SNC-Lavalin’s second largest shareholder, Jarislowsky Fraser began April with a stake down more than 2.5% in the Montreal engineering consulting firm.
Posted at 7:00 a.m.
This decrease is explained by a fluctuation in assets under management, and not by an investment decision, explains Jarislowsky in a document sent to the stock market authorities.
The Montreal asset manager and second largest shareholder of SNC Lavalin after the Caisse de dépôt et placement du Québec specifies that the net decrease of 5.3 million shares of SNC in the portfolio is equivalent to an approximate decrease of 3% compared to the number of shares held during the previous declaration to the authorities.
The institutional investor said he started April with 18.8 million shares of SNC, the equivalent of a 10.7% stake.
The largest shareholder of Richelieu Hardware sold shares of the Montreal specialty hardware distributor during the month of March. A regulatory statement says Calgary asset manager Mawer Investment’s Richelieu stake to kick off April was 6.9 million shares, or 12.3%. Without disclosing the exact number of shares sold in March, Mawer said the number of Richelieu shares in the portfolio is 2.1 million fewer than in the spring of 2018.
the NC lost Friday the support of the firm Raymond James. Analyst Steve Hansen no longer suggests buying the title of the Montreal rail carrier. Its decision is essentially linked to the macroeconomic context. “A host of indicators point to an economic slowdown and are beginning to cloud the recovery in trade for the second half of the year as well as next year. »
Goodfood Market lost the support of the firm Stifel GMP at the start of the week. After analyzing the most recent results, which he considers “disappointing”, analyst Martin Landry withdraws his buy recommendation, pointing out that the return to revenue growth continues to be postponed. He notes in passing that competition is increasingly fierce in the delivery of groceries on demand. He warns that the company may need additional financing to support its growth projects, which suggests a possible dilution. Cost-cutting measures could also create logistical problems, he said.
The headlines surrounding the Publisac aren’t good these days, but recent investor reaction to Transcontinental is grossly exaggerated, argues analyst Adam Shine of National Bank Financial in a note released Thursday. “Transcontinental’s story is not based on flyers, but rather on the development of its packaging activities and growth opportunities in printing. »
An administrator of Therapeutic Knight has just bought shares in the Montreal pharmaceutical company. Janice Murray bought a block of 1,900 shares on April 13 at a unit price of $5.30. She has been a board member for two years.
“Several experts believe that central banks will have to raise rates more aggressively than markets expect to curb inflation and that this will trigger a recession. This is quite possible”, underlines the president and portfolio manager Stéphane Préfontaine, of the firm Préfontaine Capital, in his quarterly letter published this week.
“Recessions are healthy and necessary phenomena for the economy since they help to clean up the excesses that accumulate over the years: excess debt and liquidity, excess consumption, excess confidence and excess in the price of assets such as real estate and stocks. A fall in the economy, financial and real estate markets would only be normal, and we, long-term investors, do not worry about that. »
The big boss of NanoXplore bought a block of 20,000 shares of the Montreal producer of graphene on Thursday. This is a transaction worth approximately $75,000 for Soroush Nazarpour.
The Quebec titles ofUni-Select, Dollarama, Food Couche-Tard and ECB all hit another 52-week high on the Toronto Stock Exchange this week. In contrast, the Quebec titles of Lion, Tecsys, Dorel, Savaria, Coveo, Richelieu Hardware, Lassonde, Bausch Health, mdf trade, Transcontinental and Neptune all hit 52-week lows.