Mid Cap Ideas

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>>> Vertiv Holdings Co (VRT), together with its subsidiaries, designs, manufactures, and services critical digital infrastructure technologies and life cycle services for data centers, communication networks, and commercial and industrial environments in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. It offers AC and DC power management products, switchgear and busbar products, thermal management products, integrated rack systems, modular solutions, and management systems for monitoring and controlling digital infrastructure that are integral to the technologies used for various services, including e-commerce, online banking, file sharing, video on-demand, energy storage, wireless communications, Internet of Things, and online gaming. The company also provides lifecycle management services, predictive analytics, and professional services for deploying, maintaining, and optimizing its products and their related systems; and preventative maintenance, acceptance testing, engineering and consulting, performance assessments, remote monitoring, training, spare parts, and digital critical infrastructure software services. It offers its products primarily under the Vertiv, Liebert, NetSure, Geist, E&I, Powerbar, and Avocent brands. The company serves cloud services, financial services, healthcare, transportation, manufacturing, energy, education, government, social media, and retail industries through a network of direct sales professionals, independent sales representatives, channel partners, and original equipment manufacturers. Vertiv Holdings Co is headquartered in Westerville, Ohio.

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>>> Insight Enterprises, Inc. (NSIT), together with its subsidiaries, provides information technology (IT) hardware, software services and solutions in the United States and internationally. The company's solution portfolio includes cloud enablement, data and AI, digital strategy, intelligent applications and edge, and IoT solutions, as well as digital transformation services. It also offers cloud and data center platforms; modern workplace; and supply chain optimization solutions. In addition, the company provides software maintenance solutions that offers clients to obtain software upgrades, bug fixes, help desk, and other support services; vendor direct support services; and offers Software-as-a-Service subscription products. Further, it designs, procures, deploys, implements, and manages solutions that combine hardware, software, and services to help businesses. Additionally, the company sources, procures, stages, configures, integrates, tests, refurbishes, and redeploys IT products spanning endpoints to infrastructure; and offers software life cycle and hardware warranty services. It serves construction technology, enterprise business, financial services, health care and life sciences, manufacturing technology, retail, restaurant, service providers, small to medium business, and travel and tourism industries. Insight Enterprises, Inc., was founded in 1988 and is headquartered in Chandler, Arizona.

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>>> Hubbell Incorporated (HUBB), together with its subsidiaries, designs, manufactures, and sells electrical and utility solutions in the United States and internationally. It operates through two segments, Electrical Solutions and Utility Solutions. The Electrical Solution segment offers standard and special application wiring device products, rough-in electrical products, connector and grounding products, lighting fixtures, and other electrical equipment for use in industrial, commercial, and institutional facilities by electrical contractors, maintenance personnel, electricians, utilities, and telecommunications companies, as well as components and assemblies. It also designs and manufactures various industrial controls, and communication systems for use in the non-residential and industrial markets, as well as in the oil and gas, and mining industries. This segment sells its products through electrical and industrial distributors, home centers, retail and hardware outlets, lighting showrooms, and residential product-oriented internet sites; and special application products primarily through wholesale distributors to contractors, industrial customers, and original equipment manufacturers. The Utility Solution segment designs, manufactures, and sells electrical distribution, transmission, substation, and telecommunications products, such as arresters, insulators, connectors, anchors, bushings, and enclosures cutoffs and switches; and utility infrastructure products, including smart meters, communications systems, and protection and control devices. This segment sells its products to distributors. Its brand portfolio includes Hubbell, Kellems, Bryant, Burndy, CMC, Bell, TayMac, Wiegmann, Killark, Hawke, Aclara, Fargo, Quazite, Hot Box, etc. The company was founded in 1888 and is headquartered in Shelton, Connecticut.

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>>> EMCOR Group, Inc. (EME) provides electrical and mechanical construction, and facilities services primarily in the United States and the United Kingdom. It offers design, integration, installation, start-up, operation, and maintenance services related to electrical power transmission, distribution, and generation systems; energy solutions; premises electrical and lighting systems; process instrumentation in the refining, chemical processing, and food processing industries; low-voltage systems, such as fire alarm, security, and process control systems; voice and data communications systems; roadway and transit lighting, signaling, and fiber optic lines; heating, ventilation, air conditioning, refrigeration, and geothermal solutions; clean-room process ventilation systems; fire protection and suppression systems; plumbing, process, and high-purity piping systems; controls and filtration systems; water and wastewater treatment systems; central plant heating and cooling systems; crane and rigging services; millwright services; and steel fabrication, erection, and welding services. The company also provides building services that cover commercial and government site-based operations and maintenance; facility management, maintenance, and services; outage services to utilities and industrial plants; military base operations support services; mobile mechanical maintenance and services; services for indoor air quality; floor care and janitorial services; landscaping, lot sweeping, and snow removal services; vendor management and call center services; installation and support for building systems; program development, management, and maintenance for energy systems; technical consulting and diagnostic services; infrastructure and building projects; small modification and retrofit projects; and other building services. It offers industrial services to oil, gas, and petrochemical industries. The company was incorporated in 1987 and is headquartered in Norwalk, Connecticut.

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>>> Applied Industrial Technologies, Inc. (AIT) distributes industrial motion, power, control, and automation technology solutions in North America, Australia, New Zealand, and Singapore. It operates in two segments, Service Center Based Distribution, and Engineered Solutions. The company distributes bearings, power transmission products, engineered fluid power components and systems, specialty flow control solutions, advanced automation products, industrial rubber products, linear motion components, automation solutions, tools, safety products, oilfield supplies, and other industrial and maintenance supplies; and motors, belting, drives, couplings, pumps, hydraulic and pneumatic components, filtration supplies, valves, fittings, process instrumentation, actuators, and hoses, filtration supplies, as well as other related supplies for general operational needs of customers' machinery and equipment. It also operates fabricated rubber shops and service field crews that install, modify, and repair conveyor belts and rubber linings, as well as offer hose assemblies. In addition, the company provides technical support services; engages in the distribution of fluid power and industrial flow control products; advanced automation solutions, including machine vision, robotics, motion control, and smart technologies. It distributes industrial products through a network of service centers. The company serves various industries, including agriculture and food processing, cement, chemicals and petrochemicals, fabricated metals, forest products, industrial machinery and equipment, life sciences, mining, oil and gas, primary metals, technology, transportation, and utilities, as well as government entities. The company was formerly known as Bearings, Inc. and changed its to name to Applied Industrial Technologies, Inc. in 1997. The company was founded in 1923 and is headquartered in Cleveland, Ohio.

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>>> Medpace Holdings, Inc. (MEDP)

https://finance.yahoo.com/news/next-wave-biotech-3-stocks-170425474.html

Last on our list of biostocks to buy is Medpace Holdings, Inc. (NASDAQ:MEDP), a medical device services & drug research company that offers scientifically-driven clinical development services in the pharmaceutical, medical device, and biotechnology industries. It partners with several companies in the industry and provides them with product development services and execution of clinical trials. MEDP also offers full-service Phase I-IV clinical development services up to post-marketing clinical support. Its clinical trial services include bio-analytical laboratory services, imaging services, clinical human pharmacology, and electrocardiography reading support for clinical trials.

MEDP’s strong third quarter has showcased impressive results, with revenue growing 28.3% YoY. It also beat earnings estimates by 8.82% and is highly recommended by analysts. Even though the company experienced a slight dip in its net income margin to YoY (from 17.2% to 14.3%), its GAAP net income rose to $70.6 million and a strong EBITDA margin of 18.3%. Its consistent momentum and growth make it one of our top choices for biotech stocks right now.

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>>> Signs the S&P 500 rally is broadening beyond megacaps feed investor hopes


Reuters

by Lewis Krauskopf

November 24, 2023


https://finance.yahoo.com/news/broadening-u-stock-rally-feeds-110424040.html


NEW YORK (Reuters) — Signs the U.S. stock market rally is broadening from the so-called Magnificent Seven of mega-cap growth and technology companies is bolstering investor hopes for a rally through year-end.

Equities have risen sharply, with the S&P 500 up over 8% in November, on the cusp of a new high for 2023, fueled by falling Treasury yields and cooling inflation readings that could signal the end of Federal Reserve rate hikes. Yields fall when Treasury prices rise, and the lower returns on guaranteed fixed-income investments make stocks more appealing.

While some big investors are skeptical the rally amounts to more than just a year-end rebound, recent signs of market strength include gains in areas that have lagged this year.

In one encouraging sign, about 55% of the S&P 500 were trading above their 200-day moving averages as of Monday. That level breached 50% last week for the first time in nearly two months, according to LPL Financial.

Breadth is finally starting to broaden out to levels more commensurate with bull markets," said Adam Turnquist, chief technical strategist at LPL Financial. "This has been one of the keys to calling this recovery sustainable."

Equal weight

Among other signs, the equal-weight S&P 500 — a proxy for the average stock in the index — rose 3.24% last week. That was substantially more than the 2.24% rise for the market-cap weighted S&P 500, the biggest percentage point outperformance for the equal-weight index in nearly five months.

Even so, the S&P 500 equal-weight index has gained just 3% in 2023, against an 18% rise for the overall S&P 500 — on pace for the biggest such annual percentage-point gap in 25 years.

Much of that underperformance is due to the outsized gain in the Magnificent Seven stocks, which collectively hold a 28% weight in the S&P 500 index: Apple, Microsoft, Alphabet, Amazon, Nvdia, Meta Plaforms and Tesla. Overall, the group of stocks makes up nearly 50% of the weighting of the Nasdaq 100, which is up nearly 47% for the year to date.

Struggling small-cap and bank stocks have perked up, especially after last week's U.S. consumer price data for October was unchanged from the prior month.

The small-cap Russell 2000 is up 5.5% since the CPI data with the S&P 500 banks index up 6.5%, versus a 3% rise for the S&P 500. Year-to-date, the Russell 2000 is up 2%, while the S&P 500 banks index has fallen over 6%.

Mona Mahajan, senior investment strategist at Edward Jones, said an environment that could be conducive for a broadening of the rally "is starting to take shape."

“This environment where rates are cooling, inflation is moderating and the Fed is on the sidelines, that is typically a good backdrop for risk assets,” Mahajan said.

“Typically when rates start to move lower, you get valuation expansion and the areas that we could see some more meaningful valuation expansion is outside of large-cap tech,” she said.

The equal-weight S&P 500 is trading at a 5% discount to its 10-year average forward price-to-earnings ratio, according to Edward Jones.

Case against

Still, there are reasons to think that the market rally is not on the verge of a sustained broadening.

Investors will get further readings of consumer confidence and inflation next week. Stronger than expected data could spur a selloff in Treasuries, sending yields higher.

