Badger Infrastructure (BDGI.TO)

Going to have a 3 for 1 stock split shortly, which is very positive in his math and it will increase his model price. Closed at $90.40 and he has a model price of $67.09, a negative 25%. He would love to see it pull back to the $76 range.

He likes splits. This thing is astounding. Bought not that long ago. It is the major in North America in its business. Prefers LNS-T

Sold half his position at $65. Has not bought any for new accounts since but he would if it had a correction. Management is excellent.

(Top Pick Jan 8/13, Up 195.97%) He sold after he doubled his money. Sold too early. It is not cheap enough any longer for him, but a great company with wonderful management.

(A Top Pick Aug 28/13. Up 49.13%.) Expanding quite a bit in the US. Had an incredible run but still thinks it has a lot of room. Have grown 99% organically. They manufacture Hydro Vac trucks. Competition comes from traditional back hoe work, which is mechanical and can be quite damaging. This company does their work with water, which is less damaging and less intrusive. It allows them to do a lot more specialized work. They have a manufacturing facility that manufactures 3 trucks a week and are now expending to 5 trucks a week and are running at peak volume. They will do about $85 million EBITDA this year and probably north of 100 million next year.

(Market Call Minute) Gotten a little ahead of itself.

Has had a fantastic performance over the last year. This is primarily because of the acquisition engine and acquisition pipeline that it has, particularly in the US. They have done a bunch of those and now is really the time for them to execute. It is now a little bit of a wait-and-see approach, given the run that it has had.

Chart shows a massive base from 2005 to 2012 with a major breakout. There is no end to the upside. He wouldn’t acquire it here but if you own, you may want to trim some of your position.

(Market Call Minute) Superb track record, 19-24 times PE. It is justified, but he would not pay that for a stock.

(Top Pick Oct 03/12, Up 175.58%) He has been out for a while and then it just kept going up. He thought it was getting too rich and still thinks so.

He sold half his position last week because the yield is now under 2% and is not the value it was when he bought it. He got a triple on it. Thinks there is still more upside. Someone could come along and buy them. They are an industry leader.

Great little company. Basically vacuum excavators. Great play on oil and gas, as well as infrastructure, road building, pipelines, etc. Top quality management and assets. Probably fairly valued here.

Has been doing really well in the last little while and she thinks this is because they have been converting their presence into a lot of orders in California. Pretty much saturated in Canada, so all of the growth is going to be pretty much out of the US. She has not been trimming her holdings.

Still buying this for new accounts. The company continues to exceed his expectations in sales and earnings growth. Have moved big-time into the US market, which is a big growth area. They are the only corporate name down there, so they are a consolidator in what is going to be a huge business.

(A Top Pick May 23/13. Up 16.75%.) There is more room to run. Very strong quarter with EBITDA up almost 50% year-over-year. Half of their businesses in Canada and half in the US. Canadian business is pretty mature but is still growing at about 20% a year. They don’t have to fund any of their growth through dilution. Could probably increase the dividend. Trading on an 8X multiple but probably deserves a 10X multiple. Not volatile.