Stantec is updated and rated (higher) Buy at $44.50. I have now been watching this company grow steadily for fourteen years. The share price is occasionally volatile but the earnings have been marching upwards at a high and relatively steady rate. In recent updates I have added a cell to look at the economics of each company. Stantec does seem to have excellent economics. I believe its client customers are “sticky”. It would be false economy for its clients to switch to a cheaper consulting firm when the clients are undertaking very expensive projects.
Perhaps I am becoming complacent but it occurs to me that it is a good thing to own a stable of companies like the ones I own which seem to have good economics which it seems reasonably certain will grow their earnings at some reasonable rate over the next decade or so and furthermore for the most part have reasonable price to earnings ratios. Sure, their share prices would drop if the economy slows but these do seem like the type of companies that can be predicted to recover and grow their share prices over time. Of course I make no guarantees of that, but that is my thinking.