At the same time, the sharp rally in stocks for the week ended Nov. 17 was accompanied by high demand for upside call options, particularly in parts of the market that have underperformed this year, such as the small-caps focused iShares Russell 2000 ETF.

Some of that has already started to unwind. "We saw a huge pickup in expectations for IWM, but now those seem to have stabilized," said Steve Sosnick, chief strategist at Interactive Brokers.

The recent surge, which has pushed the broad S&P 500 up approximately 10% over the last three weeks, may not last as investors prepare to close their books for the year, said Jason Draho, head of asset allocation Americas at UBS Global Wealth Management.

"A lot of good news is already priced in and investors may be reluctant to chase the rally," he said.

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>>> Tetra Tech, Inc. (TTEK) provides consulting and engineering services worldwide. The company operates through two segments Government Services Group (GSG) and Commercial/International Services Group (CIG). The GSG segment offers early data collection and monitoring, data analysis and information management, science and engineering applied research, engineering design, project management, and operations and maintenance services; and climate change and energy management consulting, as well as greenhouse gas inventory assessment, certification, reduction, and management services. This segment serves federal, state, and local governments, and development agencies in water resources analysis and water management, environmental monitoring, data analytics, government consulting, waste management, and a range of civil infrastructure master planning and engineering design markets. The CIG segment provides early data collection and monitoring, data analysis and information management, feasibility studies and assessments, science and engineering applied research, engineering design, project management, and operations and maintenance services. This segment serves natural resources, energy, and utilities markets, as well as sustainable infrastructure master planning and engineering design markets. Tetra Tech, Inc. was founded in 1966 and is headquartered in Pasadena, California.

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>>> Ormat Commences Commercial Operation of Two New Battery Storage Facilities for 43MW/43MWh of Cumulative Capacity


Ormat Technologies, Inc.

Jun 26, 2023


https://finance.yahoo.com/news/ormat-commences-commercial-operation-two-131500202.html


Ormat Commenced Commercial Operation of Eight Assets Under Both the Energy Storage and Electricity Segments and Met Its Growth Target for the First Half of 2023


RENO, Nev., June 26, 2023 (GLOBE NEWSWIRE) -- Ormat Technologies, Inc. (NYSE: ORA), a leading renewable energy company, today announced that it has successfully commenced commercial operations for two new battery storage facilities, adding a cumulative capacity of 43MW/43MWh. These storage assets were part of four facilities with a total capacity of 62MW/62MWh planned for the first half of 2023. The completed projects include:

The Upton project, a 23MW/23MWh Battery Energy Storage System (BESS) located in Texas, will provide energy and ancillary services to the Electricity Reliability Council of Texas (ERCOT) and support the electric grid in times of scarcity.

The Andover BESS project, a 20MW/20MWh located in New Jersey, will provide ancillary services to PJM.

The previously announced commercial operation of the 12MW/12MWh Bowling Green and 7MW/7MWh Howell BESS projects, located in Ohio and New Jersey, respectively, that provide ancillary services to PJM.

Doron Blachar, CEO of Ormat Technologies, stated "We are delighted to announce the commencement of operations of two new battery storage facilities. This achievement highlights our commitment to expanding our portfolio of energy storage assets in key U.S. markets. Ormat has successfully executed multiple complex projects overcoming supply chain challenges and met its growth target for the first half of 2023 showcasing our operational capabilities.”

Blachar further highlighted Ormat's recent accomplishments, remarking, “since the beginning of 2023, Ormat has met all Electricity Segment growth targets and successfully completed the construction or enhancement of four power plants, including the 25MW North Valley geothermal power plant, the 6 MW Brady Solar facility, the recovery of Heber 1, and the 6MW upgrade to the Dixie Valley power plant. The successful completion of these projects aligns with the company's goal of expanding its renewable power portfolio and demonstrates a total increase of 99 MW in all segments since the beginning of the year, reaching 1,257 MW.”

Blachar further emphasized the financial benefits of the storage projects, stating, “Ormat will now be able to maximize the economic advantages of these storage assets as they become eligible for Investment Tax Credits (ITC) for the first time. This eligibility allows us to claim approximately 30% of the asset value in tax credits, reducing our capital needs and enhancing earnings. We remain on track with our energy storage growth targets, with plans to bring online two additional assets in 2023 and make further progress towards achieving between 500 to 530 megawatts and over 1 gigawatt-hour in total capacity by the end of 2025. These targets support further top-line and EBITDA expansion."

ABOUT ORMAT TECHNOLOGIES

With over five decades of experience, Ormat Technologies, Inc. is a leading geothermal company and the only vertically integrated company engaged in geothermal and recovered energy generation (“REG”), with robust plans to accelerate long-term growth in the energy storage market and to establish a leading position in the U.S. energy storage market. The Company owns, operates, designs, manufactures, and sells geothermal and REG power plants primarily based on the Ormat Energy Converter – a power generation unit that converts low-, medium- and high-temperature heat into electricity. The Company has engineered, manufactured, and constructed power plants, which it currently owns or has installed for utilities and developers worldwide, totaling approximately 3,200 MW of gross capacity. Ormat leveraged its core capabilities in the geothermal and REG industries and its global presence to expand the Company’s activity into energy storage services, PV solar and energy storage plus PV solar. Ormat’s current total generating portfolio is 1,257MW, comprised of a 1,107 MW geothermal and solar generation portfolio that is spread globally in the U.S., Kenya, Guatemala, Indonesia, Honduras, and Guadeloupe, and a 150 MW energy storage portfolio located in the U.S.

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>>> Iridium connects with Qualcomm <<<


>>> 2 Unlikely Stocks Sent Markets Soaring Friday


By Dan Caplinger

Motley Fool

Jan 6, 2023


https://www.fool.com/investing/2023/01/06/2-unlikely-stocks-sent-markets-soaring-friday/?source=eptyholnk0000202&utm_source=yahoo-host&utm_medium=feed&utm_campaign=article



Iridium connects with Qualcomm

Meanwhile, shares of Iridium Communications picked up 13% on Friday. The satellite network specialist announced a major partnership with Qualcomm (QCOM -0.61%) that could dramatically boost Iridium's business and the space stock's price.

Under the terms of the agreement, Iridium's fully operational satellite constellation will support Qualcomm's new Snapdragon Satellite mobile solution, which is expected to make its debut in the second half of this year. Select premium smartphone models running the Android operating system will start offering emergency messaging over the satellite network in select regions, with plans to roll out service more broadly in the future.

In the long run, Iridium has even more ambitious plans for its satellite network. In addition to voice and data communications via mobile phone, Iridium also notes that its satellite connectivity can have equally useful applications for vehicles as well as in business assets connected through the Internet of Things. By making a partnership with Qualcomm rather than simply making technology available in a single cellphone model, Iridium ensures maximum penetration of its service and opens the door to wider adoption as users get familiar with the technology.

After more than a decade of holding still, Iridium stock has soared fivefold since 2018. Investors are more excited than ever that the long-term vision of the satellite network operator is finally becoming reality.

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>>> Valaris Limited (VAL) provides offshore contract drilling services to the international oil and gas industry. The company owns an offshore drilling rig fleet of 56 rigs, which include 11 drillships, 4 dynamically positioned semisubmersible rigs, 1 moored semisubmersible rig, and 40 jackup rigs. It serves international, government-owned, and independent oil and gas companies in the Gulf of Mexico, the North Sea, the Middle East, West Africa, Australia, and Southeast Asia. The company was incorporated in 2009 and is based in Hamilton, Bermuda.

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>>> ExlService Holdings, Inc. (EXLS) operates as a data analytics, and digital operations and solutions company in the United States and internationally. It operates through Insurance, Healthcare, Analytics, and Emerging Business segments. The company provides digital operations and solutions and analytics-driven services across the insurance industry in areas, such as claims processing, premium and benefit administration, agency management, account reconciliation, policy research, underwriting support, new business acquisition, policy servicing, premium audit, surveys, billing and collection, commercial and residential survey, and customer service using digital technology, artificial intelligence, machine learning, and advanced automation; digital customer acquisition services using a software-as-a-service delivery model through LifePRO and LISS platforms; subrogation services; and Subrosource software platform, an end-to-end subrogation platform. It also offers CareRadius, an integrated care management offering; and health care services related to care management, utilization management, disease management, payment integrity, revenue optimization and customer engagement to healthcare payers, providers, pharmacy benefit managers, and life sciences organizations. Further, it offers predictive and prescriptive analytics in the areas of customer acquisition and lifecycle management, risk underwriting and pricing, operational effectiveness, credit and operational risk monitoring and governance, payment integrity and care management, and data management. The company was founded in 1999 and is headquartered in New York, New York.

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>>> Tetra Tech Expands Digital Water and Energy Practices with the Acquisition of TIGA


BusinessWire

July 7, 2022


https://finance.yahoo.com/news/tetra-tech-expands-digital-water-130000434.html


PASADENA, Calif., July 07, 2022--(BUSINESS WIRE)--Tetra Tech, Inc. (NASDAQ: TTEK), a leading provider of high-end consulting and engineering services, announced today that it has expanded its digital water practice with the acquisition of The Integration Group of Americas (TIGA), an industry leader in process automation and systems integration solutions, including customized software and platform (SaaS/PaaS) applications, advanced data analytics, cloud data integration, and platform virtualization. TIGA expands the company’s digital water practice with industry-leading software engineers, digital automation integrators and advanced data analytics consultants.

"Tetra Tech uses our Leading with Science® approach and the suite of Tetra Tech Delta technologies to provide digital solutions for our clients that generate value by leveraging data analytics and systems integration," said Dan Batrack, Tetra Tech Chairman and CEO. "The addition of TIGA enables us to further expand our high-end digital consulting and platform solutions across water, environmental, and energy sectors."

John Miller, TIGA President, said, "Solving complex challenges related to water, energy, and sustainable infrastructure by leveraging data analytics is a critical need for our clients. By joining Tetra Tech, we will provide industry-leading control system integration and digital transformation services to an expanded client base while simultaneously providing new opportunities for our employees."

The terms of the acquisition were not disclosed. TIGA is joining Tetra Tech’s Government Services Group.

About Tetra Tech

Tetra Tech is a leading provider of high-end consulting and engineering services for projects worldwide. With 21,000 associates working together, Tetra Tech provides clear solutions to complex problems in water, environment, sustainable infrastructure, renewable energy, and international development. We are Leading with Science® to provide sustainable and resilient solutions for our clients. For more information about Tetra Tech, please visit tetratech.com or follow us on LinkedIn, Twitter, and Facebook.

About TIGA

Based in Houston, Texas, TIGA is a leading systems integration and engineering services company that leverages both established and emerging technologies to improve operational efficiency, increase reliability, and enhance safety for industrial markets.

