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WSP Global Inc. (WSP $265.84)
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Stantec Inc. (STN $138.61)
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Bird Construction Inc. (BDT $31.42)
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AtkinsRéalis Group Inc. (ATRL $104.31)
Q: Would you consider BDT a reasonable compliment to WSP/STN/ATRL? Of the latter 3, which would be your 2 favourites? Thanks for your response.
5i Research Answer:
BDT is the smallest name of the group ($1.7B market cap vs. $15B+ for the remaining names), but its returns have been quite solid and it trades at a decent valuation, but earnings growth has been slower than its peers. But, we think BDT can complement these names well in an industrial/infrastructure part of a portfolio, although, BDT is more Canadian-specific, while WSP/STN/ATRL lean more into global engineering, consulting, and integrated services.
Of the latter 3, we like WSP and STN.