Aecon Group Inc (ARE-T) Stock Predictions - Stockchase
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Aecon Group Inc (ARE-T)

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Aecon Group Inc

ARE-T

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Aecon Group Inc (ARE-T) SAVE Mar, 18, 2019, 3:38 pm

18.44 0.23 (1.26%)

About Aecon Group Inc (ARE-T)

Aecon Group Inc. is Canada’s largest publicly traded construction company, providing a range of services to private and public sector clients across its three core segments of Infrastructure, Energy, and Mining. More at Wikipedia

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Signal Opinion Expert
WEAK BUY
Aecon Group Inc(ARE-T) 

March 13, 2019

3-5-year horizon, given Ontario government planning $30-billion infrastructure spending A good company that will do well in that time horizon. Caveat: Capex projects like the one Ontario is announcing take a long time to get going. Instead, look at an infrastructure's backlog of projects--buy when that backlog is going up.
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3-5-year horizon, given Ontario government planning $30-billion infrastructure spending A good company that will do well in that time horizon. Caveat: Capex projects like the one Ontario is announcing take a long time to get going. Instead, look at an infrastructure's backlog of projects--buy when that backlog is going up.
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Douglas Kee

Chief Inve, Leon Frazer & Associ...

Price Price
$18.350
Owned Owned
No

WEAK BUY
Aecon Group Inc(ARE-T) 

March 7, 2019

The offer to take them out was blocked. It is rebounding after the selloff. The stability is there. The new CEO brings global experience. It should bode well for them expanding well outside of Canada. It has a strong balance sheet. This would be his pick in the space.
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The offer to take them out was blocked. It is rebounding after the selloff. The stability is there. The new CEO brings global experience. It should bode well for them expanding well outside of Canada. It has a strong balance sheet. This would be his pick in the space.
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Kash Pashootan

CEO & Chie, First Avenue Investm...

Price Price
$18.970
Owned Owned
Unknown

COMMENT
Aecon Group Inc(ARE-T) 

January 18, 2019

ARE-T, WSP-T or SNC-T? He owns SNC-T, which has had its issues alongside the Canadian-Saudi Arabia situation. Fundamentally the company performs well. He owns STN-T. He was expecting this space to see better investment following the Canadian government plans to add to infrastructure. He has grown cold to the space as a whole.
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ARE-T, WSP-T or SNC-T? He owns SNC-T, which has had its issues alongside the Canadian-Saudi Arabia situation. Fundamentally the company performs well. He owns STN-T. He was expecting this space to see better investment following the Canadian government plans to add to infrastructure. He has grown cold to the space as a whole.
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Norman Levine

Managing D, Portfolio Management...

Price Price
$18.500
Owned Owned
_N/A

BUY
Aecon Group Inc(ARE-T) 

January 14, 2019

We are off our highs. Our lows are higher and that is good. Seasonally it is a good time. This is the time of year they do well and technically they look good.
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We are off our highs. Our lows are higher and that is good. Seasonally it is a good time. This is the time of year they do well and technically they look good.
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Brooke Thackray

Research A, Horizons ETFs (Canad...

Price Price
$18.330
Owned Owned
Unknown

PAST TOP PICK
Aecon Group Inc(ARE-T) 

December 10, 2018

(A Top Pick Oct 25/17, Up 9%) It's been a rollercoaster, given the Chinese bid that Ottawa struck down earlier this year. He sold at $19. He'd look at re-buying it. In this sector, he'd look at this and Stantec.
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(A Top Pick Oct 25/17, Up 9%) It's been a rollercoaster, given the Chinese bid that Ottawa struck down earlier this year. He sold at $19. He'd look at re-buying it. In this sector, he'd look at this and Stantec.
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Michael Sprung

President, Sprung Investment Ma...

Price Price
$17.420
Owned Owned
No

TOP PICK
Aecon Group Inc(ARE-T) 

November 28, 2018

It had a rough ride lately, because Ottawa killed a Chinese deal earlier this year. It now scores in the top 2% of his valuation. It's picked up strong price momentum. They have a huge backlog of projects. Well-positioned. (Analysts’ price target is $22.15)
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It had a rough ride lately, because Ottawa killed a Chinese deal earlier this year. It now scores in the top 2% of his valuation. It's picked up strong price momentum. They have a huge backlog of projects. Well-positioned. (Analysts’ price target is $22.15)
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Jason Mann

CIO & Co-F, Edgehill Patners...

Price Price
$19.220
Owned Owned
Yes

BUY
Aecon Group Inc(ARE-T) 

November 21, 2018

Was his top pick 3 months ago. Their Q3 earnings were up YOY , beating consensus by 10%. Infrastructure margins were up with room to run. Their backlog is up from $4 billion last year to $7 billion. Trades at a cheap 14x. He sees growth with a $23 price target. He likes it.
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Was his top pick 3 months ago. Their Q3 earnings were up YOY , beating consensus by 10%. Infrastructure margins were up with room to run. Their backlog is up from $4 billion last year to $7 billion. Trades at a cheap 14x. He sees growth with a $23 price target. He likes it.
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Greg Newman

Director &, Scotia Wealth Manage...

Price Price
$18.690
Owned Owned
Unknown

COMMENT
Aecon Group Inc(ARE-T) 

October 29, 2018

They reported a good number lately, but failed to go private. It's too energy-centric for him. It's fully valued now after failing to go private.

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They reported a good number lately, but failed to go private. It's too energy-centric for him. It's fully valued now after failing to go private.

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Bruce Campbell

President, Campbell and Lee Inv...

Price Price
$18.640
Owned Owned
No

BUY
Aecon Group Inc(ARE-T) 

October 23, 2018

STANTEC vs. AECON - He's studying the infrastructure space closely. He has no criticism about Stantec, but he prefers Aecon for its balance sheet ($260 million in cash) and low debt. And its new CEO has global experience, which is a catalyst for Aecon and will help them go global. He hasn't bought ARE yet, but will.

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STANTEC vs. AECON - He's studying the infrastructure space closely. He has no criticism about Stantec, but he prefers Aecon for its balance sheet ($260 million in cash) and low debt. And its new CEO has global experience, which is a catalyst for Aecon and will help them go global. He hasn't bought ARE yet, but will.

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Kash Pashootan

CEO & Chie, First Avenue Investm...

Price Price
$16.770
Owned Owned
No

TOP PICK
Aecon Group Inc(ARE-T) 

October 11, 2018

There is great value in the company.  Earnings are expected to grow 33% in 2019 and 25% in 2020.  They announced an agreement to sell their contract mining business.  They should be in a net cash positive position afterwards.  It is a buying opportunity.  (Analysts’ target: $20.50).

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There is great value in the company.  Earnings are expected to grow 33% in 2019 and 25% in 2020.  They announced an agreement to sell their contract mining business.  They should be in a net cash positive position afterwards.  It is a buying opportunity.  (Analysts’ target: $20.50).

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Robert McWhirte

President, Selective Asset Mana...

Price Price
$16.170
Owned Owned
Yes

TOP PICK
Aecon Group Inc(ARE-T) 

September 28, 2018

Have acquired significant infrastructure projects, so now have a record backlog. Sees growth at 35%. Balance sheet in good shape. Trades at discount to peers. Really good growth rate, nice dividend. Upside over next 12-24 months. Yield is 3.1%. (Analysts’ price target is $20.05.)

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Have acquired significant infrastructure projects, so now have a record backlog. Sees growth at 35%. Balance sheet in good shape. Trades at discount to peers. Really good growth rate, nice dividend. Upside over next 12-24 months. Yield is 3.1%. (Analysts’ price target is $20.05.)

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Greg Newman

Director &, Scotia Wealth Manage...

Price Price
$16.230
Owned Owned
Yes

TOP PICK
Aecon Group Inc(ARE-T) 

September 7, 2018

He buys on weakness. They have a record high backlog, and if they price it right, they’ll make good money. The Feds have allocated a lot of money to infrastructure, and Aecon should benefit. Valuation is temporarily cheap. He’ll be looking to sell in the high $20s. Yield is 3%. (Analysts’ price target is $19.81.)

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He buys on weakness. They have a record high backlog, and if they price it right, they’ll make good money. The Feds have allocated a lot of money to infrastructure, and Aecon should benefit. Valuation is temporarily cheap. He’ll be looking to sell in the high $20s. Yield is 3%. (Analysts’ price target is $19.81.)

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Fabrice Taylor

Publisher, The President's Club...

Price Price
$16.770
Owned Owned
Yes

DON'T BUY
Aecon Group Inc(ARE-T) 

August 30, 2018

Model price is $14, so it is below where it is trading at.  It is at EBV plus 1, and we have not had a breakout.  Wait for a buy signal.  He thinks it will come back.  There are better opportunities elsewhere.

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Model price is $14, so it is below where it is trading at.  It is at EBV plus 1, and we have not had a breakout.  Wait for a buy signal.  He thinks it will come back.  There are better opportunities elsewhere.

