Stock price when the opinion was issued
His resource of choice is water and wastewater. This company is into irrigation equipment. They've been able to advance, through technology, to have satellite shots of irrigation equipment so it can be controlled anywhere on the farm. 60% of sales are in the US and 40% is international, particularly in Brazil. Dividend yield of 1.4%. (Analysts price target is $83.)
Water irrigation equipment. Commodity prices are low, so farmers aren't buying systems. Satellite technology makes targeted irrigation cheaper. Road infrastructure business fairly stable. Capped costs. Earnings margins have gone up, so cashflow can be allocated to a higher dividend, R&D, and tuck-in acquisitions.
Serial acquirers tend to do better than the indices over a 10-20 year time horizon, and that's his focus.
Pivot irrigation, which is the hardware component. The software component provides data analytics for crop moisture, alerts for leaks, etc. Very much domestic US sales, so will benefit from the America First policies.