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

Power Co. of Canada (OTCMKTS:PWCDF)’s share price dropped 1.1% on Monday. The company 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 daily volume of 128,386 shares. The stock had previously closed at $66.66.

Analyst Ratings Changes

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

Power Co. of Canada Stock Down 1.1%

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

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Power Co. of Canada stock. Cullen Capital Management LLC boosted its position in Power Co. of Canada (OTCMKTS:PWCDF) by 2.1% in the second quarter, according to its most recent filing with the SEC. The institutional investor 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 as of its most recent SEC filing. Institutional investors and hedge funds own 41.73% of the company’s stock.

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.