Power Co. of Canada (OTCMKTS:PWCDF) Stock Price Down 2.3% – Here’s Why

Power Co. of Canada (OTCMKTS:PWCDF)’s stock price dropped 2.3% on Friday. The company traded as low as $65.55 and last traded at $65.93. 14,376 shares traded hands during trading, a decline of 89% from the average daily volume of 125,250 shares. The stock had previously closed at $67.4950.

Analysts Set New Price Targets

Several research analysts have issued reports on PWCDF shares. 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. BMO Capital Markets restated a “market perform” rating on shares of Power Co. of Canada in a research note on Friday. TD Securities reaffirmed a “hold” rating on shares of Power Co. of Canada in a report on Friday, July 31st. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Power Co. of Canada in a report on Friday, July 24th. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Power Co. of Canada currently has an average rating of “Moderate Buy”.

Power Co. of Canada Stock Performance

The business has a 50-day simple moving average of $65.87 and a two-hundred day simple moving average of $62.37.

Institutional Investors Weigh In On Power Co. of Canada

An institutional investor recently raised its stake in Power Co. of Canada stock. Cullen Capital Management LLC increased its stake in shares of Power Co. of Canada (OTCMKTS:PWCDF) by 2.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm 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 as of its most recent SEC filing. Institutional investors own 41.73% of the company’s stock.

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.