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BUY
Does trench work for oil/gas in industrial and utilities sectors. No long-term debt. They're paying for their growth expansion through internal generated cash flow. Good management. Like their growth prospects.
oil / gas
BUY
Strong market share. Very strong EBITDA margins. Trades at a fair multiple.
communications / media
BUY
Likes.
Transportation & Environmental Services
BUY
Originally they were in the private label bleach but have expanded to other consumer products as well as health/beauty care. Sees more growth on the pharmaceutical and healthcare side. Management has done a good job.
investment companies / funds
WEAK BUY
Acquired Viking Energy Trust which he owned. Their capital spending is increasing. Payout ratio is 110/115%. Not a bad trust, but there are better opportunities out there.
investment companies / funds
DON'T BUY
They recently announced the price they will get for their metallurgical coal, which was a little bit lower than the market expected. They are faced with some bottlenecks in western Canada, including the rail line and shortage of tires for trucks. Longer term he likes coal. If stock price fell more, he would take a look at it.
other mines
BUY
A smaller oil/gas trust with more exposure to oil. Unique, in that they are a royalty structure. They allow others to drill on their properties and they collect the royalties. In high oil/gas prices, they benefit from the amount of drilling. Solid management.
oil / gas