If Aecon follows the same pattern many of us here experienced with SNC then we certainly do have a golden opportunity. Like I said before, holding SNC for the roughly 4 years was pretty brutal with the big swings in price there. They did get to the promised land for now it seems. Sold most of my holdings there and have very little left.
Started buying Aecon a few weeks ago and currently have an avg price of $14.75. I liked the ER news this week and about the share buyback of 3.1m shares. I hope they increase the divy too. Although at 4.86 percent yield now it's pretty decent too. With interest in Canada starting to come down now, those who didn't lock in a GIC rate of over 5 percent will no longer get 5 percent going forward but instead a lower and lower rate. Interest are coming down. GIC's are not the place to be going forward. Instead one should focus on dividend paying stocks that are trading at very low p/e's but have huge growth in front of them. Infrusture is crumbling the throughout the world over and needs to be replaced. Big boom coming. Aecon seems to fit that bill pretty good and is in the sweet spot here imo.
I am looking to continue to add on pullbacks. Have limit orders placed and hopefully they get filled before the inevitable bull run up.
With its huge backlog and projects in the pipeline and maybe not recognized on its books like some of you said, we could very well have a hidden gem not yet fully valued or appreciated by Mr. Market.
Hopefully we get valued appropriately as a risk free company by eoy 2025.
This one could very well already have a bullseye on its back as a takeover target. The volumes are picking up here. Could get very interesting here.
Glad I bought after that pullback from the recent $17.40 high price. Was waiting for that pullback. Am already up in profits in short order. More to come imo.
Ron