Montreal clothing manufacturer Gildan is no longer popular on Bay Street.
Analyst Martin Landry, from the firm Stifel/GMP, withdrew his buy recommendation at the start of the week.
The 10 analysts who officially follow the stock all previously rated Buy. Gildan has just plunged into crisis after the dismissal of its CEO, a dismissal contested by several institutional shareholders.
Martin Landry believes that recent events at Gildan are fueling uncertainty and creating a distraction for the board of directors and management team.
Montreal asset manager Fiera Capital recently increased its investment in Tecsys. The Montreal-based supply chain management software provider’s Nov. 30 purchase of shares triggered a requirement to notify authorities that Fiera’s stake in Tecsys increased to 12.8% to begin December .
Fiera, very active in this stock, declared that it held a 10.6% stake in Tecsys in spring 2021. This investment was increased to 12.7% at the start of last year. Turnout had declined to 11.9% last spring.
The time has come to re-evaluate the dividend growth model at BCE, according to Scotia analyst Maher Yaghi. “It is possible to maintain the dividend growth rate at 5%, but this risks putting even more pressure on the balance sheet at a time when the interest expense is increasing and growth in average revenue per subscriber is less certain . In today’s competitive environment and more debt needs to be refinanced, moving to a lower dividend growth model would likely be more prudent. »
The head of Stingray’s revenue strategy purchased nearly half a million dollars worth of shares in the Montreal music services provider earlier this week. David Purdy bought 90,000 shares on Monday. Shareholder Denis Sirois, considered an insider, has purchased 15,000 shares of Stingray since the beginning of the month.
Two Bombardier executives have just sold a total of $3.3 million worth of shares in the Montreal private jet manufacturer. Executive Vice President, After-Sales Service and Strategy, Paul Sislian, sold a block of 36,000 shares on December 12, while Executive Vice President, Aircraft Sales and Bombardier Defense, Jean-Christophe Gallagher, sold a block of 32,000 shares on December 11.
The death of Warren Buffett’s business partner, Charlie Munger, is one of the defining moments of the year in finance. To pay tribute to him, CIBC strategist Ian de Verteuil wanted to identify which companies he could have suggested to Warren Buffett by focusing on the Canadian market. In a report published this week, Ian de Verteuil draws up a list of 20 stocks on which we find six Quebec companies: Dollarama, Couche-Tard, Metro, Banque Nationale, CGI and Stella-Jones. Long-term stock performance, profitability history and industry dynamics are factors taken into account to establish the list of stocks capable of generating above-average returns for shareholders over the long term. To please Buffett and Munger, the price must be reasonable, and to this end, five of the 20 titles stand out, but only one from Quebec: Stella-Jones.
A Couche-Tard director sold more than $400,000 worth of shares in the Laval convenience store chain this week. Marie-Josée Lamothe sold a block of 5,350 shares on Tuesday. She has been a board member since 2019.
Eight Quebec stocks are found on the list of best investment ideas for 2024 published this week by Desjardins: Couche-Tard, Savaria, Boralex, Stingray, TFI, Bombardier, Stella-Jones and AtkinsRéalis. There are 26 names on this list.
Three Stella-Jones executives have just purchased nearly $220,000 worth of shares in the Montreal manufacturer of telephone poles and railway ties. Big boss Éric Vachon bought 1500 shares on December 15th. On the same day, the company’s head of finance, Silvana Travaglini, bought 1,000 shares and Richard Cuddihy, head of human resources, bought 500 shares.
A Transcontinental executive has just purchased $100,000 worth of shares in the Montreal printer, also a specialist in flexible packaging. The vice president responsible for printing, Patrick Brayley, purchased a block of 7,700 shares on December 15.
The Quebec stocks of Quincaillerie Richelieu, ADF and CGI all hit a 52-week high this week on the Toronto Stock Exchange.
On the other hand, that of Marché Goodfood slipped to a new low of the last 52 weeks.
The Toronto Stock Exchange will be closed Monday and Tuesday for Christmas Day and Boxing Day.
This section marks a break for the holiday season. Returning January 14th.