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Brian Acker, CA

Chief Exec, Acker Finley Inc....

Price Price
$17.430
Owned Owned
Unknown

BUY
Aecon Group Inc(ARE-T) 

July 26, 2018

He thinks that they had done a lot. Their backlog is at a record and capable of growing from here. He sees growth at 35%. Trades at 14.9 times 2019. Cheap. Balance sheet is OK. It is a better company now than when the Chinese company wanted to acquire it and was blocked by Ottawa. 

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He thinks that they had done a lot. Their backlog is at a record and capable of growing from here. He sees growth at 35%. Trades at 14.9 times 2019. Cheap. Balance sheet is OK. It is a better company now than when the Chinese company wanted to acquire it and was blocked by Ottawa. 

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Greg Newman

Director &, Scotia Wealth Manage...

Price Price
$15.300
Owned Owned
Yes

DON'T BUY
Aecon Group Inc(ARE-T) 

July 23, 2018

After the failed takeover bid the stock dropped.  He never really liked the construction business.  He has IBG-T for exposure to this industry because it is more stable.  Some of the promised government infrastructure spending has not come.

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After the failed takeover bid the stock dropped.  He never really liked the construction business.  He has IBG-T for exposure to this industry because it is more stable.  Some of the promised government infrastructure spending has not come.

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Colin Stewart

CEO & Port, JC Clark Investments...

Price Price
$15.200
Owned Owned
No

BUY
Aecon Group Inc(ARE-T) 

July 18, 2018

Will Ottawa fulfill promises of infrastructure spending? These stocks should be traded (not held). Remember these stocks are international, with building activities outside Canada. This sector will go, along with a lift in the market that he predicts.

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Will Ottawa fulfill promises of infrastructure spending? These stocks should be traded (not held). Remember these stocks are international, with building activities outside Canada. This sector will go, along with a lift in the market that he predicts.

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Rick Stuchberry

Portfolio , Wellington-Altus Pri...

Price Price
$15.350
Owned Owned
Unknown

WATCH
Aecon Group Inc(ARE-T) 

July 10, 2018

They came back to the $15 after the sale was disapproved. There are the usual construction issues, such as the risks of overruns on fixed-price contracts on large projects. They have a stronger backlog. She doesn’t see a rush to buy the company. They are looking for a new CEO and not actively looking for a new buyer, so the share price will be driven by how well it performs in the future. (Analysts’ price target is $18.80)

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They came back to the $15 after the sale was disapproved. There are the usual construction issues, such as the risks of overruns on fixed-price contracts on large projects. They have a stronger backlog. She doesn’t see a rush to buy the company. They are looking for a new CEO and not actively looking for a new buyer, so the share price will be driven by how well it performs in the future. (Analysts’ price target is $18.80)

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Christine Poole

CEO & Mana, GlobeInvest Capital ...

Price Price
$15.380
Owned Owned
No

DON'T BUY
Aecon Group Inc(ARE-T) 

July 4, 2018

He owns two engineering companies – SNC Lavalin (SNC-T) and Stantec (STN-T).  He keeps waiting for the actual infrastructure spending incentives from the Federal government to ignite these holdings.  Aecon’s senior management does not impress him.  He would prefer to hold the other alternatives.  

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He owns two engineering companies – SNC Lavalin (SNC-T) and Stantec (STN-T).  He keeps waiting for the actual infrastructure spending incentives from the Federal government to ignite these holdings.  Aecon’s senior management does not impress him.  He would prefer to hold the other alternatives.  

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Norman Levine

Managing D, Portfolio Management...

Price Price
$15.520
Owned Owned
No

WEAK BUY
Aecon Group Inc(ARE-T) 

June 27, 2018

He is thankful this continues to be a Canadian company as there are fewer in the Canadian space left to invest in.  He is watching it again, now that it is down 22% this year.  He sees it as still being a little expensive at 19 times earnings.   He would take an initial 1/3 position at these levels.  Yield 3.25%.  

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He is thankful this continues to be a Canadian company as there are fewer in the Canadian space left to invest in.  He is watching it again, now that it is down 22% this year.  He sees it as still being a little expensive at 19 times earnings.   He would take an initial 1/3 position at these levels.  Yield 3.25%.  

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Kash Pashootan

CEO & Chie, First Avenue Investm...

Price Price
$15.430
Owned Owned
No

HOLD
Aecon Group Inc(ARE-T) 

June 25, 2018

It's been in a tight range for a very long time. It's now downward in a middle ground. Continue to hold it, but he'd like to see it rise above $18.

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It's been in a tight range for a very long time. It's now downward in a middle ground. Continue to hold it, but he'd like to see it rise above $18.

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Elliott Fishman

Director o, Trading Services Gro...

Price Price
$15.480
Owned Owned
Unknown

TOP PICK
Aecon Group Inc(ARE-T) 

June 22, 2018

They had a price collapse. There is a vacuum. The backlog is the biggest its ever been at 4.6 billion. Visibility is improving. Growth is kicking in. Trading at a reasonable 12.2 times 2019 earnings. Benefiting from the nuclear refurbishment contracts. (Analysts’ price target is $18.80)

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They had a price collapse. There is a vacuum. The backlog is the biggest its ever been at 4.6 billion. Visibility is improving. Growth is kicking in. Trading at a reasonable 12.2 times 2019 earnings. Benefiting from the nuclear refurbishment contracts. (Analysts’ price target is $18.80)

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Greg Newman

Director &, Scotia Wealth Manage...

Price Price
$15.710
Owned Owned
Yes

TOP PICK
Aecon Group Inc(ARE-T) 

June 13, 2018

He doesn’t normally like to buy companies when it is like catching a falling knife, but when it fell 25% it was too good to pass by.  Unlike other construction companies its multiples did not jump when PM Trudeau announced infrastructure spending, so the stock looks very cheap presently.  They have a record high order backlog.  Yield 3.3%. 

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He doesn’t normally like to buy companies when it is like catching a falling knife, but when it fell 25% it was too good to pass by.  Unlike other construction companies its multiples did not jump when PM Trudeau announced infrastructure spending, so the stock looks very cheap presently.  They have a record high order backlog.  Yield 3.3%. 

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Peter Imhof

Vice Presi, AGF Investments Inc...

Price Price
$15.380
Owned Owned
Yes

WAIT
Aecon Group Inc(ARE-T) 

June 4, 2018

The company is getting back down to where it is getting interesting again.  Let the chips fall after the failed takeover.  You need to wait for a while and make sure everything has shaken out.

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The company is getting back down to where it is getting interesting again.  Let the chips fall after the failed takeover.  You need to wait for a while and make sure everything has shaken out.

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Ross Healy

Chairman, Strategic Analysis C...

Price Price
$14.640
Owned Owned
Unknown

DON'T BUY
Aecon Group Inc(ARE-T) 

May 24, 2018

A Chinese company failed to acquire this company.  Now you have a lot of uncertainty left in this stock.  He would prefer others in this space regardless.  You will have a shift in the type of investor that will hold this.

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A Chinese company failed to acquire this company.  Now you have a lot of uncertainty left in this stock.  He would prefer others in this space regardless.  You will have a shift in the type of investor that will hold this.

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Ryan Modesto

Managing P, 5i Research...

Price Price
$14.670
Owned Owned
No

SELL
Aecon Group Inc(ARE-T) 

May 10, 2018

Is the fact that it is being bought by a Chinese firm holding the stock? Sell on mystery buy on history. It looks like it is waiting for something. It looks toppy here. He would take a win here.

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Is the fact that it is being bought by a Chinese firm holding the stock? Sell on mystery buy on history. It looks like it is waiting for something. It looks toppy here. He would take a win here.

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Elliott Fishman

Director o, Trading Services Gro...

Price Price
$17.900
Owned Owned
No

PAST TOP PICK
Aecon Group Inc(ARE-T) 

January 26, 2018

(A Top Pick Jan 18/17. Up 31%) This has a takeover offer on the table. At the time, it was compelling on a valuation basis relative to its peers. The infrastructure assets look very good, but had also thought he saw a turnaround coming in mining and energy.

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(A Top Pick Jan 18/17. Up 31%) This has a takeover offer on the table. At the time, it was compelling on a valuation basis relative to its peers. The infrastructure assets look very good, but had also thought he saw a turnaround coming in mining and energy.

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Greg Newman

Director &, Scotia Wealth Manage...

Price Price
$19.980
Owned Owned
Yes

PARTIAL SELL
Aecon Group Inc(ARE-T) 

November 29, 2017

A Chinese company is offering to acquire this at $20.37. There is still uncertainty. If you own, he would consider selling some of your holdings.

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A Chinese company is offering to acquire this at $20.37. There is still uncertainty. If you own, he would consider selling some of your holdings.

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Andy Nasr

VP & Inves, Sentry Investments...

Price Price
$19.590
Owned Owned
Unknown

PAST TOP PICK
Aecon Group Inc(ARE-T) 

November 17, 2017

(A Top Pick Sept 28/16. Up 13%.) About to be taken over by a Chinese buyer, but he tends to think the government will step in and block the sale. He likes the whole space. He would come back to this in a heartbeat if the deal fell through.