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>>> Buy Generac Stock, Analyst Says. It’s a Top Alternative Energy Bet


Barron's

By Karishma Vanjani

June 2, 2022


https://www.barrons.com/articles/buy-generac-stock-analyst-51654203046?siteid=yhoof2


Demand for home standby generators post-pandemic is moderating, UBS said.

Generac Holdings’ stock got energized on Thursday after UBS called the generator market its top pick, citing the growth in the clean energy segment.

The stock (ticker: GNRC) jumped 10.3% to close at $268.95 on Thursday. It’s fallen some 24% this year. UBS analyst Jon Windham has a 12-month price target of $450 on the stock.

This is an attractive entry point for investors, Windham said, rating the stock at Buy. Windham sees a long-term upside from Generac’s smart home energy product rollout, driven by a more permanent shift in consumers’ inclination to spend on home improvement projects.

Generac recently acquired ecobee, a smart thermostat manufacturer, and offers generators that can be monitored using a smartphone. It also has a battery storage system called PWRcell that harnesses solar power to reduce electric bills and provide backup power during utility power outages.

He forecasts Generac’s Clean Energy revenue will grow to $1.7 billion by 2026 from roughly $550 million in 2022.

Windham also anticipates higher renewable penetration to drive new electricity rate structures in the U.S., which could boost the uptake of Generac’s products. There is a continuing trend toward time-of-use electricity rate structures, which charge customers varying prices per kilowatt-hour based on the demand at that time. Traditional electricity rates have a fixed charge.

That new structure encourages the growth of residential storage and other smart home hardware, he noted.

To be sure, Windham does highlight that demand for home standby generators post-pandemic is moderating, but that is fully reflected in the current share price, he added.

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>>> Kinsale Capital Group, Inc. (KNSL), a specialty insurance company, provides property and casualty insurance products in the United States. The company's commercial lines offerings include construction, small business, excess and general casualty, commercial property, allied health, life sciences, energy, environmental, health care, inland marine, public entity, and commercial insurance, as well as product, professional, and management liability insurance. It markets and sells its insurance products in all 50 states, the District of Columbia, the Commonwealth of Puerto Rico, and the U.S. Virgin Islands primarily through a network of independent insurance brokers. The company was founded in 2009 and is headquartered in Richmond, Virginia.

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>>> Vertiv Reports 25% Net Sales Growth and Record Backlog in Second Quarter; Raises Full Year Guidance for 2021


Business Wire

July 28, 2021


https://finance.yahoo.com/news/vertiv-reports-25-net-sales-100000775.html


Diluted earnings per share of $0.03 increased $0.20 and adjusted diluted earnings per share of $0.31(1) increased $0.15 from last year’s second quarter.

Customer demand remains robust with net sales growth of 25% and organic net sales growth of 20% from last year’s second quarter, with double-digit sales growth in all regions.

Record backlog of $2.3 billion at the end of June. Order growth of 24% compared to prior year’s second quarter.

Second quarter operating profit of $102 million increased $32 million, or 45%, and adjusted operating profit of $134 million increased $31 million, or 30%, from last year’s second quarter. Adjusted operating margin of 10.6%, up 40 basis points.

Strong June month-ending liquidity of $1.1 billion. Year-to-date net operating cash flow of $120 million increased $242 million, and year-to-date free cash flow of $84 million increased $225 million from the prior year first half.

Increasing full year guidance for sales, adjusted operating profit and adjusted diluted earnings per share.


COLUMBUS, Ohio, July 28, 2021--(BUSINESS WIRE)--Vertiv Holdings Co (NYSE: VRT), a global provider of critical digital infrastructure and continuity solutions, today reported strong financial results for its second quarter ended June 30, 2021.

Net sales were $1,260 million, an increase of $255 million, or 25.3%, from last year’s second quarter and a 20.4% organic sales increase excluding the impact of foreign currency. EMEA net sales increased 50.1% (41.5% organic) with recovery continuing from 2020 with strength in colocation data centers. APAC net sales increased 23.3% (15.2% organic), positively impacted by strong sales recovery from COVID-19 impacts in telecom, IT channel and services businesses. Americas net sales increased 16.5% (15.2% organic), led by growth in critical infrastructure and solutions. Orders in the second quarter were up 24.4% compared with the prior year quarter, led by growth in integrated rack solutions. Vertiv’s backlog continued to grow, reaching another record level of $2.3 billion at the end of June, an increase of approximately $525 million from the prior year quarter-end, and up approximately $430 million versus year-end 2020.

Second quarter operating profit of $102 million increased $32 million, and adjusted operating profit of $134 million increased $31 million from the prior year quarter. Higher adjusted operating profit was driven by an $80 million benefit from the profit flowthrough from higher organic volume offset primarily by an approximate $25 million headwind from net material and freight inflation and $20 million higher fixed costs in part due to discrete COVID-19 cost actions taken in last year’s second quarter. The $25 million of net material and freight inflation includes an approximate $10 million offset for year-over-year pricing. We expect pricing to ramp-up as we progress through 2021 and to completely offset gross material and freight inflation within the fourth quarter. Diluted earnings per share of $0.03 increased $0.20, and adjusted diluted earnings per share of $0.31 increased $0.15 from the prior year quarter. The $0.15 improvement in adjusted diluted earnings per share in the second quarter included the benefit of $0.07 from items outside adjusted operating profit, primarily lower tax and interest expense.

"Following a strong start to 2021, we are pleased to report that through the first half of the year, Vertiv performance remains on track," said Rob Johnson, Vertiv’s Chief Executive Officer. "On a quarterly basis, our headline results continue to highlight strong order growth and related sales, and our outlook remains very positive. While inflation is a challenge facing all companies, we are navigating this with additional pricing actions and fixed-cost reductions. We decided in the second quarter to increase spot buys of key electronic components and use expedited freight to best meet the customer requirements of an incredibly strong demand environment. We feel good about market activity levels and coupled with our growth programs, pricing programs and margin improvement initiatives already underway, we are well positioned for the second half of 2021, and we believe these items should provide tailwinds as we enter 2022. Every day we are pleased to be called upon by customers who invite Vertiv to build future-ready infrastructures to meet their ever-accelerating demands for data. Meeting their business needs, without interruption, fuels our passion to achieve."

Dave Cote, Vertiv’s Executive Chairman, added, "Having a great position in a good industry matters. We have reset the foundation of the business and continue to make robust investments in growth and process-related initiatives. We continue to perform well, on both the top and bottom line, and make meaningful progress, quarter over quarter. It’s that incremental achievement that will enable us to create near- and long-term value for our customers and consistently deliver favorable total shareholder returns. I am proud of the Vertiv team, which is working tirelessly to ensure that digital applications are always available and that those information pathways connect the world."

Free Cash Flow and Liquidity

Net cash provided by operating activities of $59 million in the second quarter was $14 million lower than last year’s second quarter, and free cash flow of $41 million was down $21 million in part due to incremental inventory investment in the second quarter in response to the challenging supply chain environment, the timing of cash tax payments and higher year-over-year investment in growth-related capital expenditures. Despite being lower than last year’s second quarter, net cash provided by operating activities was $242 million higher than 2020 on a year-to-date basis, and 2021 year-to-date free cash flow of $84 million was $225 million higher than the comparable prior year period. Liquidity at the end of the first quarter remained strong at $1.1 billion.

Full Year and Third Quarter 2021 Guidance

End-market demand remains robust, and we are increasing our full-year net sales guidance to 14% growth at the midpoint (12% organic growth). While material inflation and supply-chain challenges continue, we have implemented additional pricing actions and fixed cost reductions to help offset these challenges. We are raising the midpoint of our full year adjusted operating profit guidance to $600 million. This full year guidance includes the expected negative net impact in the remainder of the year of current commodity and freight costs as well as price recovery, which typically lags inflation.

Second Quarter 2021 Earnings Conference Call

Vertiv’s management team will discuss the company’s results during a conference call on Wednesday, July 28, starting at 11 a.m. Eastern Time. The call will contain forward-looking statements and other material information regarding Vertiv’s financial and operating results. A webcast of the live conference call will be available for interested parties to listen to by going to the Investor Relations section of the company’s website at investors.vertiv.com. A replay of the conference call will also be available for 30 days following the webcast.

About Vertiv Holdings Co

Vertiv (NYSE: VRT) brings together hardware, software, analytics and ongoing services to ensure its customers’ vital applications run continuously, perform optimally and grow with their business needs. Vertiv solves the most important challenges facing today’s data centers, communication networks and commercial and industrial facilities with a portfolio of power, cooling and IT infrastructure solutions and services that extends from the cloud to the edge of the network. Headquartered in Columbus, Ohio, USA, Vertiv employs approximately 20,000 people and does business in more than 130 countries. For more information, and for the latest news and content from Vertiv, visit Vertiv.com.

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>>> Flowers Foods Acquires Assets Of Koffee Kup Bakery


Yahoo Finance

June 7, 2021


https://finance.yahoo.com/news/flowers-foods-acquires-assets-koffee-203000858.html


THOMASVILLE, Ga., June 7, 2021 /PRNewswire/ -- Flowers Foods, Inc. (NYSE: FLO), producer of Nature's Own, Dave's Killer Bread, Wonder, Canyon Bakehouse, Tastykake, and other bakery foods, announced today that it has acquired the assets of Koffee Kup Bakery, Inc. (KKB) in Burlington, Vermont from the court-appointed receiver of the assets. Financial terms of the transaction were not disclosed.

The acquisition includes three closed bakeries located in Burlington and Brattleboro, Vermont and North Grosvenor Dale, Connecticut, and the Koffee Kup Bakery and Vermont Bread Company brands.

"This acquisition brings brands and production capacity in the Northeast, a key growth market for our company," said Ryals McMullian, Flowers Foods president and CEO. "The Koffee Kup and Vermont Bread Company brands have a strong consumer following in the region and we'll be evaluating their role within our brand portfolio. We have no immediate plans to reopen the bakeries but will be assessing how they may fit our strategic network optimization efforts in the future."

KKB was founded in Troy, Vermont in 1940. The company baked breads, English muffins, buns, and donuts that were marketed throughout the Northeast. In 2013, the company acquired Vermont Bread Company, which produced certified organic breads. KKB closed in April 2021.

About Flowers Foods

Headquartered in Thomasville, Ga., Flowers Foods, Inc. (NYSE: FLO) is one of the largest producers of packaged bakery foods in the United States with 2020 sales of $4.4 billion. Flowers operates bakeries across the country that produce a wide range of bakery products. Among the company's top brands are Nature's Own, Dave's Killer Bread, Wonder, Canyon Bakehouse, and Tastykake. Learn more at www.flowersfoods.com.

