One of the largest shareholders of SNC-Lavalin has just significantly reduced its exposure to the Montreal engineering firm.
The sale of blocks of shares in SNC-Lavalin (which we must get used to calling AtkinsRéalis) throughout the month of September by Jarislowsky Fraser pushed the stake of the Montreal institutional investor below the 10% mark. .
Jarislowsky says in a filing with stock exchange authorities that it began October with a 9.85% stake in SNC-Lavalin, meaning the asset manager is no longer required to report its transactions on the stock, unless its stake goes back above the 10% threshold.
A first analyst this week launched official coverage of the activities of Groupe ADF, a Terrebonne company specializing in steel superstructures. Atrium’s Nicholas Cortellucci suggests buying, noting that ADF is entering a multi-year growth phase thanks to significant tailwinds from infrastructure spending and non-residential construction. He also points out that ADF added a robotic manufacturing line to its Terrebonne factory in the last two years, which made it possible to considerably increase margins. He adds that the company has significantly improved its balance sheet over the past year and that the valuation multiple remains lower than comparables even though ADF’s stock is up around 170% over the past 12 months.
An auction process for spectrum licenses in the 3800 MHz band will begin in the country on Tuesday. The hundreds of millions expected to be spent by telecommunications companies will be closely watched by investors. The rise in interest rates over the past year is an element which should, however, ensure a minimum of discipline among auction participants. It will be particularly interesting to see how much BCE will pay out while the company’s ability to maintain the growth of its dividend has been a topic of conversation for a while.
The Colabor Group remains under the radar as its stock continues its recovery on the stock market. Only one analyst officially covers the activities of the Saint-Bruno supplier today. He recommends the purchase. Its target is $2, which represents a 70% appreciation over a 12-month horizon.
Portfolio manager Daniel Ouellet, of the Ouellet Bolduc Group affiliated with Desjardins Wealth Management, reveals in his quarterly financial letter published Friday that he invested at the beginning of October almost all of the excess liquidity accumulated during the third quarter in three new positions on the Canadian market: BCE, Telus and TC Energy.
Down approximately 35% since its summer high, Air Canada stock maintains majority support on Bay Street. Twelve of the 14 analysts who officially follow the activities of the Montreal air carrier still recommend buying the stock. Their 12-month average target is $30, the equivalent of over 75% appreciation from the current price.
The chief technology officer at BRP has just made a gross gain of more than $220,000 by selling shares of the Valcourt-based recreational vehicle manufacturer. Thomas Uhr exercised 2,550 options on October 11 at a strike price of $20.33 and then sold these securities at a unit price of $107.21.
The Quebec stocks of Groupe Colabor, Stella-Jones, Groupe ADF, Coveo, H2O Innovation and OpSens hit a 52-week high this week on the Toronto Stock Exchange.
On the other hand, those of the National Bank, Savaria, Saputo, Pages Jaunes, Boralex, Innergex, Laurentian Bank, Air Canada, MTY Group, Cogeco Communications, TVA Group and Transcontinental slipped this week to a low of the last 52 weeks.