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Morgan Sindall (MGNS)
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Johan De Silva
Posted: 01 October 2024 13:07:48(UTC)
#11

Joined: 22/07/2019(UTC)
Posts: 4,412
Hilda Ogden;320860 wrote:
Oh well, one month on and while I've been thinking about taking profits, MGNS pushes over 3100p. Has the resistance been broken and we are going to see further highs? Could be an interesting time at the budget for MGNS if there's a splurge of public sector infrastructure spending sanctioned. Wait and see on this one before taking profits.
Hilda I use the chart, but...

The numbers are out of this world implying mispriced from the day this was posted (P/E less than 10 on the first post) and many months before then. And they still look cheap... and yes one can argue the peer group is cheap but you can't have a value stock, that pays a dividend, is net cash all very cheap that is also a growth stock. It demands to defy any chart.

We are almost at P/E 12 today, however with an earnings report this could be knocked back down to 10 at todays prices.

It feels safe being value and pays a dividend, I put this in the defensive in-laws portfolio and continue to hold it there and in my own and we are seeing chunky gains. Long may it continue.

[Edit: those that own trusts like DIG will also own MGNS]
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Newbie
Posted: 01 October 2024 13:26:43(UTC)
#14

Joined: 31/01/2012(UTC)
Posts: 3,816
Hold for me !
Low PE,
Good Dividends,
In steady hands (have had dealings directly with JM in the past)
Then again also felt the same when CG-S was at LSE back in 2009 (though he did not get his bonus as share price did not hit target)
Other related plays include - Ashtead, Halma
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Hilda Ogden
Posted: 01 October 2024 15:27:17(UTC)
#12

Joined: 31/07/2023(UTC)
Posts: 883
Johan De Silva;320861 wrote:
Hilda Ogden;320860 wrote:
Oh well, one month on and while I've been thinking about taking profits, MGNS pushes over 3100p. Has the resistance been broken and we are going to see further highs? Could be an interesting time at the budget for MGNS if there's a splurge of public sector infrastructure spending sanctioned. Wait and see on this one before taking profits.
Hilda I use the chart, but...

The numbers are out of this world implying miss price from the day this was posted (P/E less than 10 on the first post) and many months before. And they still look cheap... and yes one can argue the peer group is cheap but you can't have a value stock, that pays a dividend, is net cash all very cheap that is also a growth stock. It demands to defy any chart.

We are almost at P/E 12 today, however with an earnings report this could be knocked back down to 10 at todays prices.

It feels safe being value and pays a dividend, I put this in the defensive in-laws portfolio and continue to hold it there and in my own and we are seeing chunky gains. Long may it continue.

[Edit: those that own trusts like DIG will also own MGNS]

Thanks. Opinion is appreciated. The only firm in the sector that I feel is actually investable.
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Anthony French
Posted: 01 October 2024 15:30:19(UTC)
#15

Joined: 09/09/2018(UTC)
Posts: 9,124

Thanks: 151 times
Was thanked: 1909 time(s) in 1333 post(s)
Miss Price, would be a good name for a racehorse, would have to be a cheap buy though.
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1 user thanked Anthony French for this post.
Johan De Silva on 01/10/2024(UTC)
Hilda Ogden
Posted: 18 October 2024 09:49:36(UTC)
#13

Joined: 31/07/2023(UTC)
Posts: 883
Johan De Silva;320861 wrote:
Hilda Ogden;320860 wrote:
Oh well, one month on and while I've been thinking about taking profits, MGNS pushes over 3100p. Has the resistance been broken and we are going to see further highs? Could be an interesting time at the budget for MGNS if there's a splurge of public sector infrastructure spending sanctioned. Wait and see on this one before taking profits.
Hilda I use the chart, but...

The numbers are out of this world implying mispriced from the day this was posted (P/E less than 10 on the first post) and many months before then. And they still look cheap... and yes one can argue the peer group is cheap but you can't have a value stock, that pays a dividend, is net cash all very cheap that is also a growth stock. It demands to defy any chart.

We are almost at P/E 12 today, however with an earnings report this could be knocked back down to 10 at todays prices.