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>>> AptarGroup (ATR) Eyeing Voluntis to Expand in Digital Therapeutics


Zacks Equity Research

June 23, 2021


https://finance.yahoo.com/news/aptargroup-atr-eyeing-voluntis-expand-152703648.html


AptarGroup, Inc. ATR is in discussions to acquire Voluntis in a bid to expand its digital therapeutic solutions and digital health services across various chronic conditions and diseases.

Digital therapeutics (DTx) help patients and caregivers treat or prevent diseases through evidence-based interventions supported by high quality software solutions. DTx is used independently or in connection with medications, devices and other therapies to enhance patient care and health outcomes.

Voluntis’ Theraxium platform helps patients manage their treatment with assistance from healthcare providers. This platform provides real-time decision support for an extensive range of chronic diseases, while enabling healthcare providers to remotely monitor the patient’s treatment process and the development of the disease.

This buyout will provide AptarGroup an immediate access to an established proprietary platform and algorithms, which will enhance digital solutions for biotech and pharmaceutical customers as well as other healthcare investors. The company will be able to serve patients and healthcare professionals with a varied range of effective tools to improve clinical outcomes by combining digital therapeutics with AptarGroup’s existing digital health portfolio of connected devices.

This strategic investment will help expand AptarGroup’s digital healthcare offerings and drive innovation in the healthcare space. Per the anticipated deal, Aptar will buy 64.6% of Voluntis share at €8.70 per share for €50.8 million ($61.5 million). The company plans to fund this deal with its existing cash in hand. After the deal’s closure, the transaction is likely to have a dilutive impact on the company’s adjusted earnings per share in the range of 1 cent per share to 2 cents per share for 2022.

AptarGroup’s innovative solutions and services serve a wide range of end markets, comprising pharmaceutical, beauty, personal care, home, food and beverage. Its Pharma segment has been witnessing higher sales to the injectables and active material science solution markets owing to solid demand for vaccine components and active material science solutions.

The Pharma segment’s active material science technology was selected to protect two new at-home COVID-19 tests that have received Emergency Use Authorization from the FDA. In the prescription drug market, the company’s unidose powder device is being used in a pivotal trial of intranasal powder-based Naloxone by Nasus Pharma. Also, a new nasal spray treatment for allergic rhinitis features AptarGroup’s nasal spray device. In the injectables market, the company continues to support various COVID-19 vaccine distributions across all regions.

Price Performance

The company’s shares have gained 35.2% over the past year compared with the industry’s growth of 43.8%.

AptarGroup currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the industrial products sector are Tennant Company TNC, Encore Wire Corp. WIRE and Arconic Corp. ARNC. All of these stocks sport a Zacks Rank #1 (Strong Buy), at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

Tennant has an anticipated earnings growth rate of 49.5% for 2021. The company’s shares have gained around 18%, year to date.

Encore Wire has an estimated earnings growth rate of 49.5% for the ongoing year. Year to date, the company’s shares have rallied nearly 36%.

Arconic has a projected earnings growth rate of 447% for the current year. The stock has appreciated around 21%, so far this year.

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Masimo - >>> Apple Faces Demand to Bar Watch From U.S. as Fight Widens


Bloomberg

by Susan Decker

June 30, 2021


https://finance.yahoo.com/news/apple-watch-blocked-import-u-154317764.html


(Bloomberg) -- Masimo Corp. is expanding its legal fight against Apple Inc., filing a patent-infringement complaint at the U.S. International Trade Commission that seeks to halt imports of the Apple Watch.

Apple’s Series 6 smartwatch infringes five patents for devices that use light transmitted through the body to measure oxygen levels in blood, Masimo said in a complaint filed at the Washington agency. The patented technology is key to Masimo’s core business and Apple is unfairly copying the features, the company said.

Masimo, which develops signal-processing technology for health-care monitors, and its spinoff, Cercacor Laboratories Inc., first sued Apple in January 2020, accusing it of stealing trade secrets and improperly using Masimo inventions related to health monitoring in its Apple Watch.

The patents in the federal case are being reviewed by the U.S. Patent and Trademark Office after Apple argued they didn’t cover new inventions. The judge put that aspect of the case on hold until the reviews are completed.

Unlike a district court, the trade agency won’t delay consideration of the patent complaint and it typically completes investigations in 15-18 months. Conversely, if Apple decides to challenge these patents as well, the patent office is likely to decline any request for a review because the ITC works so quickly.

The dispute is likely to end in a settlement that could net Masimo between $50 million and $300 million a year in royalties, Bloomberg Intelligence analyst Tamlin Bason said in a note Tuesday. Masimo reported $1.14 billion in sales last year.

Apple denies that it stole any trade secrets or infringed the patents in the earlier case. Company officials didn’t immediately respond to queries seeking comment on the new case. The unit that includes sales of Apple Watch reported $30.6 billion in revenue in fiscal 2020.

As part of its ITC complaint, Masimo said the public won’t be harmed if the Apple smartwatch is kept from the U.S. market because the pulse oximetry feature is “not essential to the public health or welfare.”

“Apple heavily markets that feature of the Series 6 to give the watch the appearance of a medical device,” Masimo said in the filing. “Yet, hidden from the millions of purchasers of the Series 6, Apple warns in the fine print that the blood oxygen measurements should not be relied upon for medical purposes.”

The case is In the Matter of Certain Physiological Measurement Devices, 337-3554, U.S. International Trade Commission (Washington).

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Generac - >>> 3 Great Stocks for Low-Risk Investors


These companies with low-risk businesses will hold up over the long run.


Motley Fool

Jim Crumly

Feb 28, 2021


https://www.fool.com/investing/2021/02/28/3-great-stocks-for-low-risk-investors/?source=eptyholnk0000202&utm_source=yahoo-host&utm_medium=feed&utm_campaign=article


The average stock in the S&P 500 index is selling for 22 times earnings expected by analysts in the upcoming year, which is higher than at any time since the dot-com crash of 2000-2002. The market's valuation has some investors nervous now. If you're looking for stocks with lower risk, you're not alone.

No one really knows how the market will move next, but investors can avoid a lot of risk by simply being patient, buying stocks of strong businesses, and holding for the long term. The longer an investor holds shares, the more the quality of the business overshadows fluctuations in valuation.

Here are three high-quality stocks that should appeal to investors who want growth but are concerned about a downturn. The shares of these companies could go down in a market correction along with almost everything else, but their low-risk businesses should outperform in the long run, rewarding patient shareholders.

Abbott Laboratories

Healthcare stocks tend to be "defensive," meaning that their businesses tend to hold up well during downturns in the economy. Abbott Laboratories (NYSE:ABT) is one of the most consistent growth stocks you'll find in the sector. The highly diversified seller of medical devices, diagnostics, pharmaceuticals for emerging market countries, and nutrition products puts together one solid quarter after another and hasn't had an earnings disappointment in over a decade.

Abbott's fourth-quarter results got a big boost from COVID-19 testing. Sales growth of 28% over the period a year ago would be flat if you subtracted the $2.4 billion of sales related to coronavirus testing. But sales of routine diagnostics and medical devices were depressed during the quarter as medical procedures around the world dropped due to the late-year surge in the pandemic. Abbott thinks the demand for COVID-19 testing hasn't peaked yet and will remain strong beyond 2021. Meanwhile, a rebound in routine medical procedures will cause the rest of its business to bounce back, and sales of its FreeStyle Libre continuous glucose monitor are growing more than 40%.

Looking forward, Abbott expects 2021 earnings per share of $5.00, a level that analysts hadn't projected the company to hit until after 2023, and it thinks it will continue to grow profits from there, even after the pandemic. The company continued its streak of 49 years of dividend hikes when it recently boosted the payout by 25%, resulting in a yield of 1.5% and helping investors in this blue chip stock sleep at night.

Prologis

The pandemic accelerated the shift in retail from brick-and-mortar stores to e-commerce, and one consequence has been a boom in demand for warehouse space. That trend created a tailwind for Prologis (NYSE:PLD), a real estate investment trust that's the global leader in logistics real estate. Stable long-term cash flows had made the company an attractive choice for low-risk investors long before that.

Prologis owns almost a billion square feet of logistics real estate housed in 4,700 buildings in 19 countries. The value of the goods passing through its properties represents fully 2.5% of the world's gross national product. That produces a huge and stable base of rents that grows as space in key locations becomes more valuable and the company develops new properties. Core funds from operations per share grew 15% in 2020 and the dividend rose 9.4%, with shares now yielding 2.3%.

An economic recovery aided by stimulus checks and vaccines means that warehouse space will remain in high demand in 2021. Prologis says that inventory levels compared with sales are near record lows and that there are signs that businesses are restocking their inventories to prepare for higher consumer spending and more growth of e-commerce.

The pandemic exposed weaknesses in global supply chains, and Prologis thinks that long-term investments to position goods closer to consumers and make supply chains more resilient will result in incremental demand for 200 million square feet of logistics space in the U.S., a trend that will take several years to play out.

The strong trends fueling Prologis' growth and the durable nature of its cash flows make the business attractive to risk-averse investors.

Generac Holdings

A glance at a chart of the share price of Generac Holdings (NYSE:GNRC) over the last couple of years might lead you to believe that the company is a high-flying tech stock. Shares rose 226% in 2020 and are up 38% already this year. But the maker of industrial equipment for over 60 years is in the sweet spot of some important trends and gives investors the opportunity to tap into long-term growth with less risk than you'd have in many tech stocks.

Generac is the leader in backup generators for home and industrial use. Sales of those products surged during the hurricanes and wildfires of 2019, got a boost from the working-from-home trend in 2020, and will surely benefit from the massive grid failure in Texas this month. The aging U.S. electrical grid and a greater urge to invest in disaster readiness among consumers are powerful tailwinds for the business that should last for years. Residential sales boomed 55% in the fourth quarter, leading to 29% top-line growth and a 39% increase in net profit.

But Generac is moving into new markets in the energy security business that should open up important new opportunities for growth. The company has created a residential clean energy solution that combines solar power generation with high-capacity batteries, the industry's largest inverter for converting direct current to the alternating current that the grid uses, and a load management system. The company's PWRcell energy storage system keeps a whole home functioning off the grid during outages, and when integrated with generators later this year, will be able to keep a home powered indefinitely during grid failures. Sales went from zero to $115 million in 2020 and the company expects 50% to 75% growth in 2021.

Generac also has an opportunity during the global 5G roll-out to sell more power backup systems for cell tower installations, where it's the leader in market share in the U.S. Longer term, the company aspires to help utilities meet peak demand through "virtual power plants," the ability to remotely turn on commercial and residential standby generators and feed power back into the grid, earning income for their owners from assets that sit idle most of the time.

