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Started: Elllltelinv, 12 Jun 2024 13:09
Last post: Honest.John, 13 Jun 2024 15:04
I'm liking the restistance it has to drop below 80p for long. Just another down day across the market and opertunity to buy a few more.
...or south in the very short term?
This is heading north
Started: Mulder, 16 May 2024 16:39
Last post: slavetothewage, 12 Jun 2024 08:42
160p would be a fair price for this stock. Yes, it's boring, but as long as it increases profits I don't care.
When it was sub 48p it was screaming out as a 100% er. It's still a very very comfortable 130-140p+ imo, might have some top slicers at 96 area inc myself but that gain remaining should appeal with a new base of investors at 67p looking for that 100%. Oct 23 was exceptionally confusing to me, you could buy this for below net cash but zero interest, as with many i go into i couldn't get anyone i know to take any notice of this "poor low margin, accident-prone, dull business" was all i got.
Mulder, I'm heavily invested here and I know the company and sector well. In 2017 they made £39m, had £178m nett cash, bunged the pension £8.9m, divi £15.1m and the market cap with all of that was circa £464m. So about double current. No one was saying at the time that the MC was way too low... So 160 a share all day long, but 400? What would drive that exactly? Cant see it but I hope you are somehow correct as that would see me out!
GL
Started: playtowin, 16 May 2024 07:38
Last post: bigpunt, 17 May 2024 17:49
My only grievance is I hate it when contracting companies hide behind weekly or monthly cash balances. Just tell us the average daily so we know you are not cherry-picking the day before the payment runs or after the receipts!
A contract with Thames Water. Aaaaaaaagh!
And a nice one at that with what looks like 3 contract wins over recent weeks that we weren't aware of
· Thames Water: award of a Design and Build contract to upgrade two strategic water treatment assets in Berkshire and Hampshire;
· Transport for London (TfL): two major road refurbishment projects at Gallows Corner Flyover and Brent Cross Interchange; and
· Two new framework contracts in the nuclear energy sector.
And the weekly cash position year on year is also vastly improved.
Happy to keep holding and adding as the present Management team are adept and with so much cash and so many Private equity takeover deals being announced in recent days and weeks COST could well receive a bid itself.
Last post: Honest.John, 15 May 2024 09:17
I wasn't expecting the drop but happy to buy a chunk on the drop. I've seen this before with Costain before it eventually ticks back up
On todays dip.
To be honest I didn't think we would see 77p and 78p again.
Too much going on and oodles of cash on the balance sheet.
Started: sheltie, 29 Apr 2024 07:55
Last post: sheltie, 29 Apr 2024 07:55
LONDON - (Sharecast News) - London stocks looked set for a positive open on Monday after closing at another record high at the end of last week.
The FTSE 100 was called to open around 50 points higher. . .
Started: Roguemale1, 21 Apr 2024 11:02
Last post: sheltie, 25 Apr 2024 07:54
Brokers trade history bit of a mess with the non tradable / rights in out in out .
Mistake with numbers sold 80 more then planned, eating into previous buy a little.
Sold before at 83p on 28/5/2020 must of been to fund the rights non tradeable booked 21/5/2020
Sold a tranche at 84p up 5.33% up today .
It's breaking out big time
Its nice to see it breaking through the 80p barrier. Just needs to hold it and build further confidence.
And these guys today .
Above 79p today.
https://www.fool.co.uk/2024/04/22/2-overlooked-cheap-shares-im-tipping-to-eventually-soar/
Some say theirs the kiss of death .
I have had these years .
Above the rights 9 /7/20 @ 62p
Started: sheltie, 23 Apr 2024 15:05
Last post: sheltie, 23 Apr 2024 15:27
PS 'The Naked Trader' also bought shares in Costain Plc (on 10th January 2024) and his position remains open; so he clearly sees no need to sell any of his holding yet either. Nice signs all round. . .
As I bought another 10,000 shares yesterday morning, following the Sunday Times Tip posted here (so a big thank you to Roguemale1 for sharing it, as I had not noticed it myself).
I just thought that it has now been tipped [very recently], by Investors Chronicle, The Daily Telegraph and now The Sunday Times (plus, but to a much less serious extent, Motley Fool!!), so it might be prudent to follow their lead and buy more! So I did!
Not one for being smug or complacent myself, but at present, I am feeling that we might well be at the start of a nice
£1+ journey this year. . . ATB
Started: playtowin, 26 Mar 2024 00:31
Last post: Grezzz, 22 Apr 2024 12:34
Chris_Magpie - Thanks for the headsup re social housing development. Might have confused an article I read with Vistry..
Just to say Costain don't do housing sold homes division decades ago. Afraid benefits in that sector went to Redrow who bought it from them.
But agree still lots of money needing spending in Infrastructure rail,highways,water,nuclear,defence etc
Ps and given that this isn't yet that ex-divi date that I am patiently waiting for, I am a little surprised to see it down again today. On ex-divi date of course you would expect the share price to pull back by the same amount as the dividend being paid. But today - again? Not what I might have expected!
