Wednesday, August 22, 2007

Closing AECOM Technology (ACM) position for now

Posted by TraderMark at 11:28 AM TweetThis
ACM got a Cramer pump yesterday. This is another of the infrastructure plays but more domestic and with a bit more of an environmental bent than the other stocks in the sector.

I bought ACM to be part of a basket of infrastructure plays, but I already have 5 other names, and with the portfolio now up to 58 names, I want to cull some of them to stick to a maximum of around 50 names. So ACM is one to go.

While it trades at about 23x earnings for 2007 estimate of $1.11, 2008 estimate currently only shows $1.26 (13% growth) - that's not bad, but at 23x earnings when I can buy McDermott for under 17x for similar growth, I will just concentrate on the other names in the portfolio in this sector.

I had bought @ $24.78 and $25.97
Sold @ $26.44

Long MDR

Posted by TraderMark at 11:28 AM

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