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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.

Ha-ha, though given the size of some of the trades this week, I wouldn't be surprised to see a holdings RNS.

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.

Up 10% - that should push up the sector as the market leader. Very encouraging.

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.

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.

I don't think a £225 - £250m mcap is ridiculous (80-90p).

Think it's too cheap based on known metrics, even those critical of the broadly flat net cash FY24 projection have to acknowledge that's a £25-30m cash increase. They clearly say the current cash pos is down to favorable cash flows but that aside, it's still bloody strong cash generation.

UK companies are so unbelievably beaten up. A P/E of 10 should see this at £200m - £250m and that's before you look at cash in bank or business growth opportunity (water/AMP). Joke valuation.

Mixture of macro environment and overall balance sheet strength. It's very similar, relatively, to Kier's declared dividend.

Indeed, a very flat response to a robust result, though it's only been an hour in fairness.

Can't believe more hasn't been made about the bullish 4.5% operating margin. That's £58.5m profit on £1.3bn turnover. Cost is trading at a complete snip against that projection.

Analyst call, tomorrow.

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.

Future looks very bright.

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?

I think it looks worse from a Marks and Spencer perspective. They own half the business that’s potentially about to launch a legal claim?

Surely you have to pay up or sell up? Either isn’t attractive but maybe OCDO could buy back at a snip?

The way I read the results is that Ocado are finally becoming the tech fulfilment powerhouse they had always promised. 44% up and the biggest retailers in the world onboarding.

I don’t really understand how it has shed £2bn in 2 months. On what news??

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.

No theory here.

Spread is always daft though. I keep thinking what an easy takeover target this is. £170m mcap with the same in cash.

FTSE250 stock, breaking out of weekly bowl, returning to a healthy balance sheet, sustainable operating margins, great project visibility, dividend about to be announced. What a come back.

Onwards and upwards.

Pretty much nailed on now and that will see some big funds adding Keir to their portfolios (far more £££ than those exiting!)

Hopefully we'll see 150p fairly soon, might have to wait until next week's results.

“Due to continued growth the position of HR Administrator has become available to join a growing team based in Maidenhead.”

“ Due to growth,we are looking for a Chief Process Engineer - Clean Energy to join our vibrant team, based in Manchester or Aberdeen”

Posted in the last 24 hours.

Growing business :)

Gap filled now, should head back up towards results and dividend announcement.

Seems to be climbing. And don't worry, when it's officially in the FTSE250, there will be plenty of buying.

Posts strong results, a very good indicator for what to expect here, with the addition of FTSE250 status and new impetus, I'd suggest the SP should also head upwards.