Shares of the stock aren't cheap at 37 times expected 2021 earnings, but Generac's dominance of its niche gives low-risk investors a rapidly growing but easy-to-understand business that has a long runway ahead.

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>>> Generac Accelerates Its Energy Technology Capabilities With Acquisition of Enbala Power Networks


Generac Holdings Inc

October 5, 2020


https://finance.yahoo.com/news/generac-accelerates-energy-technology-capabilities-200500558.html


Acquisition advances Generac into the rapidly growing virtual power plant and smart grid services markets


WAUKESHA, Wis., Oct. 05, 2020 (GLOBE NEWSWIRE) -- Generac Holdings Inc. (“Generac” or the “Company”) (NYSE: GNRC) today announced the signing of an agreement to acquire Enbala Power Networks Inc. (“Enbala”), a leading distributed energy resources technology company. The deal solidifies Generac’s position as a market leader in Smart Grid 2.0 technologies and opens opportunities for the Company as a grid services provider.

Denver-based Enbala is one of the leading providers of distributed energy optimization and control software needed to ensure the operational stability of the world’s power grids. Its Enbala Concerto™ platform is being used by utilities and energy retailers around the world to leverage the power of distributed energy resources (DERs) to respond to the real-time energy balancing needs of power systems and energy markets.

“We’re on the leading edge of a remarkable transformation of the electrical grid, moving from a dated and centralized power distribution model to one that will be digitized, decentralized and more resilient,” said Aaron Jagdfeld, Chief Executive Officer of Generac. “Enbala is a proven virtual power plant and distributed energy resource management platform, and we believe their business model can be incredibly synergistic with our business. We’re proud to be at the forefront of the Smart Grid 2.0 with these new capabilities.”

With thousands of megawatts of residential and industrial standby power generation installed in the United States, Generac’s products can be leveraged in virtual power plant (VPP) and distributed energy resource management system (DERMS) markets. The Enbala Concerto™ software platform enables the connection of DERs to register and participate in distributed energy aggregation and control programs. This means otherwise dormant back up power generation assets can come online as part of a distributed energy solution and generate revenue for the asset owner.

As utility companies adopt cleaner forms of energy while simultaneously dealing with power disruptions, the opportunities to optimize the grid with DERs are becoming more creative. Residential and C&I rooftop solar, behind-the-meter battery storage systems, electric vehicles and flexible electricity load management are key asset components of a healthy future for Generac and distributed energy resources management.

“Distributed generation is a critical next step for utility companies faced with meeting peak demand while also dealing with capacity constraints and regulatory restrictions,” said Jagdfeld. “Enbala and Generac will be able to harness the power of everything from solar-plus-storage systems to our own generators to help limit the need for new power plants and maintain the convenience and flexibility of diversified power production.”

“Together with Generac, we have an unprecedented opportunity to make our energy grids more efficient, resilient and economical,” said Bud Vos, President and CEO of Enbala. “As part of the Generac team, we can now accelerate our vision for a cleaner grid, leveraging our technology and capabilities that help continuously balance supply and demand while enabling rapid and profoundly beneficial changes in our energy markets.”

The transaction is expected to close within thirty days. Terms of the deal were not disclosed.

About Generac

Founded in 1959, Generac is a leading global designer and manufacturer of a wide range of energy technology solutions and other power products. As an industry leader serving residential, light commercial, and industrial markets, Generac's products and solutions are available globally through a broad network of independent dealers, distributors, retailers, e-commerce partners, wholesalers and equipment rental companies, as well as sold direct to certain end user customers.

About Enbala

Enbala provides the advanced technology needed to ensure the operational stability of the world’s power grids by harnessing the power of distributed energy. Concerto, Enbala’s real-time energy-balancing platform, provides a highly flexible approach for creating controllable and dispatchable energy resources from flexible loads, energy storage and renewable energy sources. The platform underpins Enbala’s award-winning and industry-leading DERMS and VPP technology and dynamically optimizes and dispatches distributed energy resources to respond to the real-time needs of the power system. The platform gives energy retailers and utilities the flexibility to operate in real-time and to better manage the escalating complexities of increasingly variable energy assets and evolving market opportunities.

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>>> Teledyne Technologies Incorporated (TDY) provides instrumentation, digital imaging, aerospace and defense electronics, and engineered systems in the United States, the United Kingdom, Canada, the Netherlands, and internationally. The company's Instrumentation segment offers monitoring and control instruments for marine, environmental, industrial, and other applications, as well as electronic test and measurement equipment; and power and communications connectivity devices for distributed instrumentation systems and sensor networks deployed in mission critical and harsh environments. Its Digital Imaging segment provides image sensors and digital cameras for use in industrial, scientific, academic research, and medical applications; and hardware and software for image processing and automatic data collection in industrial, academic research, and medical applications, as well as manufacturing services for micro electro-mechanical systems. This segment also offers light detection and ranging systems; focal plane arrays, sensors, and subsystems; and geospatial software products. The company's Aerospace and Defense Electronics segment provides electronic components and subsystems, as well as communications products, such as defense electronics; environment interconnects; data acquisition and communications equipment for aircraft; components and subsystems for wireless and satellite communications; and general aviation batteries. Its Engineered Systems segment offers systems engineering and integration, technology development, and manufacturing solutions for defense, space, environmental, and energy applications; and designs and manufactures electrochemical energy systems and electronics for military applications. The company markets and sells its products and services through sales forces, third-party distributors, and commissioned sales representatives. Teledyne Technologies Incorporated was founded in 1960 and is headquartered in Thousand Oaks, California.

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>>> Pool Corporation (POOL) distributes swimming pool supplies, equipment, and related leisure products in the United States and internationally. The company offers maintenance products, including chemicals, supplies, and pool accessories; repair and replacement parts for pool equipment, such as cleaners, filters, heaters, pumps, and lights; fiberglass pools, and spas and packaged pool kits comprising walls, liners, braces, and coping for in-ground and above-ground pools; pool equipment and components for new pool construction and the remodeling of existing pools; and irrigation and related products consisting of irrigation system components, and professional lawn care equipment and supplies. It also provides building materials, such as concrete, plumbing and electrical components, functional and decorative pool surfaces, decking materials, tiles, hardscapes, and natural stones for use in pool installations and remodeling; and commercial products, such as heaters, safety equipment, and commercial pumps and filters. In addition, the company offers discretionary recreational and related outdoor lifestyle products that enhance consumers' use and enjoyment of outdoor living spaces, such as spas, grills, and components for outdoor kitchens. It serves swimming pool remodelers and builders; specialty retailers that sell swimming pool supplies; swimming pool repair and service businesses; irrigation construction and landscape maintenance contractors; golf courses; and commercial customers that serve hotels, universities, and community recreational facilities. As of December 31, 2019, the company operated 373 sales centers. Pool Corporation was founded in 1993 and is headquartered in Covington, Louisiana.

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>>> SiteOne Landscape Supply, Inc. (SITE) engages in the wholesale distribution of landscape supplies in the United States and Canada. The company provides a selection of approximately 120,000 stock keeping units, including irrigation supplies, which consists controllers, valves, sprinkler heads, and irrigation and drainage pipes; fertilizers, grass seed, and ice melt products; control products, which include herbicides, fungicides, rodenticides, and other pesticides; landscape accessories, which comprise mulches, soil amendments, tools, and sod; nursery goods, which consist of deciduous shrubs, evergreen shrubs and trees, ornamental trees, shade trees, both field grown and container-grown nursery stock, and plant species; and outdoor lighting products, which include accent lights, dark lights, path lights, up lights, down lights, wall lights, and pool and aquatic area lighting, as well as hardscapes, such as pavers, natural stones, blocks, and other durable materials. It also offers consultative services consisting of assistance with irrigation network design, commercial project planning, generation of sales leads, marketing services and product support, and a series of technical and business management seminars; and distributes branded products of third parties. As of December 29, 2019, the company had 550 branches in the 45 United States and six Canadian provinces. It offers its products under LESCO, SiteOne Green Tech, and Pro-Trade brand names. The company markets its products primarily to residential and commercial landscape professionals who specialize in the design, installation, and maintenance of lawns, gardens, golf courses, and other outdoor spaces through branch network and direct distribution. SiteOne Landscape Supply, Inc. is headquartered in Roswell, Georgia.

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Generac - >>> Amid power outages, CEO of generator maker anticipates ‘massive change’ coming to the grid


CNBC

AUG 7 2020

Tyler Clifford


https://www.cnbc.com/2020/08/07/generac-ceo-anticipates-massive-change-coming-to-the-power-grid.html


KEY POINTS

“We think that there is a massive change coming real soon in the grid,” Generac CEO Aaron Jagdfeld said after lights went out in parts of New York City on Friday morning.

“You’re going to see a lot more decentralized, on-site power generation” as battery technology improves, he said on CNBC’s “Closing Bell.”

“The demand for our products has been very robust, going all the way back to last fall with the shutoffs in California for fire safety reasons, and it’s really accelerated here with the pandemic,” he explained.

Why hurricane impact could lead Generac’s stock higher

The chief executive of a generator manufacturer told CNBC on Friday that he expects drastic changes are coming to power production and his company is making moves to capitalize on the future of electricity.

Aaron Jagdfeld, CEO of Generac, in an appearance on “Closing Bell” said new battery technology has opened the door for households and businesses to become energy independent from the traditional electric grid and break away from centralized systems.

“We think that there is a massive change coming real soon in the grid,” he said. “You’re going to see a lot more decentralized, on-site power generation, from solar to wind. Batteries are a key component of that, of course, because you need to be able to store that energy so that you can use it and deploy it at different times during the day.”

The comments come after the lights went out in parts of New York City, where a power outage struck the upper part of Manhattan and subsequently a section of the Queens borough Friday morning. The outage interrupted service to about 167,000 customers in total and lingered in some areas for hours.

Consolidated Edison, which supplies power in the city and Westchester County, released a statement saying it is investigating the issue. Three transmission networks lost power supply around dawn and were restored shortly thereafter in sections of Manhattan’s Upper West Side, ConEd said.

Jagdfeld said, “The demand for our products has been very robust, going all the way back to last fall with the shutoffs in California for fire safety reasons, and it’s really accelerated here with the pandemic,” as people work, learn and shop from home. “The idea of having a power outage now more than any other time I think is just completely untenable for people.”

Generac CEO talks fixing power grid reliability, decentralizing power generation

Later that morning, Mayor Bill de Blasio said power had been restored by the start of his 10 a.m. press briefing and that the outages could be tied to overnight weather conditions.

Earlier in the week, power was knocked out to millions of customers on the East Coast as downpours and strong winds from Tropical Storm Isaias swept through several states and led to the deaths of at least seven people. The storm made landfall in North Carolina as a hurricane.

