Well, the U.S. market decided not to rise on Monday. Well, markets don’t rise everyday. (And normally they don’t rise 9 out of 10 days either, but that seems to be about the recent situation).
The S&P 500 was down 0.7% and Toronto was down 0.9%.
Toll Brothers was down 3.7% to $47.49. I last rated it (higher) Buy at $42.81. I don’t think the recent drop is necessarily anything other than normal fluctuations. It has tended to be a somewhat volatile stock. The market may fear some slow-down in U.S. home building with higher interest rates. Home building in the U.S. remains proportionately far lower than in Canada and I believe remains far lower than its historic pace.
CRH Medical was down 5.9%.
I note Fortis was down 1.4% to $42.97. With higher interest rates, utilities lose favor. Fortis has done well over the years and is probably worth accumulating for those seeking dividends. Just be prepared to add if it keeps falling.
I am working on WSP Global now to add to the site. It’s fairly similar to Stantec. It seems to fly under the radar somewhat or at least I have managed to ignore it for years. I am surprised to see how large it is. Ultimately I will do some comparisons to Stantec. So far I have only read the Q3 report and was struck by how straight forward that was. Most quarterly reports seem to have more “boiler plate” than useful facts. WSP seemed to focus on the numbers and to present the numbers in a concise manner. It would have some similarities to SNC Lavelin as well. But SNC got into other businesses as well as ethical trouble and I don’t think I will be looking at that one.