Bird Construction (TSX:BDT) is a TSX dividend stock I’d look to target in late August. This Mississauga, Ontario-based company operates as a general contractor across Canada. Shares of this TSX dividend stock have plunged 29% so far in 2022. That has pushed the stock into negative territory in the year-over-year period. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is C$9.64.
In the second quarter of 2022, Bird delivered construction revenue growth of 3.7% to $576 million. Bird stock possesses a very attractive P/E ratio of 8.7. Better yet, it offers a monthly distribution of $0.033 per share. That represents a strong 5.6% yield. Passive-income investors can celebrate!
Bird Construction Inc. operates as a general contractor in Canada. The company primarily focuses on projects in the industrial, commercial, and institutional sectors of the general contracting industry. It constructs industrial buildings, including manufacturing, processing, distribution, and warehouse facilities; undertakes structural, mechanical, piping, electrical, and instrumentation works that include off-site metal and modular fabrication; and provides insulation, metal siding and cladding, ductwork, asbestos abatement, and high voltage testing and commissioning services, as well as constructs power lines. The company also engages in the civil construction operations, such as site preparation and earthworks, underground piping, foundations, and other concrete services, as well as mine support and hydroelectric construction service; and civil infrastructure operations comprising road, bridge, rail, and underground utilities installation. In addition, it constructs and renovates hospitals, post-secondary education facilities, K-12 schools, recreation facilities, prisons, courthouses, government buildings, and long term care and senior housing facilities; and constructs and renovates office buildings, shopping malls, big box stores, hotels, and mixed-use high-rise and mid-rise residential projects, and well as offers electrical and related system services, which include electrical and mechanical infrastructure design and installation, data communications, security, and lifecycle services. It serves clients in the oil and gas, liquefied natural gas, mining, renewables, water and wastewater, nuclear, infrastructure, and residential sectors. Bird Construction Inc. was founded in 1920 and is based in Mississauga, Canada.