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Strategies & Market Trends : Value Investing

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To: Bob Rudd who wrote (15637)4/6/2005 1:33:13 AM
From: Paul Senior  Read Replies (1) of 70865
SGR: Well, for those of us still with it, it looks like this year we've come back up from the valley:

Shaw's just had or is having a stock offering, and I assume that that has contributed to today's drop in the share price. I hope and expect the drop to be temporary, and I added a few shares today assuming I might correctly be seeing an opportunity.

We know the power market collapsed a few years back, almost taking Shaw down with it. Those problems are behind Shaw (I presume.) Business has come back, and I am hoping business continues to improve as we enter '06. I don't know the intracacies of Shaw's contracts (e.g customer cancellation clauses/terms, % completion accounting, fixed cost contract or not, etc.), but overall, the latest company p.r. from Monday looks promising to me:

"Shaw's backlog totaled $5.1 billion at February 28, 2005, with approximately $2.4 billion, or 46% of the backlog expected to be converted during the next 12 months. Approximately $2.6 billion, or 50%, of the backlog is in environmental the and infrastructure sector, primarily contracts with Federal government agencies and commercial entities; approximately $1.8 billion, or 35%, of the backlog is comprised of projects for energy industry customers, primarily nuclear and fossil fuel power plants; and approximately $0.7 billion, or 13%, related to projects for chemical process industry facilities."

Stock is now under $20. I'll try to hold 18-24 months to see if it might reach $30.
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