TFI International Inc (TFII.TO)

Ranks barely in the top quarter of his Quant model. Year over year earnings growth were up 27% in the coming quarter. 15.6X PE against the 21% earnings growth. Assuming that the economic outlook for 2015 continues to be robust, this looks like a reasonable bet.

Thinks the current pullback is viable. You are getting a little more economic sensitivity, but you have a higher ability to grow the dividend. Management is very acquisitive and putting together a very good portfolio. Good management team. If the economy continues to grow, this company should do well.

Doesn’t see a dividend increase. Moved money to rail operators in the US east. Struggle with energy business. Want to grow by acquisition. Doesn’t see capital appreciation potential.

This still has room to grow. Had a bit of a pull back and this is a good buying opportunity. Well-run.

They came up with horrible earnings a month ago. They picked up Clark and Vitran. It was weather related. They are bullish on what they are doing. He would be a buyer. Load up the trunk.

Quickly becoming a monopoly trucker in Canada. What he really likes is their packaging and courier business, especially if Canada Post decides not to deliver packages. Retail through the Internet could be a tremendous opportunity for them. Generates a lot of free cash and there is lots of insider ownership. Thinks this is a $30 stock in a year’s time. Yield of 2.45%.

4 segments to this business. Packaging/Courier, less than truckload, specialized services, which includes energy and waste management. CEO is expecting a pretty much flat environment on the top line. Third-quarter revenue came in later than was anticipated. He is choosing this because of their operations, the way in which management goes out there, buys companies, and consolidates and integrates them. They have the ability to unload unnecessary assets and drive the cash flows into more strategic acquisitions. Yield of 2.73%.

Transportation sector has seasonality and starts around Oct 10th. Peaks out a little bit in November, and then once again runs into the springtime. Technically this one is looking really good right now. It is in a positive trend.

(Top Pick Oct 17/12, Up 28.11%) Results were a little lumpy last quarter and the quarter before that was devastating. They had trouble with trucking and courier areas and some short term headwinds coming but he will still hold it. Acquired VTZ.

Continues to like it. Long term value. Company struggled with rig hauling business because of a change in drilling but did a good job of growing through acquisitions. Transformed the company into package hauling (Courier) business. 2.5% dividend and unlikely to increase any time soon.

(A Top Pick Sept 26/12. Up 23.68%.) This was more of a valuation story and he sold his holdings to take profits. A good buy below $20.

An excellent barometer for the North American economy given that it is a full-service transportation provider right across North America provided both courier services and oil/gas transportation services. The record amount of online purchases that are going on will benefit courier and package delivery companies. Largest trucking fleet in Canada. Pretty good dividend of 2.57%.

(Top Pick Sep 26/12, Up 20.74%) It hit his valuation target. Growth by acquisition. There have been some issues since then with their oil rig moving business.

Benefited from a lot of acquisitions. Transformed the way they were doing business by getting into waste management and into the US with their P & C business. Saw valuations getting a little bit extended and when it hit his target he sold his holdings. About a week later they announced another deal in the US which will add to earnings. Good for a long-term hold. Safe dividend.

Great company and it’s going to go higher. Just upgraded his target to $24.50. Did a new acquisition which is going to provide further synergies in fuel growth. Have done a great job of buying other companies and making accretive synergies. Not that expensive.