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(A Top Pick Sept 28/16. Up 13%.) About to be taken over by a Chinese buyer, but he tends to think the government will step in and block the sale. He likes the whole space. He would come back to this in a heartbeat if the deal fell through.

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Hap (Robert) Sn

Chief Port, Castlemoore Inc....

Price Price
$19.590
Owned Owned
No

PARTIAL SELL
Aecon Group Inc(ARE-T) 

November 2, 2017

It is trading at a bit of discount to the price being offered by the Chinese.  There is some doubt that maybe they will not be allowed to be sold to the Chinese.  He does not own it and has another pick in the group.  You have probably made money on it and could sell half to lock in profits in case it does not happen.  It is 80-90% and not 100%.

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It is trading at a bit of discount to the price being offered by the Chinese.  There is some doubt that maybe they will not be allowed to be sold to the Chinese.  He does not own it and has another pick in the group.  You have probably made money on it and could sell half to lock in profits in case it does not happen.  It is 80-90% and not 100%.

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Bruce Campbell

President, Campbell and Lee Inv...

Price Price
$19.350
Owned Owned
No

TOP PICK
Aecon Group Inc(ARE-T) 

October 25, 2017

They are very well positioned to take advantage of more public infrastructure spending. They were looking at selling the company a while ago, but if it were to be sold, it would be closer to $20 than where it’s trading today.

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They are very well positioned to take advantage of more public infrastructure spending. They were looking at selling the company a while ago, but if it were to be sold, it would be closer to $20 than where it’s trading today.

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Michael Sprung

President, Sprung Investment Ma...

Price Price
$16.520
Owned Owned
Yes

COMMENT
Aecon Group Inc(ARE-T) 

October 20, 2017

Chart shows a series of higher lows, but no higher highs. Like all construction stocks, this is very volatile. 2 words of advice. 1.) Don’t put too much of your portfolio into a stock like this. 2.) If there is good news and the stock picks up, remember to take your profits. Dividend yield of 3%.

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Chart shows a series of higher lows, but no higher highs. Like all construction stocks, this is very volatile. 2 words of advice. 1.) Don’t put too much of your portfolio into a stock like this. 2.) If there is good news and the stock picks up, remember to take your profits. Dividend yield of 3%.

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William Chin

Portfolio , Caldwell Investment ...

Price Price
$16.340
Owned Owned
Unknown

HOLD
Aecon Group Inc(ARE-T) 

October 16, 2017

The longer term trend is up.  It is coming off the bottom of its trading range.  As long as it stays in the general uptrend, it would stay with the story.  You have to put up with the volatility. 

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The longer term trend is up.  It is coming off the bottom of its trading range.  As long as it stays in the general uptrend, it would stay with the story.  You have to put up with the volatility. 

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Keith Richards

Portfolio , ValueTrend Wealth Ma...

Price Price
$16.360
Owned Owned
Unknown

DON'T BUY
Aecon Group Inc(ARE-T) 

October 13, 2017

A good company. Results are a little weaker than what he would like. They used to earn a 9% ROC, but is now down to 5%. It doesn’t look that cheap right now.

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A good company. Results are a little weaker than what he would like. They used to earn a 9% ROC, but is now down to 5%. It doesn’t look that cheap right now.

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Matt Kacur

President, FSA Financial Scienc...

Price Price
$16.780
Owned Owned
Unknown

PAST TOP PICK
Aecon Group Inc(ARE-T) 

September 28, 2017

(A Top Pick Sept 23/16. Up 1%.) Had thought at the time that 2017 was going to be an off year, but anticipates very good growth for infrastructure beyond this year. They just put themselves up for sale. Trading at around 6.4, and he thinks it should fetch a multiple of around 8.5 if it gets sold. Very good balance sheet.

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(A Top Pick Sept 23/16. Up 1%.) Had thought at the time that 2017 was going to be an off year, but anticipates very good growth for infrastructure beyond this year. They just put themselves up for sale. Trading at around 6.4, and he thinks it should fetch a multiple of around 8.5 if it gets sold. Very good balance sheet.

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Greg Newman

Director &, Scotia Wealth Manage...

Price Price
$17.680
Owned Owned
Yes

PAST TOP PICK
Aecon Group Inc(ARE-T) 

September 13, 2017

(A Top Pick Feb 17/16. Total return 7%.) Convertible 5.5% bond due Dec 1/18.

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(A Top Pick Feb 17/16. Total return 7%.) Convertible 5.5% bond due Dec 1/18.

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Paul Gardner, C

Partner an, Avenue Investment Ma...

Price Price
$17.780
Owned Owned
No

COMMENT
Aecon Group Inc(ARE-T) 

September 8, 2017

He doesn’t know the seasonality of this particular stock. However, the company has been in the news in the last little while, as they have put themselves up for sale. The technical impact of this is very positive. The stock had been in an upward trend for the past 8 months, and on that news, it broke into a new high. It has overhead resistance at around $19.30. Looks quite interesting at current prices.

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He doesn’t know the seasonality of this particular stock. However, the company has been in the news in the last little while, as they have put themselves up for sale. The technical impact of this is very positive. The stock had been in an upward trend for the past 8 months, and on that news, it broke into a new high. It has overhead resistance at around $19.30. Looks quite interesting at current prices.

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Don Vialoux

Research A, TimingTheMarket.CA &...

Price Price
$17.320
Owned Owned
Unknown

COMMENT
Aecon Group Inc(ARE-T) 

September 8, 2017

He is positive on the construction side. Prefers SNC Lavalin (SNC-T), who also has a broad range of services to offer. Anybody in that business is going to do well in the next little while.

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He is positive on the construction side. Prefers SNC Lavalin (SNC-T), who also has a broad range of services to offer. Anybody in that business is going to do well in the next little while.

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David Cockfield

Managing D, Northland Wealth Man...

Price Price
$17.320
Owned Owned
No

HOLD
Aecon Group Inc(ARE-T) 

August 29, 2017

Has just announced that it is exploring a potential sale of the company. If you own it, he would wait to see what happens. Construction is a lumpy business.

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Has just announced that it is exploring a potential sale of the company. If you own it, he would wait to see what happens. Construction is a lumpy business.

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Barry Schwartz

CIO & Port, Baskin Wealth Manage...

Price Price
$16.920
Owned Owned
No

HOLD
Aecon Group Inc(ARE-T) 

August 28, 2017

The breakup value of the company is around $21-$22.  He would hold on for sure right now because they are entertaining offers.  The stock is not up that much yet.  Watch it like a hawk and if you see it at $18-$19, then that is when you consider selling.  He holds SNC-T.  ARE-T is primarily Canada and is cyclical.  It has the most energy exposure.

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The breakup value of the company is around $21-$22.  He would hold on for sure right now because they are entertaining offers.  The stock is not up that much yet.  Watch it like a hawk and if you see it at $18-$19, then that is when you consider selling.  He holds SNC-T.  ARE-T is primarily Canada and is cyclical.  It has the most energy exposure.

contractors
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Bruce Campbell

President, Campbell and Lee Inv...

Price Price
$16.840
Owned Owned
No

PAST TOP PICK
Aecon Group Inc(ARE-T) 

August 3, 2017

Convertible 5.5% bond due Dec 1/18. (Top Pick Feb 17/16) He got out several quarters ago.  It had run up and was just yielding 4%.  He could reload if it ever came off.

contractors
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Convertible 5.5% bond due Dec 1/18. (Top Pick Feb 17/16) He got out several quarters ago.  It had run up and was just yielding 4%.  He could reload if it ever came off.

contractors
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Paul Gardner, C

Partner an, Avenue Investment Ma...

Price Price
$14.770
Owned Owned
No

COMMENT
Aecon Group Inc(ARE-T) 

June 6, 2017

There are a handful of engineering/construction companies in Canada. This had a big run up with all the big infrastructure stocks. A pretty good company. Very cheap valuation. The quarters kind of bounce around depending on whether they have a contract hitting the quarter or not. A solid name, but would prefer WSP Global (WSP-T), more of an international company that has made some great acquisitions. Even Stantec (STN-T) looks a little better on their history and long-term record of profitability.

contractors
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There are a handful of engineering/construction companies in Canada. This had a big run up with all the big infrastructure stocks. A pretty good company. Very cheap valuation. The quarters kind of bounce around depending on whether they have a contract hitting the quarter or not. A solid name, but would prefer WSP Global (WSP-T), more of an international company that has made some great acquisitions. Even Stantec (STN-T) looks a little better on their history and long-term record of profitability.

contractors
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Peter Hodson

CEO & Head, 5i Research Inc....

