Power Co. of Canada (OTCMKTS:PWCDF) Stock Falls 1.1% – What’s Next?

Power Co. of Canada (OTCMKTS:PWCDF) traded down 1.1% on Monday. The company traded as low as $65.75 and last traded at $65.91. Approximately 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.

Analysts Set New Price Targets

PWCDF has been the subject of a number of research analyst reports. TD Securities reaffirmed a “hold” rating on shares of Power Co. of Canada in a research report on Friday, July 31st. BMO Capital Markets reissued a “market perform” rating on shares of Power Co. of Canada in a research report on Friday, July 31st. Jefferies Financial Group raised Power Co. of Canada from a “hold” rating to a “buy” rating in a research report on Friday, July 31st. Finally, Scotiabank reiterated an “outperform” rating on shares of Power Co. of Canada in a research note on Friday, July 24th. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy”.

Power Co. of Canada Stock Performance

The company’s 50 day moving average price is $66.91 and its 200-day moving average price is $60.34.

Institutional Trading of Power Co. of Canada

A hedge fund recently raised its position in Power Co. of Canada stock. Cullen Capital Management LLC lifted its holdings in shares of Power Co. of Canada (OTCMKTS:PWCDF) by 2.1% during the second 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 buying an additional 18,490 shares during the quarter. Cullen Capital Management LLC’s holdings in Power Co. of Canada were worth $55,121,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 41.73% of the company’s stock.

Power Co. of Canada Company Profile

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.