Power Co. of Canada (OTCMKTS:PWCDF) Stock Price Down 2.3% – What’s Next?

Power Co. of Canada (OTCMKTS:PWCDF)’s share price traded down 2.3% during mid-day trading on Friday. The stock traded as low as $65.55 and last traded at $65.93. Approximately 14,376 shares were traded during trading, a decline of 89% from the average session volume of 125,250 shares. The stock had previously closed at $67.4950.

Analyst Ratings Changes

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

Power Co. of Canada Stock Performance

The firm’s 50 day simple moving average is $65.87 and its 200 day simple moving average is $62.37.

Hedge Funds Weigh In On Power Co. of Canada

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

About Power Co. of Canada

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

Power Corporation’s principal publicly traded holdings include Great-West Lifeco, an international insurance and financial services group, and IGM Financial, a Canadian investment and wealth management company.