Price Price
$15.320
Owned Owned
Unknown

COMMENT

He tends to favour engineering names such as SNC-Lavalin (SNC-T). Construction names are a lower margin business, and end up being hyper competitive, and results never seem to trickle down to the common shareholder. If looking for exposure to construction and stimulus spending, focus more on the engineering side.

contractors
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He tends to favour engineering names such as SNC-Lavalin (SNC-T). Construction names are a lower margin business, and end up being hyper competitive, and results never seem to trickle down to the common shareholder. If looking for exposure to construction and stimulus spending, focus more on the engineering side.

contractors
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Daniel Lloyd

Portfolio , Forge First Asset Ma...

Price Price
$15.980
Owned Owned
No

BUY
Aecon Group Inc(ARE-T) 

April 21, 2017

Probably not a bad thing to be buying now. Trading in line with its 3-year average, but cheaper than its peers. 2017 is probably going to be an off year for them in terms of revenues. Beyond that, he sees really nice growth. They have a really good infrastructure backlog which will really help them. Just increased their dividend by 8.2%. Very strong balance sheet. He sees good growth into 2018.

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Probably not a bad thing to be buying now. Trading in line with its 3-year average, but cheaper than its peers. 2017 is probably going to be an off year for them in terms of revenues. Beyond that, he sees really nice growth. They have a really good infrastructure backlog which will really help them. Just increased their dividend by 8.2%. Very strong balance sheet. He sees good growth into 2018.

contractors
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Greg Newman

Director &, Scotia Wealth Manage...

Price Price
$16.220
Owned Owned
Unknown

PAST TOP PICK
Aecon Group Inc(ARE-T) 

April 10, 2017

(A Top Pick March 16/16. Up 10%.) He still likes this. Sold his holdings at around $18.75 as he thought it had got ahead of the macro infrastructure. It then had a big dip and he started acquiring it again in late 2016.

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(A Top Pick March 16/16. Up 10%.) He still likes this. Sold his holdings at around $18.75 as he thought it had got ahead of the macro infrastructure. It then had a big dip and he started acquiring it again in late 2016.

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Hap (Robert) Sn

Chief Port, Castlemoore Inc....

Price Price
$17.180
Owned Owned
Yes

COMMENT
Aecon Group Inc(ARE-T) 

April 4, 2017

In Canadian budgets, there is a real emphasis on infrastructure spending. There aren’t many infrastructure players in Canada that are public, but this is one of the oldest. They are spread across the country and are one of the leading providers, so they will be a beneficiary of increased infrastructure spending. As a result, the stock is bounced quite nicely off its bottom, and is probably trading at a reasonable range. Keep in mind that margins are quite thin. One of his favourite names in this space.

contractors
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In Canadian budgets, there is a real emphasis on infrastructure spending. There aren’t many infrastructure players in Canada that are public, but this is one of the oldest. They are spread across the country and are one of the leading providers, so they will be a beneficiary of increased infrastructure spending. As a result, the stock is bounced quite nicely off its bottom, and is probably trading at a reasonable range. Keep in mind that margins are quite thin. One of his favourite names in this space.

contractors
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Gerard Ferguson

CEO & Port, Jemekk Capital Manag...

Price Price
$17.130
Owned Owned
Unknown

PAST TOP PICK
Aecon Group Inc(ARE-T) 

March 28, 2017

Convertible 5.5% bond due Dec 1/18. (Top Pick Feb 17/16, Up 6%) He sold about two quarters ago.

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Convertible 5.5% bond due Dec 1/18. (Top Pick Feb 17/16, Up 6%) He sold about two quarters ago.

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Paul Gardner, C

Partner an, Avenue Investment Ma...

Price Price
$17.360
Owned Owned
No

WEAK BUY
Aecon Group Inc(ARE-T) 

March 27, 2017

Last quarter was pretty decent with the dividend being bumped 10%.  It comes and goes with some of the contracts they have won.  The stock is cheap.  He prefers others in the sector.

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Last quarter was pretty decent with the dividend being bumped 10%.  It comes and goes with some of the contracts they have won.  The stock is cheap.  He prefers others in the sector.

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Peter Hodson

CEO & Head, 5i Research Inc....

Price Price
$17.090
Owned Owned
Unknown

BUY
Aecon Group Inc(ARE-T) 

February 16, 2017

Alberta is bouncing back a little.  It was a drag on them over the last couple of years.  Trudeau and Trump are promising infrastructure spending and that will benefit them.  (Analysts’ target: $18).

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Alberta is bouncing back a little.  It was a drag on them over the last couple of years.  Trudeau and Trump are promising infrastructure spending and that will benefit them.  (Analysts’ target: $18).

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Fabrice Taylor

Publisher, The President's Club...

Price Price
$16.780
Owned Owned
Unknown

HOLD
Aecon Group Inc(ARE-T) 

February 13, 2017

He likes this company. Not only are they strong in infrastructure, but are also strong in energy spending, in particular in their Alberta acquisition they did a couple of years ago. They’ve been improving their operating margins. Volatility was always a big problem, where they got the big giant contracts and ended up losing money because of cost overruns. They’ve got that under better control and are stabilizing the earnings growth.

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He likes this company. Not only are they strong in infrastructure, but are also strong in energy spending, in particular in their Alberta acquisition they did a couple of years ago. They’ve been improving their operating margins. Volatility was always a big problem, where they got the big giant contracts and ended up losing money because of cost overruns. They’ve got that under better control and are stabilizing the earnings growth.

contractors
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John Zechner

Chairman, J. Zechner & Assoc...

Price Price
$16.680
Owned Owned
Unknown

PAST TOP PICK
Aecon Group Inc(ARE-T) 

January 24, 2017

(A Top Pick Jan 27/16. Up 18.6%.) It did well after he bought it, but then struggled in the last couple of months. Had a disappointing 3rd quarter earnings result in November, and took a big hit. That was followed a few days later by the resignation of their CEO. Part of the problem in their earnings was just the slowness in the infrastructure spending following Trudeau’s campaign. This is looking for a great year in 2018, and a big jump in earnings. He would be a buyer at these levels.

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(A Top Pick Jan 27/16. Up 18.6%.) It did well after he bought it, but then struggled in the last couple of months. Had a disappointing 3rd quarter earnings result in November, and took a big hit. That was followed a few days later by the resignation of their CEO. Part of the problem in their earnings was just the slowness in the infrastructure spending following Trudeau’s campaign. This is looking for a great year in 2018, and a big jump in earnings. He would be a buyer at these levels.

contractors
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Don Lato

President, Padlock Investment M...

Price Price
$16.160
Owned Owned
Yes

HOLD
Aecon Group Inc(ARE-T) 

January 20, 2017

Seasonal strength appears to be from January through to May of each year, when things are being constructed. We are now just at the beginning of a period of seasonal strength. It’s currently in a trading range, so you want to wait until it breaks above that, but then you have a pretty good chance of seeing the stock test the previous high.

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Seasonal strength appears to be from January through to May of each year, when things are being constructed. We are now just at the beginning of a period of seasonal strength. It’s currently in a trading range, so you want to wait until it breaks above that, but then you have a pretty good chance of seeing the stock test the previous high.

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Don Vialoux

Research A, TimingTheMarket.CA &...

Price Price
$15.800
Owned Owned
Unknown

TOP PICK
Aecon Group Inc(ARE-T) 

January 18, 2017

Stumbled a little, giving you an opportunity. Management believes that municipal and provincial spend are really going to kick in later in 2017. Any weakness in oil and gas is outweighed from an increase in oil and gas distribution and from their nuclear refurbishment. Their mining segment is really poised for recovery. He is modelling 24% EPS growth from 2016 to 2018 with a 57% payout ratio. Trading below its five-year average. Dividend yield of 2.94%. (Analysts’ price target is $18.12.)

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Stumbled a little, giving you an opportunity. Management believes that municipal and provincial spend are really going to kick in later in 2017. Any weakness in oil and gas is outweighed from an increase in oil and gas distribution and from their nuclear refurbishment. Their mining segment is really poised for recovery. He is modelling 24% EPS growth from 2016 to 2018 with a 57% payout ratio. Trading below its five-year average. Dividend yield of 2.94%. (Analysts’ price target is $18.12.)

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Greg Newman

Director &, Scotia Wealth Manage...

Price Price
$15.650
Owned Owned
Yes

BUY on WEAKNESS
Aecon Group Inc(ARE-T) 

January 12, 2017

When they reported Q3 results there were several disappointments, mainly due to operations in Western Canada.  When we finally get some real infrastructure spending, that should really benefit them.  He would buy under $14 and sell above $17.

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When they reported Q3 results there were several disappointments, mainly due to operations in Western Canada.  When we finally get some real infrastructure spending, that should really benefit them.  He would buy under $14 and sell above $17.

contractors
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Mohsin Bashir

VP Investm, Stone Asset Manageme...

Price Price
$14.950
Owned Owned
Unknown

COMMENT
Aecon Group Inc(ARE-T) 

January 5, 2017

A good company. The challenge is that a lot of their construction business is in Western Canada, and they have been hurt because of the oil industry slowing down. If you believe the oil industry is now improving, that should help this company to some extent.

contractors
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A good company. The challenge is that a lot of their construction business is in Western Canada, and they have been hurt because of the oil industry slowing down. If you believe the oil industry is now improving, that should help this company to some extent.

contractors
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Douglas Kee

Chief Inve, Leon Frazer & Associ...

