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Stantec Inc. (STN)
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North American Construction Group Ltd. (NOA)
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Hammond Power Solutions Inc. Class A Subordinate Voting Shares (HPS.A)
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Hammond Manufacturing Company Limited Class A Subordinate Voting Shares (HMM.A)
Q: Happy Easter.
Are HMM & HPS related ? Do you favor 1 over the other or would you put new $ 50/50 ? How (what tickers) would you split your infrastucture allotment overall ?
In addition to base metals etc, we have STN, AOS, PAVE, NUE, BN. Thank you.
Are HMM & HPS related ? Do you favor 1 over the other or would you put new $ 50/50 ? How (what tickers) would you split your infrastucture allotment overall ?
In addition to base metals etc, we have STN, AOS, PAVE, NUE, BN. Thank you.
5i Research Answer:
Both companies used to be under the same entity before being spun out. We prefer HPS.A due to its slightly better capital-light business model, while HMM. A is quite capital-intensive. HPS.A also just reported a very solid quarter recently and raised its dividend substantially. On the other hand, for companies that are the direct beneficiaries of the infrastructure theme, we like names such as STN, NOA, WSP.