Great figures with terrific growth in North America. If anyone is looking to make a very late counter bid there could be a lot to encourage them in these figures. Held for 10 years and sad to see this great company go.
What was the completion date on this one; i'm getting confused by continuing RNS and also WTM & AMFW voting deadlines this month! But i note the share price finally dropped below Offer, so presumably close to a signed deal and no predator in the wings?
Good move. Looking back, my pre-float investment in 1996 was 900 shares at £2.80, so all that has happened is an extra Nought has appeared in that cost figure ;-)... But not only is there a 7-fold increase, the re-invested divi over 20 years has brought my number of shares up by another 550. All for doing nothing and leaving the papers in a box for two decades! Does that mean 'active' investment isn't worth it...!?!
Sold my remaining holding in ATK at 2080, looks like the market is pricing in a small chance of a counter bid to be pricing it at the full bid price but I'll take that risk.
It's a little sad to see another excellent UK Company gets picked off, but with a few trades this one gave a near 40%+ gain in ~9 months so cannot complain. I imagine that makes me (and many UK PIs) part of the problem.
Confirmed today at £20.80, with no final Divi this Summer. Lots of bunce for the senior staff and Directors, to keep them there for 12 months is written into the small print, so that's why this dragged on a while..!! Still..for my 'dormant' Corporate ISA from end last Century, this is a lovely little CapGain windfall free of tax.
That seems most likely. There was some talk of a tie-up with CH2M Hill earlier in the year but I doubt that is a factor here, and in light of revalations re HS2 and CH2M Hill and the dilution of another quality UK Co. I hope not.
CH2M Hill have pulled out of their HS2 design management contract last week after an appeal by MACE, a losing competitor. Perhaps they are either concentrating on acquiring Atkins? OR (like the Olympics site) Atkins have been approached as an alternative to the two front-runners; they are already 'on the job'!
Could the SP Fall be due to this??
A POSSIBLE BEAR CALL. According to the Sunday Times Atkins designed the Address Hotel Dubai "aka The Towering Inferno" The lawyers should have a field day determining liability and cost of repairs- According to the Sunday Times article the cladding panels had cores of "combustible thermoplastic held between two sheets of aluminium" Even if no eventual liability it could well be a significant call on senior management time (imo etc)
"Engineering consultancy LSE:ATK:Atkins expects flat annual revenue from its UK and continental European business, but said rail contract wins in the Middle East will help bring its full-year results into line with expectations.The oil, gas and ..."
WS Atkins (LON:ATK) was downgraded by research analysts at Citigroup Inc. to a sell rating in a report released on Monday, AR Network reports. They currently have a GBX 1,120 ($17.78) price objective on the stock, up from their previous price objective of GBX 940 ($14.93). Citigroup Inc.s price target indicates a potential downside of 9.60% from the companys current price.
Several other analysts have also recently commented on the stock. Analysts at Jefferies Group raised their price target on shares of WS Atkins (LON:ATK) from GBX 950 ($15.08) to GBX 1,075 ($17.07) in a research note to investors on Monday, August 5th. They now have a hold rating on the stock. Separately, analysts at JPMorgan Chase & Co. raised their price target on shares of WS Atkins (LON:ATK) from GBX 920 ($14.61) to GBX 1,298 ($20.61) in a research note to investors on Thursday, August 1st. They now have an overweight rating on the stock. Finally, analysts at Numis Securities Ltd downgraded shares of WS Atkins (LON:ATK) from an add rating to a hold rating in a research note to investors on Thursday, August 1st. They now have a GBX 1,150 ($18.26) price target on the stock.
Three investment analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. WS Atkins currently has an average rating of Hold and a consensus price target of GBX 1,032.64 ($16.40).
Am still dithering about selling ATK as i can't see the downside news (whoosh! here it comes!). CSG i had been monitoring in 2012/3 but fear i missed the boat there as the property sector bounced earlier this year. Best for me in this sector over 5-10 years have been Aukett Fitzroy architects (big spread but large movements; classic sell and buy-back potential, as the building sector changes) and Renew specialist contractor; currently a 7x bagger, but i sold half at 3x and a quarter at 5x, and hence wariness to do same with ATK espcially when it's all in a ShareSave ISA. Lost a load on the 'old' WYG but have dipped back in again there, and currently moving up strongly (not as much as my SIPP lost on Mouchel, though!!) DC
Happy and surprised at the recent SP rise, but it's just been announced that Jacobs (US Consultancy) has bought SKM (Australian one) for £750m, and they are a smaller company than Atkins by some street, but in more lucrative (mining) markets. 6000 employees at SKM, which kind of suggests each employee is of 'value' £100,000 or more, assuming SKM doesn't have major property or wequipment assets! With a Canadian firm 'merging' with WSP and they themselves buying a Scandinavian consutancy beforehand, looks like consolidation with the big boys' continues. Might explain why Hyder's share price is also going north...?