Officials with the National Oceanic and Atmospheric Administration’s Climate Prediction Center said Thursday that the Atlantic hurricane season is shaping up to be one of the worst on record due to sea conditions in the tropical Atlantic Ocean and Caribbean Sea. A record nine storms have been named thus far in the 2020 season.

As Bank of America sees it, that could lead to a windfall for Generac, which makes backup power generators for residential and business customers. An analyst upgraded the stock Friday, in a note called “Prince of Darkness,” predicting that the company has a hold on about 80% of the North American residential market for standby generators.

The stock tacked on another 3% in Friday’s session, to close at a high of $178.60. The stock is up more than 77% this year.

Battery technology is a key component to power decentralized electrical systems, and Generac has made progress to gain exposure to the emerging segment of power generation, Jagdfeld said. In April, Generac acquired battery storage manufacturer Pika Energy to enter the energy storage market.

“Storage costs have come down; solar costs have come down. The combination of that technology shift, and then, obviously, the shifts that have been ongoing with regulation incentives that are out there around these new technologies, we see a dramatic shift in the way the electrical grid is going to be deployed over the next decade,” Jagdfeld said.

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>>> New Generac 24kW Generator Powers More, Costs Thousands Less


PR Newswire

August 3, 2020


https://finance.yahoo.com/news/generac-24kw-generator-powers-more-150000439.html


Newest Guardian® Series Generator is The Most Powerful Small-Footprint Generator Ever, Equipped with Energy Management Technology to Drive Savings

WAUKESHA, Wis., Aug. 3, 2020 /PRNewswire/ -- Generac Power Systems, Inc., the leading manufacturer of backup power generation products, has today introduced a new, more powerful addition to the Guardian series of home standby generators. The new generator provides a robust 24 kilowatts of peak power from a 70 percent smaller footprint than traditional generators of this power level, yielding cost savings of up to $8,0001 on purchase and install. This innovative generator is equipped with home energy monitoring technology that could also save owners enough to nearly pay for the entire generator.2

"The reality of today is that the home must be an oasis. People are working from home, entertaining at home, and going to school at home. Protecting families from unexpected power outages is a requirement," said Generac's Chief Marketing Officer, Russ Minick. "The launch of the 24kW home standby generator is another example of how Generac is taking the lead to ensure homeowners and businesses have access to affordable backup power options. Our investment in innovation and technology will continue to play a pivotal role in our success as we continue to lead the industry in design, engineering and product advances."

The new Guardian makes 24kW of peak power, the most ever in the residential, air-cooled class. The powerful, purpose-built Generac G-Force™ engine makes this advancement possible, at a far lower price than liquid-cooled generators. The engine is pressure-lubricated and specifically designed to handle the rigors of generator use.

The new Guardian is also the first generator to be bundled with Generac's new PWRview Automatic Transfer Switch, equipped with the PWRview Home Energy Management System (HEMS). PWRview gives the homeowner powerful insights into their daily home energy consumption, enabling power-saving decisions that can reduce electricity bills by up to 20 percent. That savings can offset the purchase cost of the generator over the product's lifespan. PWRview home energy monitoring information is delivered through the exclusive Generac PWRview app, available for Android and Apple devices.

The smart generator comes standard with Generac's exclusive MobileLink remote-monitoring technology. MobileLink gives users access to critical information including the generator's current operating status, while also providing helpful maintenance schedules all from any smartphone, tablet, or computer. And should the generator turn on in an outage or require maintenance, it alerts the user via text or email, ensuring users always know that their homes are protected.

"We have outfitted the new 24kW Guardian with our state-of-the-art technology that makes it more affordable to acquire and install, easier to own and operate, all while keeping the best-in-class quality Generac home standby generators are known for," said Kyle Raabe, President of consumer power for Generac.

"The flagship of the Guardian line continues our mission to make backup power more accessible for everyone," said Minick. "By integrating advanced Clean Energy technology into our home standby products, we help owners save money and take them one step closer to creating a future that is not dependent on an unreliable electrical grid."

The 24kW Guardian is available through Generac-authorized dealers, wholesale and retail partners. For more information, visit www.generac.com or call 888-GENERAC to speak with a product specialist.

MEDIA CONTACTS:
Generac: Ashley Kast [e-mail] | 608-633-2404

About Generac

Generac Power Systems, Inc. (NYSE: GNRC) is a leading global designer and manufacturer of energy technology solutions and other power products. In 1959, our founder was committed to designing, engineering and manufacturing the first affordable backup generator. More than 60 years later, that dedication to innovation, durability and excellence has resulted in the company's ability to expand its industry-leading product portfolio into homes and small businesses, on job sites, and in industrial and mobile applications across the globe. Generac offers single engine backup and prime power systems up to 2 MW and paralleled solutions up to 100 MW, and uses a variety of fuel sources to support power needs for our customers. Generac hosts Power Outage Central, the definitive source of U.S. power outage data, at Generac.com/poweroutagecentral. For more information about Generac and its products and services, visit Generac.com.

1 Based on real-world product quotes obtained 6/2020
2 Based on average electric bill of $[125] per month, an initial 20% annual electric utility bill savings from the PWRView installation (and resulting energy usage modifications), maintained over a 15-year period, and a 3% annual increase in electricity rates. Utility bill savings based on internal company data, and will vary based on multiple factors, including energy habits, size of home, and number of occupants. Some users may experience less than an initial 20% reduction in annual electric utility bill savings.

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>>> Generac Introduces PWRzone to Simplify and Optimize Rooftop Solar System Design


PR Newswire

June 26, 2020


https://finance.yahoo.com/news/generac-introduces-pwrzone-simplify-optimize-143800061.html


Latest Innovation Maximizes PV Performance and Reduces Installation Cost

WAUKESHA, Wis., June 26, 2020 /PRNewswire/ -- Generac? Power Systems (NYSE: GNRC) has introduced a new, more efficient approach to PV system design and optimization with PWRzone, a total system installation innovation that is faster, more robust and uses fewer complex components than module level power electronics (MLPEs).

Generac's simplified PWRzone system solves several problems faced by solar installers using traditional equipment: high failure rates, low efficiency and complex installations. Competing systems require multiple connection points and hundreds of complex electrical parts, PWRzone reduces the number of connections that must be made on the roof, which also reduces the chance for faulty connections. Because PWRzone uses fewer components and less energy, more solar energy is available to the system owner. And, a recent MPPT shade study showed that PWRzone is a more efficient way to manage shade in a solar installation.

A PWRzone is a customizable sub-array composed of standard solar modules, PV Links, which is Generac's 2500W optimizer and SnapRS, a rapid shutdown switch, where required. The PWRzone architecture allows installers to quickly install by roof conditions and facets. PWRzone gives you the efficiency of a string optimization approach but also the ability to maximize production in all shading scenarios. Installers can put as many as nine PV modules on a single optimizer or as few as two.

"We saw an opportunity to simplify and improve a complex system for installers and homeowners alike," said Russ Minick, Chief Marketing Officer for Generac. "PWRzone creates a cost savings for the installer and a power savings to the system owner. As the clean energy market grows, PWRzone will enable installers to tackle more installations and allow more homeowners to harness clean energy to power their homes and lives. We observed that the straight string approach performs better than MLPE in sunny and mostly sunny conditions, while MLPE performs better in significantly shaded installations. We decided to make a system that delivers the best of both approaches. That is PWRzone. It is innovative, it is simply a better way."

The simplicity of designing the PV system with PWRzone equates to faster install times and better margins for installers together with fewer points of failure and better power utilization for the homeowner. PWRzone adds an element of simplicity when designing solar for Generac PWRcell and is a big next step for Generac's Clean Energy business and product lineup. For more information on PWRzone, visit www.Generac.com/PWRzone.

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>>> Generac Holdings Inc. (GNRC) designs, manufactures, and sells power generation equipment, energy storage systems, and other power products for the residential, and light commercial and industrial markets worldwide. The company offers engines, alternators, transfer switches, and other components fueled by natural gas, liquid propane, gasoline, diesel, and bi-fuel; and batteries and inverters. It also provides residential automatic standby generators ranging in output from 6kW to 60kW; air-cooled engine residential standby generators ranging from 6kW to 22kW; liquid-cooled engine generators with outputs ranging from 22kW to 150kW; Mobile Link, a remote monitoring system for home standby generators; and industrial diesel generators ranging in sizes up to 3,250kW. In addition, the company offers various portable generators ranging in size from 800W to 17.5kW; engine driven power washers; water pumps; outdoor power equipment, such as trimmers and brush mowers, log splitters, lawn and leaf vacuums, and chipper shredders; and clean energy solution under the PWRcell and PWRview brands. Further, it provides light towers, mobile generators, and flameless heaters; light-commercial standby generators ranging from 22kW to 150kW and related transfer switches providing three-phase power for small and mid-sized businesses; and industrial generators ranging in output from 10kW up to 3,250kW used as emergency backup for healthcare, telecom, datacom, commercial office, retail, municipal, and manufacturing markets. Additionally, the company sells aftermarket service parts and product accessories to dealers. It distributes its products through independent residential dealers, industrial distributors and dealers, national and regional retailers, e-commerce partners, electrical, HVAC and solar wholesalers, catalogs, equipment rental companies and distributors, and solar installers; and directly to end users. Generac Holdings Inc. was founded in 1959 and is headquartered in Waukesha, Wisconsin.

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>>> Here's Why You Should Buy SBA Communications (SBAC) Stock Now


Zacks Equity Research

April 17, 2020


https://finance.yahoo.com/news/heres-why-buy-sba-communications-144102324.html


It seems to be a wise decision to add SBA Communications Corporation SBAC, given its efforts to extend business in select international markets with high growth characteristics. Moreover, amid growing demand for data volume and deployment of 5G network, wireless carriers are expanding and enhancing their networks. These positive trends are expected to drive demand for the company’s communications infrastructure assets.

SBA Communications is expected to witness year-over-year growth in funds from operations (FFO) per share in 2020. The company also beat estimates in the last four reported quarter, the average positive surprise being 2.8%.

Its price performance also seems impressive. In fact, this Zacks Rank #2 (Buy) stock has gained 28.1% in the year-to-date period against the industry’s decline of 13.9%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Notably, SBA Communications has a number of other aspects that make it a solid investment choice.

Why the Stock is an Attractive Pick

Favorable industry tailwinds: Mobile subscriber growth has significantly boosted the wireless tower industry. Next-generation 4G LTE networks and increased usage of smartphones and tablets are creating impressive demand for the company’s site leasing business. With increasing smartphone adoption, greater broadband demand and plans for 4G service worldwide, the company is set to pursue international wireless infrastructure opportunities. Furthermore, wireless consumer demand is expected to considerably increase in the upcoming years supported by innovation and accelerated adoption of data-driven mobile devices and applications such as machine-to-machine connections, social networking and streaming of video.SBA Communications’ extensive infrastructure portfolio is well-positioned to meet such demands.