Price Price
$14.960
Owned Owned
Unknown

BUY
Aecon Group Inc(ARE-T) 

December 21, 2016

Within the engineering/construction companies, this is probably one of the better valued ones. They are not trading at all-time highs, and had a significant downdraft a few months ago, of which they have recovered about half. They are lagging the group, and part of the reason for that is that they had a bit more of a Western exposure. This company has significant operations in Ontario. Very well-run.

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Within the engineering/construction companies, this is probably one of the better valued ones. They are not trading at all-time highs, and had a significant downdraft a few months ago, of which they have recovered about half. They are lagging the group, and part of the reason for that is that they had a bit more of a Western exposure. This company has significant operations in Ontario. Very well-run.

contractors
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Michael Sprung

President, Sprung Investment Ma...

Price Price
$14.920
Owned Owned
Unknown

COMMENT
Aecon Group Inc(ARE-T) 

November 30, 2016

This is an infrastructure play, and the Trudeau government has made it very plain that he is going to use fiscal policy to spend on infrastructure to keep the Canadian economy growing. This company participates in the pipelines. All of this is positive.

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This is an infrastructure play, and the Trudeau government has made it very plain that he is going to use fiscal policy to spend on infrastructure to keep the Canadian economy growing. This company participates in the pipelines. All of this is positive.

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Lyle Stein

Sr. Portfo, Vestcap Investment M...

Price Price
$15.630
Owned Owned
No

DON'T BUY
Aecon Group Inc(ARE-T) 

November 15, 2016

Market Call Minute. She wouldn’t buy this here. They’ve had some difficulties, and there are other companies in the space that are more attractive.

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Market Call Minute. She wouldn’t buy this here. They’ve had some difficulties, and there are other companies in the space that are more attractive.

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Christine Poole

CEO & Mana, GlobeInvest Capital ...

Price Price
$14.570
Owned Owned
Unknown

DON'T BUY
Aecon Group Inc(ARE-T) 

November 14, 2016

This is a fundamental sell off.  He traded it some time ago, but has been out of it.  You can’t buy this stock right now.  You need three weeks of the current low not being taken out before saying it has stopped dropping.

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This is a fundamental sell off.  He traded it some time ago, but has been out of it.  You can’t buy this stock right now.  You need three weeks of the current low not being taken out before saying it has stopped dropping.

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Keith Richards

Portfolio , ValueTrend Wealth Ma...

Price Price
$13.350
Owned Owned
No

COMMENT
Aecon Group Inc(ARE-T) 

November 8, 2016

In general, for engineering companies, people have bought them on the expectation that there is all the infrastructure spending to happen. There has been an awful lot of talk, but not a lot of follow-through yet. If you are a short-term investor, you should not be near the stocks, but if a long-term investor, this is creating an opportunity. (See Top Picks.)

contractors
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In general, for engineering companies, people have bought them on the expectation that there is all the infrastructure spending to happen. There has been an awful lot of talk, but not a lot of follow-through yet. If you are a short-term investor, you should not be near the stocks, but if a long-term investor, this is creating an opportunity. (See Top Picks.)

contractors
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Norman Levine

Managing D, Portfolio Management...

Price Price
$13.500
Owned Owned
No

COMMENT
Aecon Group Inc(ARE-T) 

November 7, 2016

It is close to a 52 week low and you have to think there is some support there.  Nibble close to that level if you like the company.  He does not follow it.

contractors
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It is close to a 52 week low and you have to think there is some support there.  Nibble close to that level if you like the company.  He does not follow it.

contractors
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Larry Berman CF

Chief Inve, ETF Capital Manageme...

Price Price
$13.600
Owned Owned
Unknown

PAST TOP PICK
Aecon Group Inc(ARE-T) 

November 4, 2016

(A Top Pick Oct 14/15. Down 3.33%.) Just reported and people hated what they saw. They missed on a number of fronts, but a lot of those were delays. They still have a very robust backlog. He thinks it is an opportunity here.

contractors
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(A Top Pick Oct 14/15. Down 3.33%.) Just reported and people hated what they saw. They missed on a number of fronts, but a lot of those were delays. They still have a very robust backlog. He thinks it is an opportunity here.

contractors
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Michael Sprung

President, Sprung Investment Ma...

Price Price
$13.250
Owned Owned
Yes

WAIT
Aecon Group Inc(ARE-T) 

November 3, 2016

He never buys more of a stock, never averages down.  He did not have holdings going into this earnings miss.  It was middle of the pack on price momentum and is now near the bottom of the pack.  He would wait for this to settle out.  It could go a lot lower.  It has a low ROE of 3.7%.  There is no debt problem and that is the saving grace.

contractors
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He never buys more of a stock, never averages down.  He did not have holdings going into this earnings miss.  It was middle of the pack on price momentum and is now near the bottom of the pack.  He would wait for this to settle out.  It could go a lot lower.  It has a low ROE of 3.7%.  There is no debt problem and that is the saving grace.

contractors
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Jason Mann

CIO & Co-F, Edgehill Patners...

Price Price
$13.680
Owned Owned
No

COMMENT
Aecon Group Inc(ARE-T) 

November 3, 2016

Held this many, many years ago. The thesis is that these companies are going to benefit by the massive infrastructure that the Liberal government is going to institute. Where’s the money? Thinks the stocks have run up too fast. Parts of this country are in a recession.

contractors
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Held this many, many years ago. The thesis is that these companies are going to benefit by the massive infrastructure that the Liberal government is going to institute. Where’s the money? Thinks the stocks have run up too fast. Parts of this country are in a recession.

contractors
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Barry Schwartz

CIO & Port, Baskin Wealth Manage...

Price Price
$13.680
Owned Owned
No

COMMENT
Aecon Group Inc(ARE-T) 

November 2, 2016

This had a horrible, horrible performance in terms of numbers. Very light on revenue and very light on earnings. It has brought the valuation down to a more reasonable level of about 12.5X forward earnings. The backlog is still $4.6-$4.7 billion. In the construction/engineering space, you get these large contracts where timing sort of screws up results. It is pretty common to have these companies swing around in terms of numbers. You have to be a little brave to step in.

contractors
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This had a horrible, horrible performance in terms of numbers. Very light on revenue and very light on earnings. It has brought the valuation down to a more reasonable level of about 12.5X forward earnings. The backlog is still $4.6-$4.7 billion. In the construction/engineering space, you get these large contracts where timing sort of screws up results. It is pretty common to have these companies swing around in terms of numbers. You have to be a little brave to step in.

contractors
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Peter Hodson

CEO & Head, 5i Research Inc....

Price Price
$14.380
Owned Owned
No

WAIT
Aecon Group Inc(ARE-T) 

November 2, 2016

She has had a checkered past with this company. They frequently have a couple of good quarters, and then they have a bad quarter. This would not be her favourite name. Wait until you start seeing good numbers. You are not going to miss anything, as infrastructure projects are really backloaded.

contractors
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She has had a checkered past with this company. They frequently have a couple of good quarters, and then they have a bad quarter. This would not be her favourite name. Wait until you start seeing good numbers. You are not going to miss anything, as infrastructure projects are really backloaded.

contractors
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Veronika Hirsch

Chief Inve, Arrow Capital...

Price Price
$14.380
Owned Owned
Unknown

TOP PICK
Aecon Group Inc(ARE-T) 

November 1, 2016

This is a continuation of the federal infrastructure spend being double for the next 5 years, compared to what it has been in the last 5 years. Lots of money going into the space. It has a record backlog of about $3.5 billion, which is going to be over $4 billion of work that is lined up. They continue to win contracts as they go. Dividend yield of 2.67%.

contractors
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This is a continuation of the federal infrastructure spend being double for the next 5 years, compared to what it has been in the last 5 years. Lots of money going into the space. It has a record backlog of about $3.5 billion, which is going to be over $4 billion of work that is lined up. They continue to win contracts as they go. Dividend yield of 2.67%.

contractors
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Kash Pashootan

CEO & Chie, First Avenue Investm...

Price Price
$17.110
Owned Owned
Yes

WATCH
Aecon Group Inc(ARE-T) 

October 27, 2016

They will benefit from fiscal stimulus in Canada and the US.  Seasonally we are in the time period (Oct to May) so we are looking for a good entry. If it breaks above resistance it would be a good sign   If it reaches $16 it should provide some support.  If it then broke a high he would step in.  Let it consolidate.

contractors
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They will benefit from fiscal stimulus in Canada and the US.  Seasonally we are in the time period (Oct to May) so we are looking for a good entry. If it breaks above resistance it would be a good sign   If it reaches $16 it should provide some support.  If it then broke a high he would step in.  Let it consolidate.

contractors
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0 comments
Brooke Thackray

Research A, Horizons ETFs (Canad...

