsfax.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wirenewsfax.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wirenewsfax.com\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/wirenewsfax.com\/wp-json\/wp\/v2\/comments?post=63484"}],"version-history":[{"count":0,"href":"https:\/\/wirenewsfax.com\/wp-json\/wp\/v2\/posts\/63484\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wirenewsfax.com\/wp-json\/wp\/v2\/media\/63483"}],"wp:attachment":[{"href":"https:\/\/wirenewsfax.com\/wp-json\/wp\/v2\/media?parent=63484"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wirenewsfax.com\/wp-json\/wp\/v2\/categories?post=63484"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wirenewsfax.com\/wp-json\/wp\/v2\/tags?post=63484"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}