TFI International Inc (TFII-T)

Loves it. If you're made a nice profit, why not sell a third of it? Sell if a stock becomes larger than 6% in your portfolio.

Why the strength, when it's an economically sensitive business? One competitor declared bankruptcy, which will throw business their way. M&A is still a driver. He boosted price target to $180, but still a sector perform. 16x 2023 earnings, but growing at 18%, so PEG is still attractive. 

In registered accounts, he's taking some off the table, but in non-registered accounts he's letting it run. Likes it long term.

The question was on his preference between Toromont or TFI International. Although Toromnt is good he prefers TFI which has been a great stock and huge performer. It has great management which has deployed capital very well and made smart acquisitions. There is more upside.

One of the few large-caps he owns. Last year, they bought UPS freight, which hadn't been making money. TFI has a long track record of compounding capital at a high rate. Though trucking demand may be weak in coming quarters. But long term you will make 15-20% annually.

Likes all transportation, especially this one.

Trucking company with strong assets.
Buybacks and tuck-ins still an option.
Higher interest rates helping business.
Wait to buy more shares when price falls.

They just reported. The street likes their guidance. A former top pick of his and still owns it. It's well-positioned for the long term. There's a  huge different in their operating differential between Canada and the U.S. If they close that gap, their earnings will increase a lot. They just bought shares in a competitor, so maybe that's the first step in a full acquisition. Strong cash flow. They could increase their dividend, which is now modest, or increase buybacks.

It is an owner operated trucking company that is becoming an asset type of business, having made a great investment in buying a component from UPS. They are great asset allocators and could do 10 U.S. dollars per share in two years as well as see its share price reach $250 Canadian. An added attraction is that it will turn away business that is not profitable enough.

Owns shares and is one of few large caps that owns.
International trucking company that is very good a growing.
Very strong management team that is disciplined at capital allocation.
Will continue owning shares.
Lots of room for growth in the future.

(A Top Pick Jan 11/22, Up 11%) Pleased with economic performance. Supply chain bottlenecks have created large opportunity for company. Earnings slowing, but not a cyclical business. Very good at growing with very low costs. Not much debt with strong balance sheet.