Here’s a great pick for infrastructure profits

Article Excerpt

Toromont’s shares hit a new all-time high of $111 in May 2021, as the spread of COVID-19 slowed and construction and mining firms began to accelerate their projects. The stock will likely keep moving higher as governments in Ontario and Quebec undertake new infrastructure projects to further spur their recovery. TOROMONT INDUSTRIES LTD. $107 is a buy. The company (Toronto symbol TIH; Aggressive Growth Portfolio; Manufacturing & Industry sector; Shares outstanding: 82.5 million; Market cap: $8.8 billion; Price-to-sales ratio: 2.5; Dividend yield: 1.3%; TSINetwork Rating: Extra Risk; distributes a broad range of industrial equipment (such as bulldozers, backhoe loaders and drills), including Caterpillar machinery, in eastern Canada and the Eastern Seaboard of the U.S. Toromont also makes refrigeration systems through its CIMCO business. Selling new and used heavy equipment accounts for about 40% of overall revenue, followed by product support services (40%), rental equipment (10%), and refrigeration equipment and services (10%). The U.S. and other international markets supply just 2% of…

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