The Smart Investor | More BRP at Mackenzie

Every Sunday we put the spotlight on financial and stock market news that may be useful to the investor but may have stayed under the radar.

Posted at 7:00 am

Richard Dufour

Richard Dufour
The press

Mackenzie’s money managers bought more than $10 million worth of BRP stock last month, increasing its stake in the Valcourt-based recreational vehicle maker to over 15%.

One of the largest institutional shareholders of BRPMackenzie purchased 138,699 shares in June, taking the company shares held on behalf of its clients to more than 5.5 million.

The document submitted to the authorities reporting this operation does not give the exact dates of the purchase transactions.

However, the document points out that Mackenzie has now added 727,024 shares of BRP to its portfolios over the past 9 months (from early October to late June).

The largest institutional shareholder of water falls recently increased its stake in the Quebec paper company. Montreal money manager Letko Brosseau bought a total of 22,400 Cascades shares on June 30. A regulatory document indicates that Letko Brosseau started July with a 10.2% stake in Cascades.

water falls lost the recommendation from RBC earlier this week. Analyst Paul Quinn withdrew his buy recommendation on the paper manufacturer’s stock on Monday. He says he’s on the sidelines in part because an economic downturn poses risks to the company’s Virginia operations, where Cascades has committed to reconfiguring a newspaper press to produce lightweight linerboard and corrugated paper that is recycled for the North American market .

The agreement was unveiled earlier this week between Suncor and Elliott Management — an activist Florida institutional investor — are reviving the possibility of witnessing a sale of Petro-Canada and, in particular, a transaction 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 will participate in a potential lawsuit involving Suncor’s retail properties, but market concentration in Canada is likely to prevent Couche-Tard from bidding on the entire network,” said RBC analyst Irene Nattel.

“With nearly 300 stores in Western Canada, Couche-Tard would be well positioned to bid for the Western Canada portion of stores. But Couche-Tard would potentially run into the competition bureau, particularly in Quebec and certain Ontario markets, suggesting a partner might be needed. »

An admin at Richelieu hardware just bought $75,000 worth of stock in the Montreal hardware supplier. Lucie Chabot bought a block of 2,000 shares on July 12. These are his first stock purchases since joining Richelieu’s board of directors in 2020.

“If there’s one piece of advice that doesn’t get repeated often enough, now is not the time to be a salesman,” says the Montreal-based wealth manager. palos in its weekly financial letter.

As already mentioned Warren Buffett, Palos mentions that the best time in life to buy anything is when there are discounts. The key to success in investing has always been staying disciplined, he said. “Volatility and uncertainty are the key elements in creating outsized opportunities in the stock market. »

Palos concludes by reminding that the bottom of the barrel in the stock market will be reached without warning and the news headlines will continue to be negative.

The Quebec titles ofUniSelect and from Boralex hit a 52-week high on the Toronto Stock Exchange this week.

On the contrary, water falls, Yellow Pages, guru, cogeco, Goodfood market and transfer all hit 52-week lows this week.

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