Price Price
$17.110
Owned Owned
Unknown

WEAK BUY
Aecon Group Inc(ARE-T) 

October 24, 2016

If you are looking for a company in the design and engineering space, this one can benefit.  They have not experienced the benefit in the last 3 to 5 years.  You could look at utilities in the shorter term.  It is one of the leading companies out there and there is nothing questionable about the balance sheet.  It is not the top idea in the portfolio, however. 

contractors
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If you are looking for a company in the design and engineering space, this one can benefit.  They have not experienced the benefit in the last 3 to 5 years.  You could look at utilities in the shorter term.  It is one of the leading companies out there and there is nothing questionable about the balance sheet.  It is not the top idea in the portfolio, however. 

contractors
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0 comments
Michael Underhi

Portfolio , Capital Innovations...

Price Price
$17.980
Owned Owned
Unknown

SELL
Aecon Group Inc(ARE-T) 

September 29, 2016

They are probably one of the only construction companies that have done well.  He finished selling it about 4 months ago because after they do well for a while they eventually misprice a contract.  So he exited.  The management team did a very good job. 

contractors
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They are probably one of the only construction companies that have done well.  He finished selling it about 4 months ago because after they do well for a while they eventually misprice a contract.  So he exited.  The management team did a very good job. 

contractors
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0 comments
Peter Imhof

Vice Presi, AGF Investments Inc...

Price Price
$17.830
Owned Owned
No

PAST TOP PICK
Aecon Group Inc(ARE-T) 

September 28, 2016

(A Top Pick Aug 21/15. Up 55.76%.) He still likes this.

contractors
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(A Top Pick Aug 21/15. Up 55.76%.) He still likes this.

contractors
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Hap (Robert) Sn

Chief Port, Castlemoore Inc....

Price Price
$18.000
Owned Owned
Yes

TOP PICK
Aecon Group Inc(ARE-T) 

September 28, 2016

Expects this to go much, much higher although there is a bit of volatility to deal with in the meantime. Has a $25 target from here. If it gets above $19, a way we go. Dividend yield of 2.56%.

contractors
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Expects this to go much, much higher although there is a bit of volatility to deal with in the meantime. Has a $25 target from here. If it gets above $19, a way we go. Dividend yield of 2.56%.

contractors
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0 comments
Hap (Robert) Sn

Chief Port, Castlemoore Inc....

Price Price
$18.000
Owned Owned
Yes

TOP PICK
Aecon Group Inc(ARE-T) 

September 23, 2016

A beneficiary of very rich infrastructure spending at all government levels. Very strong backlog in their energy segment, where a lot of people are staying away because it is a big component of their business. They have nuclear opportunities such as the Darlington win last year. There are a lot of additional opportunities from Candu sites. Has a decent dividend with a very low payout ratio. He models 22% cash flow per share growth each and every year for the next couple of years. This is cheap, relative to its 5-year average. Dividend yield of 2.56%.

contractors
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A beneficiary of very rich infrastructure spending at all government levels. Very strong backlog in their energy segment, where a lot of people are staying away because it is a big component of their business. They have nuclear opportunities such as the Darlington win last year. There are a lot of additional opportunities from Candu sites. Has a decent dividend with a very low payout ratio. He models 22% cash flow per share growth each and every year for the next couple of years. This is cheap, relative to its 5-year average. Dividend yield of 2.56%.

contractors
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0 comments
Greg Newman

Director &, Scotia Wealth Manage...

Price Price
$17.980
Owned Owned
Yes

BUY on WEAKNESS
Aecon Group Inc(ARE-T) 

September 14, 2016

A construction/engineering group. They do very good work and have been around for a very long time. Very well managed. Their fortune is tied to how busy things are in the mining and energy space on one side, and the construction/engineering space. If the Canadian government is really going to accelerate the infrastructure program, this company will be benefiting quite a bit.

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A construction/engineering group. They do very good work and have been around for a very long time. Very well managed. Their fortune is tied to how busy things are in the mining and energy space on one side, and the construction/engineering space. If the Canadian government is really going to accelerate the infrastructure program, this company will be benefiting quite a bit.

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Jim Huang

President, T.I.P. Wealth Manage...

Price Price
$17.630
Owned Owned
Unknown

BUY
Aecon Group Inc(ARE-T) 

August 23, 2016

(Market Call Minute.) A great story. Infrastructure spending is improving. They’ve had some blowout quarters, and he thinks the best is still ahead of them if energy starts to rebound a little bit.

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(Market Call Minute.) A great story. Infrastructure spending is improving. They’ve had some blowout quarters, and he thinks the best is still ahead of them if energy starts to rebound a little bit.

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James Telfser

Partner & , Aventine Management ...

Price Price
$18.870
Owned Owned
Unknown

HOLD
Aecon Group Inc(ARE-T) 

August 16, 2016

The stock has done well. With the whole infrastructure spending the government is proposing, it will be beneficial for all E & C companies. Some of this company’s end markets have been depressed, but this company has weathered through that.

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The stock has done well. With the whole infrastructure spending the government is proposing, it will be beneficial for all E & C companies. Some of this company’s end markets have been depressed, but this company has weathered through that.

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Christine Poole

CEO & Mana, GlobeInvest Capital ...

Price Price
$18.860
Owned Owned
Unknown

BUY
Aecon Group Inc(ARE-T) 

July 28, 2016

(Market Call Minute.) This has gone up very high, but still cheap relative to its five-year average. Thinks there is a lot more in the tank.

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(Market Call Minute.) This has gone up very high, but still cheap relative to its five-year average. Thinks there is a lot more in the tank.

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Greg Newman

Director &, Scotia Wealth Manage...

Price Price
$17.630
Owned Owned
Unknown

COMMENT
Aecon Group Inc(ARE-T) 

July 27, 2016

A very consistent company over time, and construction is relatively consistent. This is all about their future book. They have debt outstanding. Sometimes the market gets really worried that they have debt, but he thinks it is a very solvent company. It seems hard for the company to grow dramatically, so in really bad times, he is able to buy the bonds with about an 8% yield. Any time the stock is $9-$10, it is interesting, but on a risk/reward basis, where he can buy the bond at 8% it is an incredible way to invest. He just sold his bonds which he felt were fully valued.

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A very consistent company over time, and construction is relatively consistent. This is all about their future book. They have debt outstanding. Sometimes the market gets really worried that they have debt, but he thinks it is a very solvent company. It seems hard for the company to grow dramatically, so in really bad times, he is able to buy the bonds with about an 8% yield. Any time the stock is $9-$10, it is interesting, but on a risk/reward basis, where he can buy the bond at 8% it is an incredible way to invest. He just sold his bonds which he felt were fully valued.

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Bill Harris, CF

Portfolio , Avenue Investment Ma...

Price Price
$17.180
Owned Owned
No

HOLD
Aecon Group Inc(ARE-T) 

July 11, 2016

They do infrastructure building and lots of that is happening in Ontario.  It is in an upward trend, broke to a new high and is outperforming the Toronto market.  Stick with it.

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They do infrastructure building and lots of that is happening in Ontario.  It is in an upward trend, broke to a new high and is outperforming the Toronto market.  Stick with it.

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Don Vialoux

Research A, TimingTheMarket.CA &...

Price Price
$18.060
Owned Owned
Unknown

COMMENT
Aecon Group Inc(ARE-T) 

July 11, 2016

Element Financial (EFN-T) or Aecon (ARE-T)? Two different things. One is a financial player and this one is involved in industrials, being a construction company. The company has started to turn itself around. If the Canadian government comes through with the $30 billion+ of infrastructure spending, this company should be able to get its fair share.

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Element Financial (EFN-T) or Aecon (ARE-T)? Two different things. One is a financial player and this one is involved in industrials, being a construction company. The company has started to turn itself around. If the Canadian government comes through with the $30 billion+ of infrastructure spending, this company should be able to get its fair share.

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John Kim

Portfolio , Aston Hill Financial...

Price Price
$18.060
Owned Owned
No

BUY
Aecon Group Inc(ARE-T) 

July 8, 2016

If you like the development area and you want to be in the Canadian side with a government that is much more interested in fiscal stimulation, subways to be built, etc. this is not a bad time. Thinks they are going to do extremely well.

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If you like the development area and you want to be in the Canadian side with a government that is much more interested in fiscal stimulation, subways to be built, etc. this is not a bad time. Thinks they are going to do extremely well.

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David Cockfield

Managing D, Northland Wealth Man...

Price Price
$17.990
Owned Owned
Unknown

BUY on WEAKNESS
Aecon Group Inc(ARE-T) 

June 23, 2016

If the world’s governments are going to do anything in the next 5 years, it is going to be infrastructure. He likes this play. His model price is $16, but he would love to get it back at $13.60, and he would be a buyer.

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If the world’s governments are going to do anything in the next 5 years, it is going to be infrastructure. He likes this play. His model price is $16, but he would love to get it back at $13.60, and he would be a buyer.

