Tclarke Share Discussion Threads

[smartmoney100] 04/6/2019 13:12

Thanks. may buy a few more

[nattagoza] 04/6/2019 13:08

Tree Shake, stop far enough away, quickly topped up, no news that i can see.

[tim1478] 04/6/2019 13:05

Not sure. Disappointing. I had protective stop profit at 118 so out of this excellent firm. Could be a tree shake -- a big one!!

[cc2014] 04/6/2019 13:04

Assume it's the construction PMI this morning and then stop running as the selling was irrational.

the fall was too fast and then selling hasn't continued on the bounce which supports my view it's just stops firing.

Woodford doesn't own any but it's possible someone who owns a load of stocks similar to Woodford has seen their portfolio drop this morning and had a margin call causing the selling here.

I expect normality to set in over the day and the price to recover. I think it would be unrealistic to get back to 132 today but something above 125 might be reasonable.


Edit: took a closer look at the construction PMI. It isn't great but BBY, BVS , CRH, TW., GFRD, RDW are all up whilst a few others are down. On average they are up. So, I don't think it's that.

[fredfishcake] 04/6/2019 13:04

Best guess is read across from Kier, but that was yesterday. Does Woodford hold loads of these or something?

[smartmoney100] 04/6/2019 12:58

Big drop, any news/rumours anyone?

[cc2014] 31/5/2019 08:45

I guess you are probably right lasmo. In some ways you get the opportunity to get the possible explosive increase in profit and margin through Eton and the data centres for free as the underlying historic business supports the share price.

[lasmo] 29/5/2019 12:02

You could be imagining things, although I suspect the award of the first, of many European data centre contracts, might be just around the corner. These contracts are massive and would have a significant impact on TClarkes results. With their contractor relationships and client track record eg google etc they must be well placed.

[cc2014] 29/5/2019 11:39

I have been musing about this post for some time.

Does anyone find the trade flow and price action a bit strange over the last couple of months? I've been investing and trading for very many years and the stock market has been very kind to me. After so many years I've got of got a sense for how share prices move and for when things look unusual.

What I see here is that after a significant price correction, we continue to see a continuous flow of buys. Now the price correction was overdue (PER, net cash, assets etc. were all screaming this for some time) and as is usual price corrections do not go in straight lines and this one is not complete, but what I call the ebb and flow in the share price seems odd.

I would have expected the pullbacks to be stronger, contain more volume and last longer, but that's not what's happening. It's like someone knows something and is not prepared to be patient as they know they are on a limited timeframe. Or there are multiple buyers all of whom know something and are having to compete for stock.

In some ways I don't have to think about this much deeper as the P/E is still low compared with the sector average and in addition profits are rising at a sustainable impressive rate. Further the new stream of business within Eton provides a much better margin and opportunities for growth and the effects of that have yet to play out to any great extent.

Maybe it's as simple as that and some fund managers see consistent long term growth with a low P/E and no debt. However, I keep looking at the trades and the buying pressure seems stronger than I would expect given the share price was 80p only 8 months ago.


When the share price was 80p I was really worried someone would come along and make a bid at 120p which I felt would have been derisory but difficult for the Board to defend. Now any bid would have to be in the 200p area which I still wouldn't be happy with but at least is alot higher than 120p. I don't know, maybe I'm imagining things which aren't there in the trade flow and it is as simple as the shares remain "cheap" but it seems to be something more than that.

[cc2014] 28/5/2019 08:28

Some of the sector moving strongly this morning. Flood of trades on CTO in the first half hour. I assume it's based on this rather than the EU elections.

[effortless cool] 25/5/2019 22:42

Just catching up on CTO. Very pleased with the AGM trading statement. It is in line with my forecasts, and I see no need to change them as a result.

My current valuation is 147p, so the share price has almost caught up, at long last.

I'm optimistic that the interims will justify an upgrade.

[cc2014] 24/5/2019 18:23

It's there now. Thanks

[gdjs100] 24/5/2019 17:46

Payment date was today, not yesterday - mine appeared in my HL account at about 16:15, have another look...

[cc2014] 24/5/2019 15:52

If HL would pay me my dividends on CTO that would be nice considering the payment date was yesterday.

[lasmo] 24/5/2019 15:32

Also possible re-investment of dividends?

[cc2014] 24/5/2019 14:46

I'm a little surprised. I've checked the usual tipsheets and nothing there. I've checked twitter too and no comment their either.

There's a lump of volume left at 140 but after that it looks like a free run to wherever we go next.

Given someone has just spent excactly £20k at 138.8 I assume they haven't finished and will want some more later in the day. I expect they are waiting for some more sellers to appear but will they take 140 at the end of the day if no-one comes out?
That's my ramp for the day! lol.

[edmundshaw] 24/5/2019 14:29

Buying at 139p even.

[rivaldo] 24/5/2019 10:29

Yep, good to see buying at 136.2p now, and relatively small volumes causing a decent jump up.

[its the oxman] 24/5/2019 10:01

140 still calling us.

[cc2014] 21/5/2019 11:37

It looks like the seller at 130 may be finished and now we are ready for the next leg up.

[owenski] 21/5/2019 09:58

Thanks for that EE

[eagle eye] 21/5/2019 09:49

A few notes from the Mello Chiswick presentation last week.

T Clarke sees itself as a Tier 1 contractor.
Typical contract size is around the £5 to £6m mark, however 10% of business is below £500K and 10% is over £25m.

The company aims for a 3% margin, looks to increase it's technology market share and 88% of new business is from existing customers.
The technology division accounted for £42.9m of turnover in 2018 and has forward order book of £53.7m.

Management sees attractive opportunities for growth in data centres where there are not enough contractors to undertake this specialist work.

The three market segments are:

1. Fit out contracts would typically be £5-10m,
2. Co-locations around £25m,
3. Wholesale £50-100m.

Key target markets are Finland, Sweden, Holland and Spain.
The objective is to win one or two contracts per year.

T Clarke employs 1400 staff with extra capacity of 20% provided by known contractors.

Management used the development of 22 Bishopsgate as reference of it's capability.
The building has 65 floors and has facial recognition on entry. Wi-Fi, 4G and fire and security were also installed.
Making buildings smart ready adds a lot of customer value and enhances margins.

The management came across as competent and confident.
Anyone investing here should be made aware of pension provision liabilities which the company is dealing with.
Otherwise, this looks a solid business on an attractive valuation IMHO.


Edit: The presentation was recorded, so I'll post the link when it becomes available.

[rivaldo] 21/5/2019 08:22

Great to see a big part of the Technologies division winning important industry awards:



"ETON wins twice at BCIA Awards 2019

17/5/19 : TClarke’s ETON Associates won two of the major awards at the Building Controls Industry Association Awards last week.

ETON won the Independent Building Controls & BEMS Installer of the Year, as a result of their ‘lasting customer relationships, professionalism and understanding of clients’ needs’. Then Luke WIlliamson came through a record field of finalists to win the Young Engineer of the Year Award.

etc"

[lasmo27] 18/5/2019 19:26

For those that haven't seen it. www.tclarke.co.uk/a-business-relationship-thats-still-strong-after-90-years/