I'm also going to be adding to my holding here but once it has gone ex-dividend, as I'm not personally very interested in the dividend on this particular share. . . ATB
I decided to add some into my ISA today. I can't help thinking that a new Labour government will want to start with a splash and embark on various civil and social engineering projects which would be a great fit for Costain. Housing ought to be a priority, surely? Our general infrastructure is creaking under years of lack of investment. Taxpayers like to see some of their contributions being spent for the benefit of the greater society. Anyway, fingers crossed that Rachel Reeves will put some business our way..
Started: sheltie, 22 Apr 2024 07:52
Last post: sheltie, 22 Apr 2024 07:52
LONDON - (Sharecast News) - UK stocks are expected to rise for the fourth straight day on Monday as investors shake off recent concerns about monetary policy tightening and geopolitics ahead of a busy week for economic data and corporate earnings.
The FTSE 100 is being called to open around 70 points (+0.9%) higher than Friday's close of 7,895.85 as it continues to edge closer to the 8,015.63 record closing high reached earlier this month.
Started: sheltie, 14 Apr 2024 09:23
Last post: sheltie, 14 Apr 2024 09:23
Started: playtowin, 15 Mar 2024 13:06
Last post: m007j, 25 Mar 2024 10:16
I wonder if the seller has been cleared?
Seems like the persistent seller is still around. Shame the shares could not have been placed in one go.
And has our seller now cleared and leaving the door open for some results and new contract deserving rises?
Huntingdon wasn't a by-pass but we know what you mean...
The only issue on the award is that it isn't really clear what slice we will get. Looks like a lump of pipework and some management.
But will the contract be profitable? Huntingdon by pass anyone?
Started: playtowin, 13 Mar 2024 10:51
Last post: coaster, 15 Mar 2024 12:00
Roguemale,
Most people on here would agree with your comments.
It needs to be a quid minimum. 80p doesn't pay for 4 years faith and patience. Dont fprget long term IIs are sitting on a high old average and a rights issue. I would hope they agree that it needs a new CEO first,- a bit of action and this would be more than that without a takeover..
Many thanks...I wasn't able to listen.
I too think it’s a bid target.
The analyst call was embarrassing with how many asked about dividend/excess cash.
Their response was also warm to the idea of a takeover.
You never know. 80-90p could snatch it.
There was a good question in the Q&A Eusabius which you might have missed at 17mins and 45secs.
Can you give us some idea when we might see some contract wins. We've seen some contract wins from Kier and Galliford Try. What cadence of RNS's do we expect to see between now and next results?
Alex Vaghans reply "Yeah a very good question. We've obviously made some announcements on some wins, this year, or last year which has been really pleasing. We expect to be making further announcements. Over the next 6 months we should be making announcements around Energy and the progress we are making, around AMP8, water and building on the success of the Northumbrian water win that we had at the begining of this year, and also then rail and looking at some of the projects we are tendering on at the moment and the fact that we are in the procurement cycle on those. We would expect a number of announcements to come through. I think its also.., one of the other things that we are good at is that we unlock opportunities from the frameworks that we have already secured. We've got a large number of frameworks that we have secured. We are every single month unlocking opportunities from those which we don't publicly disclose, so contracts for people like for Transport for London, for Heathrow Airport.. people like that, we are unlocking that. But to come back to your question you can expect as we come through the next 6 months to see a number of awards coming through
I managed to get an ISA top up today as I have this as one of my number one bid targets due to it being highly profitable, having visibility already over such a strong forward order book, and of course all that cash.
Started: scoredagainsteps, 14 Mar 2024 13:48
Last post: Roguemale1, 14 Mar 2024 15:01
The Divi indeed. Clarity on early pension fund sort out needed, and that won't be until June July probably based on previous.
A large holder on advfn board makes some very good points if you are on there.
THE divi thats the problem . After the results thought to myself 63 iwill be hit again .
Started: Ant1986, 14 Mar 2024 12:28
Last post: Ant1986, 14 Mar 2024 14:37
Ha-ha, though given the size of some of the trades this week, I wouldn't be surprised to see a holdings RNS.
Opps, my mistake, I must have been looking at Chrysalis Investements
Ignore my last message.
There is no RNS about JTC Employer Solutions Trustee Limited selling
JTC Employer Solutions Trustee Limited has been selling, could help explain reluctance of share price to move northwards.
See TR-1 from today.
Couldn't rule this out, given analyst call tone and this in the results: "...identified surplus capital is returned to shareholders through share buy backs or special dividends "
Dropped 13% from Tuesday open, earlier today. By far the worse reaction to any within the sector. Unwarranted in my view.
Started: Johbar22, 14 Mar 2024 13:45
Last post: Johbar22, 14 Mar 2024 13:45
Simply Wall Street has fair value of £1.22. What is going on?