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Brian Acker, CA

Chief Exec, Acker Finley Inc....

Price Price
$17.580
Owned Owned
Yes

BUY on WEAKNESS
Aecon Group Inc(ARE-T) 

June 21, 2016

Sell Crombie (CRR.UN-T) and buy Aecon (ARE-T)? REITs have had a long time to be able to move higher and higher in terms of valuations. Probably not a bad time to be making a switch, but be careful of moving to Aecon because it has also moved considerably. You probably want to Buy this under $15, where the PE is about 14.3X on a forward earnings basis. This is going to be a direct beneficiary of infrastructure spending in Canada.

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Sell Crombie (CRR.UN-T) and buy Aecon (ARE-T)? REITs have had a long time to be able to move higher and higher in terms of valuations. Probably not a bad time to be making a switch, but be careful of moving to Aecon because it has also moved considerably. You probably want to Buy this under $15, where the PE is about 14.3X on a forward earnings basis. This is going to be a direct beneficiary of infrastructure spending in Canada.

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Mohsin Bashir

VP Investm, Stone Asset Manageme...

Price Price
$17.550
Owned Owned
Unknown

HOLD
Aecon Group Inc(ARE-T) 

June 20, 2016

(Market Call Minute.) They are really levered heavily to spending in the Alberta region, which might get a bit of a lift off the fires. They need to get margins higher, and that has been a bit of a struggle.

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(Market Call Minute.) They are really levered heavily to spending in the Alberta region, which might get a bit of a lift off the fires. They need to get margins higher, and that has been a bit of a struggle.

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John Zechner

Chairman, J. Zechner & Assoc...

Price Price
$17.710
Owned Owned
Unknown

BUY
Aecon Group Inc(ARE-T) 

June 20, 2016

One of those great Canadian names that is benefiting from that trend of becoming a $1 billion company. Have a massive backlog, which is up over 50% year-over-year. Valuation is reasonable at 6-6.5X EBITDA.

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One of those great Canadian names that is benefiting from that trend of becoming a $1 billion company. Have a massive backlog, which is up over 50% year-over-year. Valuation is reasonable at 6-6.5X EBITDA.

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James Telfser

Partner & , Aventine Management ...

Price Price
$17.710
Owned Owned
Yes

BUY
Aecon Group Inc(ARE-T) 

June 17, 2016

(Market Call Minute.) Great story. There is more in the tank.

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(Market Call Minute.) Great story. There is more in the tank.

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Greg Newman

Director &, Scotia Wealth Manage...

Price Price
$17.170
Owned Owned
Unknown

DON'T BUY
Aecon Group Inc(ARE-T) 

June 6, 2016

This has had a great run. He sold his holdings too early. They have good positioning in the Canadian construction market. However, it is currently fully valued. Well-run company for the long-term, but wouldn’t necessarily buy it today.

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This has had a great run. He sold his holdings too early. They have good positioning in the Canadian construction market. However, it is currently fully valued. Well-run company for the long-term, but wouldn’t necessarily buy it today.

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Jim Huang

President, T.I.P. Wealth Manage...

Price Price
$17.290
Owned Owned
No

PAST TOP PICK
Aecon Group Inc(ARE-T) 

May 26, 2016

(A Top Pick June 10/15. Up 32.85%.) He likes this and the whole space a lot. Has just added to his holdings recently. This is going to be a beneficiary of future infrastructure. (See Top Picks.)

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(A Top Pick June 10/15. Up 32.85%.) He likes this and the whole space a lot. Has just added to his holdings recently. This is going to be a beneficiary of future infrastructure. (See Top Picks.)

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Hap (Robert) Sn

Chief Port, Castlemoore Inc....

Price Price
$17.420
Owned Owned
Yes

BUY on WEAKNESS
Aecon Group Inc(ARE-T) 

May 24, 2016

(Market Call Minute.) This is more of a trading stock. They have a backlog that has picked up quite nicely due to infrastructure spending that is happening. If you can get this cheaper, that would be great.

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(Market Call Minute.) This is more of a trading stock. They have a backlog that has picked up quite nicely due to infrastructure spending that is happening. If you can get this cheaper, that would be great.

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Andrey Omelchak

President , LionGuard Capital Ma...

Price Price
$17.350
Owned Owned
Unknown

COMMENT
Aecon Group Inc(ARE-T) 

May 10, 2016

Aecon (ARE-T) or Stantec (STN-T)? A great Canadian stable company. He uses it as a dampening mechanism in his portfolios. There is a lot of infrastructure to be done. A great, consistent business. Every time he has made an assessment of these 2, he has gone with this one. The stock is now at the higher level of his valuation, so he owns the bonds.

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Aecon (ARE-T) or Stantec (STN-T)? A great Canadian stable company. He uses it as a dampening mechanism in his portfolios. There is a lot of infrastructure to be done. A great, consistent business. Every time he has made an assessment of these 2, he has gone with this one. The stock is now at the higher level of his valuation, so he owns the bonds.

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Bill Harris, CF

Portfolio , Avenue Investment Ma...

Price Price
$16.800
Owned Owned
No

COMMENT

At these levels, he would be cautious. Just reported quite good earnings. Getting some very strong revenue from their nuclear work with SNC Lavalin (SNC-T) on the Ontario Hydro Bruce facility. Also, the energy backlog is quite good. They have some good potash work. Have executed well.

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At these levels, he would be cautious. Just reported quite good earnings. Getting some very strong revenue from their nuclear work with SNC Lavalin (SNC-T) on the Ontario Hydro Bruce facility. Also, the energy backlog is quite good. They have some good potash work. Have executed well.

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Michael Simpson

Senior Vic, Sentry Investments...

Price Price
$15.830
Owned Owned
Unknown

COMMENT

This will get its fair share of infrastructure spending that governments are planning on. They do a lot of business in the mining and oil/gas business. Thinks it is going to be a very difficult environment for manufacturing and infrastructure that is not government related. He is somewhat apprehensive about this company being able to grow its earnings, because of the weakness in the energy patch. Even if this recovers, it is going to be a long time before there are major investments, as companies are going to have to pay back their debts first.

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This will get its fair share of infrastructure spending that governments are planning on. They do a lot of business in the mining and oil/gas business. Thinks it is going to be a very difficult environment for manufacturing and infrastructure that is not government related. He is somewhat apprehensive about this company being able to grow its earnings, because of the weakness in the energy patch. Even if this recovers, it is going to be a long time before there are major investments, as companies are going to have to pay back their debts first.

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John O'Connell,

Chairman a, Davis Rea...

Price Price
$15.790
Owned Owned
No

BUY
Aecon Group Inc(ARE-T) 

April 25, 2016

This is a beneficiary of the Liberals’ infrastructure program.  Operationally doing well.  They sold some assets and cleared up their balance sheet.  The government is supporting the industry.  The stock chart looks scary, but the fundamentals are solid.

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This is a beneficiary of the Liberals’ infrastructure program.  Operationally doing well.  They sold some assets and cleared up their balance sheet.  The government is supporting the industry.  The stock chart looks scary, but the fundamentals are solid.

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James Rife

Head of Ca, Canalyst Financial M...

Price Price
$16.980
Owned Owned
Unknown

BUY
Aecon Group Inc(ARE-T) 

March 31, 2016

He is modelling that they can grow cash flow per share compounded over the next couple of years at 15%. Trading at a discount to its 5 year average and at a price/cash flow of 7.1. Has a record backlog right now. A nice dividend with a low payout ratio, which can be easily boosted over time. The only issue is that their energy segment is a little challenged.

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He is modelling that they can grow cash flow per share compounded over the next couple of years at 15%. Trading at a discount to its 5 year average and at a price/cash flow of 7.1. Has a record backlog right now. A nice dividend with a low payout ratio, which can be easily boosted over time. The only issue is that their energy segment is a little challenged.

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Greg Newman

Director &, Scotia Wealth Manage...

Price Price
$16.130
Owned Owned
Yes

TOP PICK
Aecon Group Inc(ARE-T) 

March 16, 2016

The Liberal government is already baked into the chart.  They did a recent earnings beat related to Ontario, offsetting Alberta energy.  He is looking to add to it aggressively, especially as it comes to the bottom of its recent trading range.

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The Liberal government is already baked into the chart.  They did a recent earnings beat related to Ontario, offsetting Alberta energy.  He is looking to add to it aggressively, especially as it comes to the bottom of its recent trading range.

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Hap (Robert) Sn

Chief Port, Castlemoore Inc....

Price Price
$16.120
Owned Owned
Yes

COMMENT
Aecon Group Inc(ARE-T) 

March 15, 2016

Would prefer SNC Lavalin (SNC-T), just because it is cheaper. However, this is also a beneficiary of the federal government putting more money into infrastructure. If you are a believer in $50 oil, this is more of an Alberta energy oriented company. He can see 10% upside from here, but more in SNC.