PS. Will someone please take Watermans out though..my shares there are the same price i bought them in 1993....
...and this time, unlike 6 years ago, i'm not gonna hang on for £12 and see them fall back to half that. Might be too early, but been waiting to bank my ShareSave pot of these for >ten years at over twice the price i bought, and this latest rise looks like a 'sticking' re-assessment to me.
Solid results, especially like the strong cash flow /cash position and Div rise still well covered- UK perfomed surprisingly well, also Asia and Europe. Market liked them also, good so see a strong move up after a downward drift.
HS2 is a concern as Atkins are involved. However I understand that legal challenges in the form of judicial reviews will commence in December 12 and the bill will reach parliament in late 2013 so more fees for Atkins consultants for at least another year.
New to this board and astonished to find that 5 equities in which I have c£25k each all have contributions from you - the others are mlc, mgns, abg and rpc. Don't use iii often.
Alternative was a 3.8% bond and I thought I'd sooner turn my toes up.
Given the saddening inability of our EU leaders to do anything about this since July - and it is an EU mess - wondered if e e cummings' shortest poem may amuse you. he was very lower case so it's called 'a politician' -
a politician is an ar5e upon which everyone has sat except a man
Still looking to put money into equities and if you are interested in getting in touch to share ideas - [email protected]
An investigative report on remuneration committees by Nick Sommerlad for the Daily Mirror dated 19th October 2011 will make uncomfortable reading for ATK holders.
It mentions Dr Krishnamurthy Rajagopal, who sits on the remuneration committees of both Spirax-Sarco Engineering plc (SPX) and WS Atkins plc (ATK). It says that the board of Spirax-Sarco Engineering plc "enjoyed a 54% payrise last year".
With regard to WS Atkins plc, it says that "bosses enjoyed an average 7% payrise last year, compared to 2% for the rest of the staff."
It goes on to reveal the following about WS Atkins plc:
"At last month's annual general meeting, almost 30% of shareholders voted against the pay package that sees the new chief exec's basic pay soar by 26%, plus a string of perks like £15,000 for "professional advice" and £39,000 for one year's rent."
And there is no doubt that these are weak, the markets have been in rally mode the last two weeks and what has Atkins done..... not much.... With years of experience, Im happy with my long on Whitbread and short Atkins. As for talking tripe, well your entitled to your opinion, you said it yourself parts of Atkins business that have been hit hard and this will continue... the sector is not as strong as it once was.
Long term- massive growth potential as the acquisition in the US shows. Do what you want, with all the research you want.
Short term- I see weakness and the sp is chewing on key MAs, we are at a key Fib level and if markets turn next week, I intend to capitalise on the downside,
Time will tell,
Eddie-B, i'm pretty convinced that you do not have a clue about what you are talking about. Granted, there are parts of Atkins business that have been hit hard, notably the Water and Environment Sector, and parts of Highways and Transportation.
But one sector that is growing substantially is Atkins rail divison. If you actually did abit of research rather than a broad brush statement, you would know that there is a substantial amount of work coming out in the near future that will help support a company with excellent turnover and profit margin. Rail as an example, Cardiff Area signalling Renewal, Newport Area Signalling Renewal, Evergreen III, expansion in the Metro's business. Projects hich are unlikely to get cut as the funding is in place already for these, with Atkins at the forefront to secure these contracts. Water granted may be drying up (excuse the pun) accounts for about £40m. The middle east projects are starting to open up again ($3 trillion in infrasturcture projects coming up), a growing Indian Business, a growing presence in China.
There is absolutely no reason why this company will not return to to 1050p share price in afew years time. Given the background of other engineering consultancies going bust or near (white young green and Scotts) to return £190m profit during a recession is fantastic. I'm convinced that this company will continue to emerge resilient and strong, and am convinced that you are talking tripe.
Important message from the Financial Conduct Authority:
Posting inside information that is not public knowledge, or information that is false or misleading, may constitute market abuse.
This could lead to an unlimited fine and up to seven years in prison.
If you have any information, concerns or queries about market abuse, click here.
The content of the messages posted represents the opinions of the author, and does not represent the opinions of Interactive Investor Trading Limited or its affiliates and has not been approved or issued by Interactive Investor Trading Limited.
You should be aware that the other participants of the above discussion group are strangers to you and may make statements which may be misleading, deceptive or wrong.
Please remember that the value of investments or income from them may go down as well as up and that the past performance of an investment is not a guide to its performance in the future.
The discussion boards on this site are intended to be an information sharing forum and is not intended to address your particular requirements.
Whilst information provided on them can help with your investment research you need to consider carefully whether you should make (or refraining from making) investment or other decisions based on what you see without doing further research on investments you are interested in.
Participating in this forum cannot be a substitute for obtaining advice from an appropriate expert independent adviser who takes into account your circumstances and specific investment needs in selected investments that are appropriate for you.