Encouraging FFO picture: SBA Communications’ projected FFO growth rate is 10.3% for 2020. This is higher than the industry average of 0.5%. Further, management expects 2020 AFFO per share in the range of $9.07-$9.47.

Strategic Portfolio Expansion: With decent presence in the United Sates and its territories, SBA Communications has developed or acquired thousands of towers throughout Central and South America and across Canada over the years. Presently, the company continues to expand its tower portfolio and seek new growth opportunities. Supported by strong industry fundamentals, the company is identifying international markets with high growth characteristics and extending its business in these regions. In fact, during the December-end quarter, it acquired 1,336 communication sites for a total cash consideration of $471.7 million.

Encouraging Dividend Payout: Solid dividend payouts remain the biggest attraction for REIT investors, and SBA Communications is boosting shareholder wealth through dividend hikes. Specifically, concurrent with its fourth-quarter 2019 earnings release, the company announced a quarterly cash dividend of 46.5 cents on its Class A common stock, indicating a 25.7% hike from its October-December quarter payout. Given the company’s financial position compared with the industry’s, this dividend rate is anticipated to be sustainable.

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>>> Rollins, Inc., through its subsidiaries, provides pest and termite control services to residential and commercial customers. It offers protection against termite damage, rodents, and insects to homes and businesses, including hotels, food service establishments, food manufacturers, retailers, and transportation companies. The company also provides pest management and sanitation services and products to the food and commodity industries; consulting services on border protection related to Australia's biosecurity program; and bird control and specialist services, as well as offers specialized services to mining, and oil and gas sectors. In addition, it offers mosquito control, wildlife services, lawn care, insulation, and HVAC services. It serves clients directly, as well as through franchisee operations in North America, Australia, Europe, Central America, the Caribbean, the Middle East, Asia, the Mediterranean, Africa, Canada, Australia, and Mexico. Rollins, Inc. was founded in 1948 and is headquartered in Atlanta, Georgia

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Dentsply - >>> Dental-supply company Dentsply’s stock closes at five-year low


By Ciara Linnane

Aug 9, 2018


https://www.marketwatch.com/story/dental-supply-company-dentsplys-stock-is-barreling-toward-a-5-year-low-2018-08-07?siteid=bigcharts&dist=bigcharts


Dentsply slashed guidance and announced a restructuring after its two main dealers cut their inventory by more than expected


Shares of Dentsply Sirona Inc. tumbled 18.7% Tuesday to close at a 5½-year low, after the dental-products maker slashed its full-year outlook and announced a restructuring program after its two main clients cut their inventories by more than expected.

The news overshadowed better-than-expected second-quarter profit and sales.

“We are very disappointed in the results we provided today,” Chief Executive Don Casey told analysts on the company’s XRAY, +0.70% earnings call, according to a FactSet transcript. “We take full accountability for them, and will outline the steps we are taking today to better position this company for sustainable growth going forward.”

York, Pa.–based Dentsply makes and distributes a range of dental products, from consumables — supplies and small equipment that are used in dental offices, such as root-canal instruments and materials, dental anesthetics, prophylaxis paste, dental sealants, impression materials, restorative materials, tooth whiteners and topical fluoride.

The company also makes high-tech equipment, such as imaging equipment and computer-aided design and machining, known by the acronym CAD/CAM, along with dental implants, scanning equipment, orthodontic appliances and dental chairs.

Dentsply said its net loss widened to $1.12 billion, or $4.98 a share, in the period, from $1.05 billion, or $4.58 a share, in the same period a year ago. Excluding nonrecurring items, such as a $1.27 billion goodwill and intangible impairment charge, adjusted earnings per share came to 60 cents, above the FactSet consensus of 59 cents.

Sales rose to $1.04 billion from $992.7 billion, above the FactSet consensus of $1.02 billion.

But the company cut its 2018 adjusted EPS guidance range to $2.00 to $2.15 from $2.55 to $2.65, which now assumes that constant-currency revenue declines about 2% compared with previous expectations of 2% growth.

Read also: These are the biggest mistakes people make with Medicare

Related: He ran up a million dollars in student-loan debt en route to becoming an orthodontist

The planned restructuring will better align the company with its marketplace, said Casey. Dentsply is currently built around 10 dental business units, each of which is responsible for R&D, manufacturing and marketing.

“This structure has served us well in the past but does not reflect today’s customer or competitive marketplace,” said Casey, who has been in the CEO role for six months. “It led to complexity and does not help us to present one face to the customer, leverage cross-selling opportunities, and has significant cost implications.”

In the U.S. alone, the company has more than 15 selling organizations that are all targeting the same customer, he said. The setup also complicates the supply chain, which comprises more than 40 manufacturing facilities and 80 distribution sites, he said. “That just does not allow us to create scale in procurement and demand planning and logistics,” he said.

Chief Financial Officer Nick Williams Alexos said the company’s main dealers, Henry Schein Inc. HSIC, +0.16% and Patterson Dental, part of Patterson Cos. PDCO, +1.61% were expected to reduce inventories by $40 million this year, but are now expected to cut by $100 million to $110 million. Combined with expected revenue declines in technology and equipment, the destocking will weigh through the year, he said.

The company is expecting margins to remain under pressure, as it adjusts to lower sales levels, while continuing to absorb the high costs of sales, general and administrative as well as research and development.

“In addition, the margins reflect certain FX transactional rates, pricing, and promotions, and one-time operating expenses that we will incur to effect the organizational changes,” said Williams.

Stifel analysts said it’s obvious that Dentsply needs to streamline operations and create a more effective selling organization.

“While it is perplexing that the Dentsply Sirona deal closed 2.5 years ago and there is still so much work that needs to be done, we believe the revolving door with management (3 CEOs, 3 COOs) has played a role in hindering the integration,” they wrote in a note.

But they are hopeful the plans for the supply chain will help the company take advantage of cross-selling opportunities.

“Executing on the potential revenue/cost synergies will play a critical role in the stock’s ability to sustainably bounce off the current lows over the next 12 months,” they wrote. Stifel is sticking with a buy rating on the stock, although “frustration remains.”

Henry Schein, meanwhile, on Monday reported better-than-expected earnings and raised its earnings outlook, while also announcing restructuring actions that include job cuts and plant closures.

Leerink raised its price target to $100 from $80 on the news and highlighted its performance in the dental market.

“We were impressed by another strong quarter for the dental segment amid commentary from management of a “very stable” market in which management believes HSIC has been taking share,” analyst David Larson wrote in a note, reiterating his outperform rating. Patterson Cos. is scheduled to report its fiscal first-quarter earnings on Aug. 23.

Henry Schein shares were down 3.6% on Tuesday, while Patterson shares were down 9.6%.

Other stocks of companies engaged in the dental market were also lower. Align Technology Inc. ALGN, -2.23% was down 1%, Procter & Gamble Co. PG, -0.48% was down 0.5%, Kimberly-Clark Corp. KMB, -1.38% was off 17% and Colgate-Palmolive Co. CL, -0.69% was off 0.5%.

Dentsply has lost 40% of its value in 2018, while the S&P 500 SPX, -0.48% has gained 6.9% and the Dow Jones Industrial Average DJIA, -0.35% has gained 3.8%.

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>>> American Water Works Company, Inc. is a holding company for regulated and market-based subsidiaries throughout the United States and Ontario, Canada. The Company's Regulated Businesses segment provides water and wastewater services as public utilities in 16 states in the United States as of December 31, 2016. The Market-Based Businesses consists of four segments, including Military Services Group, which conducts operation and maintenance (O&M) of water and wastewater systems for military bases; Contract Operations Group, which conducts O&M of water and wastewater facilities for municipalities and the food and beverage industry; Homeowner Services Group, which primarily provides water and sewer line protection plans for homeowners, and Keystone, which provides water services for natural gas exploration and production companies. The Company, through its subsidiary, American Water Works Service Company, Inc. provides support and operational services for its operating subsidiaries. <<<

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>>> Align Technology, Inc. designs, manufactures and markets a system of clear aligner therapy, intra-oral scanners and CAD & CAM digital services used in dentistry, orthodontics, and dental records storage. It operates through the following segments: Clear Aligner and Scanners & Services. The Clear Aligner segment consists of Invisalign System, which includes invisalign full, express & lite, teen, assist, vivera retainers, along with training and ancillary products for treating malocclusion. The Scanners & Services segment consists of intra-oral scanning systems and additional services available with the intra-oral scanners that provide digital alternatives to the traditional cast models. This segment includes iTero scanner and OrthoCAD services. The company was founded by Zia Chishti and Kelsey Wirth in March 1997 and is headquartered in San Jose, CA. <<

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>>> Rollins Acquires Safeguard Pest Control



PR Newswire

June 29, 2016



http://finance.yahoo.com/news/rollins-acquires-safeguard-pest-control-114800706.html



ATLANTA, June 29, 2016 /PRNewswire/ -- Rollins, Inc. (ROL), a premier global consumer and commercial services company, today announced that it has purchased the stock of Safeguard Pest Control and Environmental Services Limited, operating in greater London and Southeastern England. The acquisition closed today and is Rollins' first company-owned operation in the United Kingdom.

Established in 1991 and headquartered in Westersham Kent, United Kingdom, Safeguard is a long established pest control company in the UK, with a rich history of providing superior pest control, bird control, and specialist services to residential and commercial customers. Owners Paul Butterick and Tim Sheehan will stay on to run the company operations.

Gary W. Rollins, Vice Chairman and Chief Executive Officer of Rollins stated, "The Safeguard acquisition is an important milestone and expands our global presence. Safeguard's outstanding management team has established the company as an industry leader, and we share a culture of continuous improvement and ongoing investment in training and development. Further, we are pleased that Paul and Tim will remain in leadership roles and look forward to sharing best practices between the two organizations."

Rollins, Inc. is a premier global consumer and commercial services company. Through its wholly owned subsidiaries, Orkin LLC., HomeTeam Pest Defense, Orkin Canada, Western Pest Services, Critter Control, Inc., The Industrial Fumigant Company, Trutech LLC., Rollins Australia, Waltham Services LLC., PermaTreat, Rollins UK, and Crane Pest Control, the Company provides essential pest control services and protection against termite damage, rodents and insects to more than two million customers in the United States, Canada, Central America, South America, the Caribbean, the Middle East, Asia, the Mediterranean, Europe, Africa, Mexico, and Australia from more than 700 locations.