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Would prefer SNC Lavalin (SNC-T), just because it is cheaper. However, this is also a beneficiary of the federal government putting more money into infrastructure. If you are a believer in $50 oil, this is more of an Alberta energy oriented company. He can see 10% upside from here, but more in SNC.

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Bruce Campbell

President, Campbell and Lee Inv...

Price Price
$16.170
Owned Owned
Unknown

TOP PICK
Aecon Group Inc(ARE-T) 

February 17, 2016

Convertible 5.5% bond due Dec 1/18. This can be swapped for stock at $19. The company’s balance sheet is very conservative, so he knows he is going to get paid back at the end of the day. This is also a play on the provincial and federal infrastructure plays. One 3rd to half of revenues comes from public ventures such as subways, etc.

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Convertible 5.5% bond due Dec 1/18. This can be swapped for stock at $19. The company’s balance sheet is very conservative, so he knows he is going to get paid back at the end of the day. This is also a play on the provincial and federal infrastructure plays. One 3rd to half of revenues comes from public ventures such as subways, etc.

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Paul Gardner, C

Partner an, Avenue Investment Ma...

Price Price
$14.720
Owned Owned
Yes

BUY
Aecon Group Inc(ARE-T) 

February 5, 2016

(Market Call Minute.) Safe and would buy it.

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(Market Call Minute.) Safe and would buy it.

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Allan Meyer

VP & Portf, Wickham Investment C...

Price Price
$14.270
Owned Owned
Yes

PAST TOP PICK
Aecon Group Inc(ARE-T) 

February 4, 2016

(A Top Pick Feb 25/15. Up 24.9%.) Were really impacted because of great exposure in Alberta, but thinks that was an overreaction by the market. Have been gaining some significant contracts. Still a Buy.

contractors
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(A Top Pick Feb 25/15. Up 24.9%.) Were really impacted because of great exposure in Alberta, but thinks that was an overreaction by the market. Have been gaining some significant contracts. Still a Buy.

contractors
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Michael Sprung

President, Sprung Investment Ma...

Price Price
$14.290
Owned Owned
Yes

COMMENT
Aecon Group Inc(ARE-T) 

February 2, 2016

From a fundamental point of view, it is a great company. Looking at the bigger picture, it is in an uptrend over most of the past 12-14 months. That is positive. Look for rising highs and rising lows, which this one has. As long as the $13.50-$13.77 holds, it is probably pretty favourable. He doesn’t see anything wrong with this chart.

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From a fundamental point of view, it is a great company. Looking at the bigger picture, it is in an uptrend over most of the past 12-14 months. That is positive. Look for rising highs and rising lows, which this one has. As long as the $13.50-$13.77 holds, it is probably pretty favourable. He doesn’t see anything wrong with this chart.

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Keith Richards

Portfolio , ValueTrend Wealth Ma...

Price Price
$13.840
Owned Owned
Unknown

TOP PICK
Aecon Group Inc(ARE-T) 

January 27, 2016

They are doing the Eglinton subway.  They have been around since the last 1800s.  Reasonable valuation at 12 times next year’s earnings.  They are off their highs because of western exposure, but little of that exposure is to the energy sector. 

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They are doing the Eglinton subway.  They have been around since the last 1800s.  Reasonable valuation at 12 times next year’s earnings.  They are off their highs because of western exposure, but little of that exposure is to the energy sector. 

contractors
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Don Lato

President, Padlock Investment M...

Price Price
$13.630
Owned Owned
Yes

PAST TOP PICK
Aecon Group Inc(ARE-T) 

January 22, 2016

(A Top Pick Feb 6/15. Up 26.6%.) The big driver was the final sale of their concession in the Quito Airport, so they now have no debt. They should benefit from the upcoming fiscal stimulus. Not in the US in a big way, but still feels there is enough opportunity in Canada to win their fair share of the BBB work.

contractors
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(A Top Pick Feb 6/15. Up 26.6%.) The big driver was the final sale of their concession in the Quito Airport, so they now have no debt. They should benefit from the upcoming fiscal stimulus. Not in the US in a big way, but still feels there is enough opportunity in Canada to win their fair share of the BBB work.

contractors
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Michael Simpson

Senior Vic, Sentry Investments...

Price Price
$13.770
Owned Owned
Yes

COMMENT
Aecon Group Inc(ARE-T) 

January 19, 2016

This company stands to win on infrastructure in Canada. A well-run company that has relationships with the oil/gas sector plus much more across Canada. Doing quite well considering that it is attached to the West.

contractors
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This company stands to win on infrastructure in Canada. A well-run company that has relationships with the oil/gas sector plus much more across Canada. Doing quite well considering that it is attached to the West.

contractors
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Michael Smedley

Exec VP & , Morgan Meighan & Ass...

Price Price
$13.020
Owned Owned
Unknown

BUY on WEAKNESS
Aecon Group Inc(ARE-T) 

November 30, 2015

Seasonally strong from end of Nov to Apr of each year.  It is not quite set up just yet so wait until it gets above the point of resistance, then it will be a really good trade.

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Seasonally strong from end of Nov to Apr of each year.  It is not quite set up just yet so wait until it gets above the point of resistance, then it will be a really good trade.

contractors
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Don Vialoux

Research A, TimingTheMarket.CA &...

Price Price
$14.150
Owned Owned
Unknown

PAST TOP PICK
Aecon Group Inc(ARE-T) 

November 26, 2015

(Top Pick Feb 6/15, Up 27.14%) They have a bog back log but had disappointing news yesterday.  He is sticking with it.  They will be debt free soon.  They will win a fair share of projects from Canada’s new government.  They have a low payout ratio and are diversified.  Their backlog is at a record high.

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(Top Pick Feb 6/15, Up 27.14%) They have a bog back log but had disappointing news yesterday.  He is sticking with it.  They will be debt free soon.  They will win a fair share of projects from Canada’s new government.  They have a low payout ratio and are diversified.  Their backlog is at a record high.

contractors
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Michael Simpson

Senior Vic, Sentry Investments...

Price Price
$14.150
Owned Owned
Yes

BUY
Aecon Group Inc(ARE-T) 

October 30, 2015

There has been quite a bit of talk because of possible infrastructure spending in Canada. Thinks this is the best way to get the infrastructure spending of the Liberal government and/or the NDP government in Alberta. This is pretty well diversified across Canada. Valuation is not expensive at under 6X cash flow. They keep outperforming every quarter. There is probably another $4 upside to the stock with $18 being a fair price target for it.

contractors
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There has been quite a bit of talk because of possible infrastructure spending in Canada. Thinks this is the best way to get the infrastructure spending of the Liberal government and/or the NDP government in Alberta. This is pretty well diversified across Canada. Valuation is not expensive at under 6X cash flow. They keep outperforming every quarter. There is probably another $4 upside to the stock with $18 being a fair price target for it.

contractors
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Steve DiGregori

Portfolio , Canoe Financial...

Price Price
$15.110
Owned Owned
Yes

BUY
Aecon Group Inc(ARE-T) 

October 22, 2015

(Market Call Minute) 33% is infrastructure spending and they will benefit, but it will take a while.

contractors
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(Market Call Minute) 33% is infrastructure spending and they will benefit, but it will take a while.

contractors
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Michael Decter

President , Lawrence Decter Inve...

Price Price
$14.980
Owned Owned
No

TOP PICK
Aecon Group Inc(ARE-T) 

October 14, 2015

Investors are rethinking this one.  A significant portion is energy, but maintenance and regular contracting is significant.  New building is only half of their energy exposure.  Their nuclear projects are very sophisticated and higher margin.  Buy today and over the next year or two their margins will slip up a bit.

contractors
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Investors are rethinking this one.  A significant portion is energy, but maintenance and regular contracting is significant.  New building is only half of their energy exposure.  Their nuclear projects are very sophisticated and higher margin.  Buy today and over the next year or two their margins will slip up a bit.

contractors
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Michael Sprung

President, Sprung Investment Ma...

Price Price
$14.080
Owned Owned
Yes

BUY
Aecon Group Inc(ARE-T) 

October 2, 2015

They have a 47% energy exposure but they really beat on their infrastructure.  This is a name he has been buying aggressively.  He likes it.  You can still buy it at these levels.

contractors
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They have a 47% energy exposure but they really beat on their infrastructure.  This is a name he has been buying aggressively.  He likes it.  You can still buy it at these levels.

contractors
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Greg Newman

Director &, Scotia Wealth Manage...

Price Price
$13.600
Owned Owned
Yes

PAST TOP PICK
Aecon Group Inc(ARE-T) 

October 2, 2015

(Top Pick Feb 24/15, Up 21.49%) It pulled back because oil pulled back.  They had this big monetization with a project in Mexico.  He believes in companies with strong back logs.

contractors
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(Top Pick Feb 24/15, Up 21.49%) It pulled back because oil pulled back.  They had this big monetization with a project in Mexico.  He believes in companies with strong back logs.

contractors
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Prakash Harihar

Portfolio , Analytixinsight Inc....

Price Price
$13.600
Owned Owned
Yes

TOP PICK