Aecon Group Inc (ARE.TO)

(A Top Pick Nov 29/12. Up 39.45%.) Still believes it is going a lot higher. Could have been his Top Pick today. Likes the oil infrastructure area and this company is getting into that now. Building infrastructure for small pipelines to join up with larger pipelines. Came out with some really good earnings last quarter. Great guidance going forward. Cash flow has been bang on. There are more and more jobs coming into the pipeline.

Has undergone a tremendous transformation over the last couple of years. Have been winning more contracts. The problem is that the price has moved up quite a bit to reflect this. Yield is around 2%. Expect we have seen most of the capital accumulation that we will be seeing, at least in the interim. Prefers Churchill Corp (CUQ-T).

(Market call Minute) There is good growth in the business. The sector is doing well.

Infrastructure and capital expenditure play. Has just reached a new 12 month high. It is likely that the underlying trends are going to continue a bit further.

Had a remarkable turnaround over the last couple of years. As a construction company, as opposed to an engineering company, there will be more volatility. Has done very well but he thinks this could continue. Seem to be lining up new contracts. Last quarter their book to bill ratio was over 1 and continues to be positive.

This needs some exciting news to break out past the $14 level. In the meantime, it looks okay but just be cautious as it is approaching its old level of resistance. 2.5% dividend yield.

Engineering/construction. Has been looking at this one lately. Have really reinvented themselves over the last 4-5 years. He currently owns Stantec (STN-T) which he feels is now getting to be fully valued.

It's been correcting a bit. Margin difficulties in 2009. There may be more weakness before it bottoms out. We need to see more growth on the construction side.

They are a bit lumpy. They occasionally miss on a contract. Stock took a hit because of a write off recently. 2.78% dividend. Recurring revenues are growing. You might get a multiple increase from it.

Has done very well recently and feels that management has really turned the company around. Went through a number of years with significant problems but seems to be doing extremely well and winning a lot of business lately. Price is pretty much reflecting good times ahead.

Likes the whole sector, especially this one. Didn’t announce any contracts last quarter and backlog has been reduced a little bit. Great quarter and strong balance sheet.

Likes infrastructure stocks. His preference would be SNC Lavalin (SNC-T). This one is starting to act better. It’s in the right area and is doing the right things and he likes the management.

Good management. Has been terrific in top line growth but could never come out with sustainable bottom-line earnings in the past. Just picked up a contract for an automotive race track they will be building. Still work in progress. In the penalty box. If they can put together a few sustainable quarters of good earnings where margins are picking up, they will do quite well.

Have a pretty good-looking backlog, which is what these companies trade on.

Excellent infrastructure company. Has a very, very big backlog of business. Looks very safe. There is a long run for project in Quito Ecuador (?) which he feels is probably arriving at a crucial important positive stage. Solid company.