It feels safe being value and pays a dividend, I put this in the defensive in-laws portfolio and continue to hold it there and in my own and we are seeing chunky gains. Long may it continue.

[Edit: those that own trusts like DIG will also own MGNS]

Oh well. The resistance at 3000 was soon broken and MGNS continues to appreciate. Looking OK for 3500p now?
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Phil 2
Posted: 19 October 2024 10:49:07(UTC)
#16

Joined: 20/07/2018(UTC)
Posts: 2,107

Thanks: 9819 times
Was thanked: 4742 time(s) in 1534 post(s)
Interesting company. Thanks (JDS) for pointing out its inclusion in DIG’s holdings. Here’s their top 10 holdings, as at 31/8/24, which account for just over half the total :

Holding % of portfolio
Unilever PLC 7.51%
TotalEnergies SE 6.89%
AstraZeneca PLC 6.45%
National Grid PLC 6.41%
RELX PLC. 5.65%
London Stock Exchange Group PLC. 4.54%
Diageo PLC. 4.29%
Chesnara PLC 3.40%
Morgan Sindall Group PLC 3.22%
SSE PLC 3.17%

https://markets.ft.com/d...heet/holdings?s=DIG:LSE

DIG has a higher yield (4.86%) than MGNS itself and sits at a discount of 12% or so, depending what platform you get the figure from! ii says 13%, HL have it at 12%. I guess if you like the other holdings it’s not a bad option? There’s even a bonus pun in there somewhere about Diageo being worth a shot 🥃 …

I continue to hold £15k of DIG in my ISA as a steady Edward.

Someone else was discussing RELX in another thread, also in DIG’s top 10 above.


Conversion to a thread all about DIG now complete (!)
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1 user thanked Phil 2 for this post.
Sheerman on 19/10/2024(UTC)
Johan De Silva
Posted: 22 October 2024 07:17:56(UTC)
#17

Joined: 22/07/2019(UTC)
Posts: 4,412
Outstanding trading update.

It does pay to be in net positive cash position in this environment providing and edge. Its also some proof that low margins can be much better than high margin business. The two factors here are linked towards winning business.
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2 users thanked Johan De Silva for this post.
Hilda Ogden on 22/10/2024(UTC), Phil 2 on 22/10/2024(UTC)
Hilda Ogden
Posted: 22 October 2024 07:42:06(UTC)
#18

Joined: 31/07/2023(UTC)
Posts: 883
Johan De Silva;323050 wrote:
Outstanding trading update.

It does pay to be in net positive cash position in this environment providing and edge. Its also some proof that low margins can be much better than high margin business. The two factors here are linked towards winning business.

It's a very well managed company. As far as I'm aware they never take on fixed price contracts and never underbid just to win loss making work. They often take on partnership contracts with local authorities and the like which definitely lowers risk. I like it that there is still a family presence in the top management team. IMO by far the best company in a dreadful (for share holders generally) business. Starting to look like a hold more than a buy though at today's price?
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2 users thanked Hilda Ogden for this post.
D T on 22/10/2024(UTC), Phil 2 on 22/10/2024(UTC)
Phil 2
Posted: 22 October 2024 09:33:15(UTC)
#19

Joined: 20/07/2018(UTC)
Posts: 2,107

Thanks: 9819 times
Was thanked: 4742 time(s) in 1534 post(s)
From Proactive … currently up 14% …

Morgan Sindall Group PLC (LSE:MGNS) shares added 12% on Tuesday after the FTSE 250-listed construction group upgraded its full-year profit forecasts.

Morgan Sindall said its fit-out division “continued to strengthen significantly due to exceptional volumes and is now expected to materially exceed the group's previous expectations”.

The group added that both the construction and infrastructure divisions “are on target to meet their revenue and margin medium-term targets this year”.
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Hilda Ogden
Posted: 22 October 2024 09:55:16(UTC)
#20

Joined: 31/07/2023(UTC)
Posts: 883
My word, the solid fuel rocket boosters are alight this morning at MGNS! And a generally miserable day in the markets.
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