Q: Any reason for big sale on Wsp? Is there any reason not to add to it. I have a very small position in NVO . Which has become smaller..is there any reason to add to it?or would you consider selling it and buying Lly instead. Thanks. Shyam
5i Research Answer:
WSP is down as its largest shareholder, Caisse Depot of Quebec, has sold 2.06M shares. It continues to own 14% of the company. This sale in now way has any impact to the company's fundamentals and we would see the dip as a buying opportunity. WSP reports May 6. Note the Caisse also sold shares last year and the stock is up 14% since that sale. If a single position, we would much prefer LLY over NVO.