One of GDI’s largest institutional shareholders has just increased its investment in the Montreal company specializing in building management and maintenance.
Asset manager Medici, from Saint-Bruno-de-Montarville, has just informed the stock market authorities that it began the month of November with a 12.7% stake in GDI.
Medici says it purchased $772,143 worth of shares during the October 12 trading session. The 19,800 shares acquired that day were purchased at an average unit price of $39.
Power Corporation gained the trust of Securities Desjardins at the beginning of the week. After reading the quarterly performance published on Monday, analyst Doug Young now recommends purchasing the shares of the Montreal financial conglomerate. The stock’s market valuation is attractive to him because of the size of the discount to net asset value. He cites the dividend yield which stood at 6.2% at the start of the week and the company’s share buybacks as items of interest. There are now two analysts out of eight to suggest buying.
Three weeks before the publication of Transcontinental’s end-of-year financial performance, National Bank Financial is suggesting buying the shares of the Montreal printer specializing in flexible packaging. In a note sent to clients on Thursday, analyst Adam Shine changed his recommendation to “buy” noting that the stock’s valuation is simply too cheap to ignore. Transcontinental will present its next quarterly results on December 12.
A senior executive at Canadian National has just sold nearly $920,000 worth of shares in the Montreal rail carrier. Senior Vice President and Head of Stakeholder Relations at CN, Janet Drysdale sold a block of 5,995 shares on November 9 at a unit price of $153.46.
Asset manager Mirabaud argues in its November financial letter published this week that it continues to favor a reduction in exposure to cyclical sectors in the absence of a recovery in global demand. “We have lowered our exposure to the consumer discretionary sector in Europe, as well as the US financials sector, whose relative earnings outlook is lagging. At the same time, we increased our overall exposure to the energy sector which should benefit from the rise in oil prices. »
The big boss of Power Corporation bought $905,000 worth of shares of the Montreal financial conglomerate mid-week. Jeffrey Orr purchased 25,000 shares on Wednesday at a price of $36.20 per share.
The beginning of the week will be shortened on the American markets due to Thanksgiving. The New York Stock Exchange and NASDAQ will be closed on Thursday and Friday’s trading session will end at 1 p.m. for the upcoming annual long weekend of festivities in the United States.
The Quebec stocks of Lassonde, Gildan, Groupe Colabor, Dollarama, Alimentation Couche-Tard and Stella-Jones all hit a 52-week high this week on the Toronto Stock Exchange.
On the other hand, those of Cogeco, Saputo, Groupe TVA, Alithya, Cogeco Communications and Senvest Capital slipped this week to a 52-week low.
Hats off to the owner of the Alouettes, Pierre Karl Péladeau, who risks lifting the Gray Cup at arm’s length in the evening barely eight months after purchasing the club.