Started: Eusebius, 13 Mar 2024 16:20
Last post: Eusebius, 13 Mar 2024 16:20
Like most small caps, this could now just go to sleep until the next results are out......I hope not!
Last post: Ant1986, 13 Mar 2024 08:18
Up 10% - that should push up the sector as the market leader. Very encouraging.
Started: mainstreet, 12 Mar 2024 08:57
Last post: Clarkcp, 12 Mar 2024 16:39
Buy and forget, this is a no brainer imo. I did the same with KIE in 2022. There is too much cash to ignore in this one. Water is where the easy money is. Gla
It makes for an interesting presentation tomorrow.
I'll set my alarm clock to listen in.
Looking ahead, the company said its expectations for "further progress" in 2024 remain unchanged, as it held on to guidance of an adjusted operating margin run-rate of 3.5% during the year, rising to 4.5% in 2025. Its longer-term ambition to grow margins to above 5.0% still remains.
"The quality and balance of our forward work across our two divisions gives us good visibility on future revenue and margin," Vaughan said.
All this from sharecast is what I see. Solid. Just needs to break channel and head up to that 70-75p range first.
In order for Costain to trade inline with the valuation of Galliford Try, Costain shares would have to rise to 82p. Inline with Kier Group to 1.05p. And inline with Balfour Beatty to 1.25p.
Exactly that m007j and it is an easily identified takeover target.
Can you name me any other listed company in the UK that actually makes more Profit per year than the actual difference between its balance sheet cash and its market capitalisation.
Once the results are fully digested you would expect COST to rerate higher and to become more in line with its peers.
Started: Ant1986, 12 Mar 2024 12:23
Last post: Ant1986, 12 Mar 2024 12:23
For what's it's worth, Investor's Chronicle think the valuation is off too:
https://www.investorschronicle.co.uk/news/2024/03/12/costain-remains-undervalued-despite-revenue-visibility/
Happy to keep adding until fair value reached.
Started: Ant1986, 12 Mar 2024 07:13
Last post: Peteret, 12 Mar 2024 08:57
What a crap reaction from the market.
no wonder firms want to list in the USA
In 2024 no amortisation, reduced one offs, and lower contributions to the pension fund. Perhaps the parsimonious divi.
"Ahead of Market Estimates"
First class numbers all round but the one that stands out for myself
"High quality forward work4 position of around three times FY 23 revenue."
Then look at the cash Costain has versus the market capitalisation. £164M v £188M. No its not a misprint.
I was looking at the operating margin progression and it’s well on track. At 3.8% at present and a very bullish reinstatement of 4.5% in 2025 with goal at 5% - it’s a business changer.
Dividend very welcome too, had half thought it wouldn’t come with others slightly lower than expected.
We should see the UK PLC back infrastructure and then we have the tailwind too.
Started: Ant1986, 6 Mar 2024 07:25
Last post: Ant1986, 6 Mar 2024 07:25
Spotted this in Galliford’s results - “ Our Environment business continues to benefit from high levels of AMP7 spending by our water sector clients.”
Should transfer here very well?
Started: scoredagainsteps, 1 Mar 2024 15:07
Last post: scoredagainsteps, 1 Mar 2024 15:07
Lucky on my trade lost 15 the other day if helds be 100/s down , RATHER take a quick loss then see my account get behind .VERY STRANGE the constant sells . Overall up but will stay out now
Last post: playtowin, 1 Mar 2024 10:34
Well I took the opportunity for a top up into my ISA on the drop and and I'm looking at this for the longer term.
It's got the lot. Profits, Large new contracts and so much cash on the balance sheet.
If they reinstate a progressive dividend then I'd probably look to reinvest it also.
I think this as well. Fantastic trading statement. Suggestions that dividends will be paid again. Also the CEO will host a call with analysts and investors the day after the results. Unlikely to be doing all this if management have bad news for the market.
If you read the last trading update, it’s hardly signaling problems. They are talking about reintroducing a dividend. Slammed this on not much volume to daily 100ma.
Feels very much like trying to turf holders out ahead of decent results.
Tree shake - could be. Someone knows what they are doing. I hasten to admit I am a bit in the dark here.
Is this a tree shake by market makers?
I started to build a position at the back end of 2019, expecting BoJo to follow-up on his infrastructure projects. We all know what happened shortly after that.. However, as much as I dislike Starmer and most of his cronies, I do believe Rachel Reeves is both a smart cookie and a realist. As such, I'd be surprised if civil engineering doesn't feature heavily in her pledge to build the economy. Fingers crossed.
Started: slavetothewage, 28 Feb 2024 07:37
Last post: Grezzz, 29 Feb 2024 09:27
Playtowin - My thoughts exactly. Very impressive location, and recent events considered, they probably negotiated pretty favourable terms.
Bril news and a a good sign.
Better placed also for further business wins.