Power Co. of Canada (OTCMKTS:PWCDF) Shares Down 1.1% – Time to Sell?

Power Co. of Canada (OTCMKTS:PWCDF) shares dropped 1.1% on Monday. The stock traded as low as $65.75 and last traded at $65.91. 209,349 shares traded hands during mid-day trading, an increase of 63% from the average session volume of 128,386 shares. The stock had previously closed at $66.66.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on PWCDF shares. BMO Capital Markets reissued a “market perform” rating on shares of Power Co. of Canada in a report on Friday, July 31st. Jefferies Financial Group upgraded shares of Power Co. of Canada from a “hold” rating to a “buy” rating in a research report on Friday, July 31st. TD Securities reaffirmed a “hold” rating on shares of Power Co. of Canada in a research note on Friday, July 31st. Finally, Scotiabank reiterated an “outperform” rating on shares of Power Co. of Canada in a report on Friday, July 24th. Four investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Power Co. of Canada currently has a consensus rating of “Moderate Buy”.

Power Co. of Canada Stock Performance

The firm’s fifty day simple moving average is $66.90 and its 200 day simple moving average is $60.46.

Institutional Investors Weigh In On Power Co. of Canada

A hedge fund recently raised its position in Power Co. of Canada stock. Cullen Capital Management LLC boosted its stake in Power Co. of Canada (OTCMKTS:PWCDF) by 2.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 886,766 shares of the company’s stock after acquiring an additional 18,490 shares during the quarter. Cullen Capital Management LLC’s holdings in Power Co. of Canada were worth $55,121,000 as of its most recent SEC filing. 41.73% of the stock is currently owned by institutional investors and hedge funds.

About Power Co. of Canada

Power Corporation of Canada is a diversified international management and holding company focused primarily on financial services and asset management. Through its operating companies and strategic investments, the company has exposure to insurance, retirement and investment products, wealth management, and alternative investments.

Its principal holdings include Great-West Lifeco, which provides insurance, retirement, investment and related financial solutions; IGM Financial, which operates wealth management and investment management businesses; and Power Sustainable, an investment platform focused on sustainable and alternative assets.