Posted at 7:00 a.m.
Asset managers at Mackenzie bought more than $10 million worth of BRP stock last month, boosting their stake in the Valcourt-based recreational vehicle maker to more than 15%.
One of the largest institutional shareholders of BRPMackenzie purchased 138,699 shares in June, bringing the number of company shares held for its clients to more than 5.5 million.
The document filed with the authorities reporting this operation does not indicate the precise dates of the purchase transactions.
The document, however, points out that Mackenzie has now added 727,024 shares of BRP to its portfolios over the past 9 months (from the beginning of October to the end of June).
The largest institutional shareholder of Waterfalls recently increased its stake in the Quebec paper company. Montreal asset manager Letko Brosseau bought a total of 22,400 Cascades shares on June 30. A regulatory document specifies that Letko Brosseau began the month of July with a 10.2% stake in Cascades.
Waterfalls lost the recommendation of RBC earlier this week. Analyst Paul Quinn on Monday withdrew his buy suggestion on the title of the papermaker. He says he’s on the sidelines in part because an economic downturn poses risks to the company’s operations in Virginia, where Cascades has undertaken to reconfigure a newsprint machine to make lightweight linerboard and corrugating paper. recycled for the North American market.
The agreement unveiled earlier this week between Suncor and Elliott Management — an activist institutional investor from Florida — are rekindling the possibility of witnessing a sale of Petro-Canada and, in particular, a transaction involving Couche-Tard. Elliott Management asked Suncor in April to conduct a strategic review of operations affecting Petro-Canada, and the agreement announced this week will do just that.
“As with any major transaction, I expect Couche-Tard to participate in a potential process involving Suncor’s retail assets, but market concentration in Canada likely prevents Couche-Tard from to make an offer for the entire network,” said analyst Irene Nattel of RBC.
“With just under 300 stores in Western Canada, Couche-Tard would be well positioned to bid for the portion of stores located in Western Canada. But Couche-Tard would possibly come up against the Competition Bureau, particularly in Quebec and in certain markets in Ontario, which suggests that a partner could be necessary. »
An administrator at Richelieu Hardware has just bought $75,000 worth of shares in the Montreal hardware supplier. Lucie Chabot bought a block of 2,000 shares on July 12. These are his first share purchases since joining Richelieu’s board of directors in 2020.
“If there’s one piece of advice that won’t be repeated enough, it’s that right now is not the time to be a seller,” says the Montreal asset manager. Palos in its weekly financial letter.
As already mentioned warren buffett, Palos mentions that the best time to buy anything in life is when there are discounts. The key to success in investing has always been to remain disciplined, he said. “Volatility and uncertainty are the most important elements for the creation of oversized opportunities on the stock market. »
Palos ends by recalling that the bottom of the barrel will be reached on the stock market without prior warning and while the headlines of the news will still be negative.
The Quebec titles ofUni-Select and of Boralex hit a 52-week high on the Toronto Stock Exchange this week.
At the opposite, Waterfalls, Yellow Pages, Guru, Cogeco, Goodfood Market and Transat all reached a 52-week low this week.