Stuart Olson Inc | StockChase
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Stuart Olson Inc (SOX-T)

Last Price Recorded: $6.0900 on 2017-11-17

ON STOCKCHASE SINCE Jul 2007

Formerly Churchill Corporation (The)

REAL ESTATE

Stuart Olson Inc


Signal Opinion Expert

2017-10-25

SPECULATIVE BUY
Stuart Olson Inc (SOX-T)

They were losing money a few years ago because of fixed price contracts. Now they have diversified into more electrical, construction and buildings. Mostly an Alberta dominant company and they had a lot of exposure to gas & oil which hasn’t helped them. It’s a higher risk/reward situation but it could go up significantly if the infrastructure spending gets off the ground.

REAL ESTATE
Michael Sprung

President, Sprung Investment Management

Price: $5.270
Owned: Yes

2017-09-13

COMMENT
Stuart Olson Inc (SOX-T)

This has had its share of difficulties over the years, with some fixed price contracts that went overpriced. There was also a slowdown in energy industry, and they were largely exposed to Alberta at the time. They’ve made attempts to diversify. With the proposed spending going forward on infrastructure, their industrial segment should pick up. Believes this still has significant upside.

REAL ESTATE
Michael Sprung

President, Sprung Investment Management

Price: $5.300
Owned: Yes

2017-06-07

PAST TOP PICK
Stuart Olson Inc (SOX-T)

(A Top Pick July 15/16. Down 17%.) In this infrastructure environment, he thinks it will do okay eventually. They have diversified their business and are not as Western dependent as they were. As money gets allocated to more building and infrastructure projects, this will do better than it has.

REAL ESTATE
Michael Sprung

President, Sprung Investment Management

Price: $5.290
Owned: Yes

2017-03-17

COMMENT
Stuart Olson Inc (SOX-T)

He is a long-suffering shareholder of this. He keeps waiting for things to go right for them. They always seem to be just on the cusp of things turning around and going right, and believes they will. Doesn’t feel the dividend is under any immediate jeopardy, but if conditions continue as they did last year, particularly in Alberta, the dividend could be affected. With all the spending that’s been forecast in the Alberta budget, he believes they will get their share, which would make them highly leveraged to a recovery. Feels it is worth far more than what it is trading at.

REAL ESTATE
Michael Sprung

President, Sprung Investment Management

Price: $5.800
Owned: Yes

2017-02-01

PAST TOP PICK
Stuart Olson Inc (SOX-T)

(A Top Pick Jan 7/16. Up 8.19%.) This has been a troubled company. They ran into some contracts that went over budget. Largely exposed to energy, but are also very well exposed to infrastructure and mining. Made an acquisition a couple of years ago, which in the next quarter there might be a possibility of a write down on it. We are beginning to see potential signs of a turnaround. At these levels, he would be buying.

REAL ESTATE
Michael Sprung

President, Sprung Investment Management

Price: $5.330
Owned: Yes

2016-12-21

COMMENT
Stuart Olson Inc (SOX-T)

This ran into significant trouble and were in a lot of fixed-price contracts that went over costs. They have had to totally restructure the company. Also, they are primarily a Western exposed company, and more on the construction side rather than engineering in the equation. Feels they have been overlooked. If there is going to be any increase in infrastructure spending, particularly out west, this is certainly one of the companies that will benefit. Relative to the group, it looks very inexpensive, but it is a much higher risk/reward than some of the others.

REAL ESTATE
Michael Sprung

President, Sprung Investment Management

Price: $5.900
Owned: Yes

2016-11-04

COMMENT
Stuart Olson Inc (SOX-T)

This is sort of a “go to” construction company, which is unfortunately situated in Alberta. Every quarter when you are expecting things to look like they are improving, they seem to run into 1 or 2 problems somewhere, and this quarter is no different. There were some large contracts they were working on, that ran into cost overruns and delays. Thinks they are going to get its share of infrastructure spending once that gets started, which is probably a couple of years out. This could easily double from here.

REAL ESTATE
Michael Sprung

President, Sprung Investment Management

Price: $5.520
Owned: Yes

2016-10-05

DON'T BUY
Stuart Olson Inc (SOX-T)

Not one he follows or would own right now. This provides construction services to Western Canada with schools, hospitals, sports arenas, high-rises, etc. It also has exposure to the energy business. Even if energy prices have something of a rebound, the suppliers are going to lag considerably. If you are looking for a play on energy and Western growth, he would look at the commodity, producers and suppliers further down the chain.

REAL ESTATE
Brendan Caldwell

President, Caldwell Securities

Price: $5.990
Owned: No

2016-08-24

BUY
Stuart Olson Inc (SOX-T)

It has been really beset, particularly lately, by the problems in Alberta. It was affected by the wildfires around Fort McMurray. In the last number of years, they have just seemed to go from one problem to another. However, he still believes this company can survive the current environment and prosper. They will be a beneficiary for some of the infrastructure spending that is going to take place.

REAL ESTATE
Michael Sprung

President, Sprung Investment Management

Price: $6.120
Owned: Yes

2016-08-16

COMMENT
Stuart Olson Inc (SOX-T)

A high dividend, so you might want to be careful here. Some of the contracts are a little choppy. He likes the company, but there are some issues. 7.5% dividend yield.

REAL ESTATE
Andrew Pink

Portfolio Manager, LDIC

Price: $6.350
Owned: Unknown

2016-07-15

TOP PICK
Stuart Olson Inc (SOX-T)

Engineering/construction company. This has really had problems over the last number of years, and is finally beginning to turn around. Have lagged the other engineering companies because of their large exposure to Alberta, but there is going to be a lot of infrastructure building in Alberta. Dividend yield of 7.19%.

REAL ESTATE
Michael Sprung

President, Sprung Investment Management

Price: $6.780
Owned: Yes

2016-06-24

DON'T BUY
Stuart Olson Inc (SOX-T)

An infrastructure company. This space has been getting a lot of attention lately because of budgets and stimulation of the economy, and this is probably his least favourite. Bought a pretty large electrical firm out West, and the timing was not great. There are better options in the sector.

REAL ESTATE
Ryan Modesto

Managing Partner, 5i Research

Price: $6.210
Owned: Unknown

2016-03-28

TOP PICK
Stuart Olson Inc (SOX-T)

Construction.  Institutional and commercial.  They ran into trouble with some fixed price contracts which are basically behind them.  They are yielding about 7%.  They will get some benefit from infrastructure spending. 

REAL ESTATE
Michael Sprung

President, Sprung Investment Management

Price: $6.950
Owned: Yes

2016-01-07

TOP PICK
Stuart Olson Inc (SOX-T)

This got off the rails for a few years. Had some contracts that were fixed priced contracts that went into cost overruns, and that really hit their margins. They’ve had to reorganize and restructure, but are now at a point where they will benefit from infrastructure spending, whether provincial or federal in Alberta, BC, Saskatchewan, etc. in both their industrial side and their building side. The company is very well-placed and the balance sheet is in a lot better shape than it used to be. Debt to EBITDA is at about 2X. Dividend yield of 9.02%.

REAL ESTATE
Michael Sprung

President, Sprung Investment Management

Price: $5.320
Owned: Yes

2015-09-01

PAST TOP PICK
Stuart Olson Inc (SOX-T)

(A Top Pick Aug 26/14. Down 39.51%.) A lot of their business is in energy and in Alberta, but have been diversifying. Just announced $200 million in new contracts. They are not only going to survive, but have made a lot of moves recently, and he would be looking to add to his position.

REAL ESTATE
Michael Sprung

President, Sprung Investment Management

Price: $5.820
Owned: Yes

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