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

Shares of Power Co. of Canada (OTCMKTS:PWCDF) were down 2.3% during mid-day trading on Friday. The company 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.

Analysts Set New Price Targets

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

Power Co. of Canada Stock Performance

The company has a 50-day moving average of $65.87 and a 200 day moving average of $62.37.

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% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 886,766 shares of the company’s stock after purchasing 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. 41.73% of the stock is currently 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.