New Flyer Industries Inc. (NFI.TO)

It does not grow much organically. It is mostly a replacement market. 3-5% growth. They have done well through acquisitions. Their recent backlog is really strong and that is why it has run up. He would reduce it.

(A Top Pick April 5/17 - Up 16%.) Leader in the transit bus market and also motor coach market. Good earnings growth forecast for this year. They do 90% of their sales in the US so the tax cuts will help them. Trading at 16 times earnings.

(A Top Pick April 26, 2017. Up 15.15%). This is a bus maker. They continue to do quite well and have added new contracts. There’s a general upgrading of bus fleets in the US. The main competitor makes smaller buses and is doing well also.

Waiting for a pull back. Missed an opportunity back in December. Good growth bus building company. They have operations south of the border, so no concern of what Trump does about NAFTA. Excellent growth record. (Analysts’ price target is $ 64)

Used to pay a high dividend. It is maintained and increased. He continues to own it and you can buy it here. The order backlog is still out there for 3 or 4 years. They are very well managed.

Recently sold her holdings as it seemed the stock was rolling over. Also, there was more and more concern about potential new competitors coming into the space, particularly on the electric bus side. One reason the company did so well was because of a few bankruptcies and consolidations, so pricing power was really good and there were a minimal number of players. The company subsequently made an acquisition, and the stock has gone on, getting close to its old highs. It seems to still have a good runway with some good upside in the stock.

Has liked this for very long time, and has done very well with it. An extremely well-managed company. One of the remaining bus and coach manufacturers in North America. Recently preannounced deliveries for the 4th quarter of last year, and are running well ahead of estimates. Have significant operations in the US, and have indicated the new forthcoming tax changes will reduce their tax rate down to around 30%. He wouldn't be a buyer today, but if there was a pullback of 15%-20%, he would look at it quite seriously. Dividend yield of 2.4%.

(A Top Pick Feb 21/17. Up 7%.) He was taken out of the stock when there was a significant price decline.

(A Top Pick Feb 21/17. Up 29%.) The outlook is still pretty good. A lot of municipalities in the US are basically playing catch-up in building up their fleets.

Wonders at how much more good news there can be in this. They’ve benefited a lot from attrition in the industry. Also, have diversified more into service and parts, which has been very good for them. At current multiples, it is trading at close to 5X BV and 20X Forecast Earnings with a yield of 2.4%. Feels the weight has shifted more to the downside than to the upside.

There probably won’t be a better time to buy as it has been in a state of pause. You probably have a buying point for the long term. It is a good company and is very well run.

In a world where everything is expensive, you try to choose a name that is expensive, but gives you growth. This company continues to be positioned well. The stock has taken a bit of a pause, so he likes that as an entry point. They are doing a lot of things right. They are continuing to do acquisitions and grow. The key is the recent softness on the share price. A bonus is some of the tax reform which they will benefit from. Dividend yield of 2.5%. (Analysts’ price target is $62.)

This has a couple of problems. Its earnings forecasts have kind of levelled out, and FMV is about $47-$40 and the stock is at about $51. Also, there is quite strong technical resistance at about $53. He would give this a pass for now.

This has done extremely well. Just acquired ARBOC Specialty Vehicles out of the US, and expects it to be immediately accretive to earnings. Public transportation should, theoretically, be going under a resurgence. Dividend yield of 2.6%. Probably a good name to hold.

Not a particularly exciting industry. They did an acquisition in 2012 and it has been a transformational one. They made another today and the stock price reacted favorably. He thinks this announcement just solidifies his opinion of this being a great company. They have a nice dividend. (Analysts’ target: $62.00).