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>>> Rollins, Inc., through its subsidiaries, provides pest and termite control services to residential and commercial customers. Its pest control services include protection against termite damage, rodents, and insects to homes and businesses, including hotels, food service establishments, food manufacturers, retailers, and transportation companies. The company also provides pest management and sanitation services and products to the food and commodity industries; and consulting services on border protection related to Australia?s biosecurity program, as well as offers specialized services to mining, and oil and gas sectors. It serves clients directly, as well as through franchises operations in Australia, the United States, Canada, Central America, the Caribbean, the Middle East, Asia, the Mediterranean, Europe, Africa, and Mexico. Rollins, Inc. was founded in 1948 and is headquartered in Atlanta, Georgia.

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>>> Omega Healthcare Investors, Inc. is a real estate investment firm. The firm invests in the real estate markets of United States. It invests in healthcare facilities, primarily in long-term healthcare facilities in order to create its portfolio. Omega Healthcare Investors, Inc. was founded in 1992 and is based in Maryland, United States. <<<

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>>> Church & Dwight Co., Inc., together with its subsidiaries, develops, manufactures, and markets a range of household, personal care, and specialty products under various brand names in the United States and internationally. The company operates in three segments: Consumer Domestic, Consumer International, and Specialty Products Division (SPD). The Consumer Domestic segment offers household products, such as baking soda, carpet and cat litter deodorizers, clumping cat litters, washing soda, fabric softeners, daily shower cleaners, cleaning products, dishwashing boosters, laundry and cleaning solutions, and bathroom cleaners, as well as powder, liquid, and unit dose laundry detergents; and personal care products, which comprise toothpastes, home pregnancy and ovulation test kits, deodorants and antiperspirants, toothbrushes, shampoos, dietary supplements, depilatories, lotions, creams, waxes, oral analgesics, and nasal saline moisturizers, as well as condoms, lubricants, and vibrating products. The Consumer International segment markets and sells various personal care, over-the-counter, and household products in international markets, including Canada, France, Australia, the United Kingdom, Mexico, and Brazil. The SPD segment offers specialty chemicals, such as performance grade sodium bicarbonate, potassium carbonate, and potassium bicarbonate; animal nutrition products, including feed grade sodium bicarbonate, rumen fermentation enhancers, feed grade potassium carbonate, rumen bypass fat and lysine, omega 3 and omega 6 essential fatty acids, and natural sodium sesquicarbonate; and specialty cleaners for commercial, professional, and industrial applications. The company sells its products through supermarkets, mass merchandisers, wholesale clubs, drugstores, convenience stores, home stores, dollar and pet stores, and other specialty stores, as well as through Websites. Church & Dwight Co., Inc. was founded in 1846 and is headquartered in Ewing, New Jersey. <<<

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>>> Waste Connections, Inc., an integrated municipal solid waste company, provides solid waste collection, transfer, disposal, and recycling services primarily in the United States. The company operates in four segments: Western, Central, Eastern, and Exploration and Production (E&P). It offers collection services to residential, commercial, industrial, and E&P customers; landfill disposal services; and recycling services for various recyclable materials, including compost, cardboard, office paper, plastic containers, glass bottles, and ferrous and aluminum metals. The company also owns and operates transfer stations that receive, compact, and load waste to be transported to landfills or treatment facilities via truck, rail, or barge; and intermodal services, including repositioning, storage, maintenance, and repair of cargo containers for international shipping companies for the rail haul movement of cargo and solid waste containers in the Pacific Northwest through a network of intermodal facilities. In addition, it treats, recovers, and disposes waste resulting from oil and natural gas exploration and production activity, such as drilling fluids, drill cuttings, completion fluids, and flowback water; production wastes and produced water during a well?s operating life; contaminated soils that require treatment during site reclamation; and substances that require clean-up after a spill, reserve pit clean-up, or pipeline rupture. Further, the company provides container and chassis sales and leasing services to its customers. As of December 31, 2013, it owned or operated a network of 148 solid waste collection operations; 66 transfer stations; 7 intermodal facilities; 36 recycling operations; 55 landfills; 20 E&P liquid waste injection wells; 17 E&P waste treatment and recovery facilities; and 20 oil recovery facilities. Waste Connections, Inc. was founded in 1997 and is headquartered in The Woodlands, Texas. <<<

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>>> UGI Corporation, through its subsidiaries, distributes, stores, transports, and markets energy products and related services in the United States and internationally. It distributes propane to approximately 2 million residential, commercial/industrial, motor fuel, agricultural, and wholesale customers in 50 states through 2,500 propane distribution locations; and sells, installs, and services propane appliances, including heating systems. The company also distributes liquid petroleum gas (LPG) to residential and small business users, housing developments, hospitals, municipalities and medium-sized industrial enterprises, and poultry brooders for space and water heating, cooking, process heat, transportation, construction work, manufacturing, crop drying, power generation, and irrigation; and provides logistic and storage services to third-party LPG distributors. In addition, it distributes natural gas to approximately 600,000 customers primarily in the portions of 46 Pennsylvania counties through its distribution system of 12,000 miles of gas mains; and supplies electricity to approximately 62,000 customers in Pennsylvania through 1,900 miles of lines and 13 substations. Further, the company is involved in the retail sale of natural gas, liquid fuels, and electricity to approximately 17,000 commercial and industrial customers at approximately 41,000 locations. Additionally, it operates electric generation facilities, which include solar and landfill gas facilities; a natural gas liquefaction, storage, and vaporization facility; propane storage and propane-air mixing stations; and rail transshipment terminals. The company also manages natural gas pipeline and storage contracts; develops, owns, and operates pipelines, gathering infrastructure, and gas storage facilities; and provides heating, ventilation, air conditioning, refrigeration, and electrical contracting services. UGI Corporation was founded in 1882 and is based in King of Prussia, Pennsylvania. <<<

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>>> Old Dominion Freight Line, Inc. operates as a less-than-truckload (LTL) motor carrier in North America. It provides regional, inter-regional, and national LTL services; and other logistics services. The company also offers various value-added services, including international freight forwarding, ground and air expedited transportation, container delivery, truckload brokerage, supply chain consulting, warehousing, and consumer household pickup and delivery. As of December 31, 2013, it owned 6,296 tractors and 25,052 trailers, as well as operated 221 service centers. The company was founded in 1934 and is based in Thomasville, North Carolina. <<<

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>>> Extra Space Storage, Inc. operates as a real estate investment trust (REIT) in the United States. It engages in property management and development activities that include acquiring, managing, developing, and selling, as well as the rental of self-storage facilities. As of December 31, 2006, Extra Space Storage owned interests in 567 properties located in 32 states and Washington, D.C., as well as managed 74 properties owned by franchisees or third parties. As a REIT, the company would not be subject to federal corporate income taxes if it distributes at least 90% of its taxable income to its stockholders. The company was founded in 1977 and is based in Salt Lake City, Utah. <<<

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>>> Ball Corporation, together with its subsidiaries, supplies metal packaging products to the beverage, food, personal care, and household products industries worldwide. It operates in four segments: Metal Beverage Packaging, Americas and Asia; Metal Beverage Packaging, Europe; Metal Food and Household Products Packaging; and Aerospace and Technologies. The Metal Beverage Packaging, Americas and Asia segment manufactures and sells metal beverage container products for use in beverage packaging; and non-beverage plastic containers. The Metal Beverage Packaging, Europe segment manufactures and sells metal beverage containers in Europe. The Metal Food and Household Products Packaging segment offers metal food, aerosol, paint, general line, and extruded aluminum containers, as well as decorative specialty containers and aluminum slugs; and extruded aluminum aerosol packaging products in Mexico. The Aerospace and Technologies segment designs, develops, and manufactures aerospace systems, including spacecraft, instruments and sensors, radio frequency systems and components, data exploitation solutions, and aerospace technologies and products for civil, commercial, and national security aerospace markets. It is also involved in the design, manufacture, and testing of satellites, remote sensors, and ground station control hardware and software, as well as provides related services, such as launch vehicle integration and satellite operations. In addition, this segment offers target identification, warning, and attitude control systems and components; cryogenic systems for reactant storage, and associated sensor cooling devices; star trackers; and fast-steering mirrors, as well as technical services and products to government agencies, prime contractors, and commercial organizations for various information warfare, electronic warfare, avionics, intelligence, training, and space systems needs. Ball Corporation was founded in 1880 and is headquartered in Broomfield, Colorado. <<<

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>>> American Water Works Company, Inc., through its subsidiaries, provides water and wastewater services in the United States and Canada. The company?s Regulated Businesses segment offers water and wastewater services to approximately 1,500 communities in 16 states. It operates approximately 80 surface water treatment plants; 500 groundwater treatment plants; 1,000 groundwater wells; 100 wastewater treatment facilities; 1,200 treated water storage facilities; 1,300 pumping stations; 87 dams; and 47,000 miles of mains and collection pipes. This segment serves residential customers; commercial customers, such as shops and businesses; industrial customers, including manufacturing and production operations; public authorities, which comprise government buildings and other public sector facilities; and other water utilities, as well as supplies water to public fire hydrants for firefighting purposes, and private fire customers for use in fire suppression systems in office buildings and other facilities. Its Market-Based Operations segment undertakes contracts to design, build, operate, and maintain water and wastewater facilities for the United States military, municipalities, the food and beverage industry, and other customers; provides services to homeowners and smaller commercial establishments to protect against the cost of repairing broken or leaking water pipes, and clogged or blocked sewer pipes inside and outside their accommodations; and offers biosolids management, transport, and disposal services to municipal and industrial customers, as well as products for cleansing water and wastewater, and wastewater residuals management services. American Water Works Company, Inc. serves approximately 14 million people with drinking water, wastewater, and other water-related services in approximately 40 states and 2 Canadian provinces. The company was founded in 1886 and is headquartered in Voorhees, New Jersey. <<<

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>>> Stericycle, Inc., together with its subsidiaries, provides regulated and compliance solutions to the healthcare and commercial businesses. The company collects and processes specialized waste for disposal services. Its regulated solutions include Steri-Safe medical waste and compliance program; Bio Systems reusable sharps containers, pharmaceutical and hazardous waste disposal, and medical safety products; and integrated waste stream solutions program. The company?s compliance solutions comprise training, consulting, inbound/outbound communications, data reporting, and other regulatory compliance services. It also offers various products and services for infection control; regulated recall and returns management services for expired or recalled products and pharmaceuticals; and Steri-Safe OSHA and HIPAA compliance, and clinical services programs. The company serves large-quantity generators of regulated waste, such as hospitals, blood banks, and pharmaceutical manufacturers; and small-quantity generators of regulated waste comprising outpatient clinics, medical and dental offices, long-term and sub-acute care facilities, veterinary offices, municipalities, and retail pharmacies. It operates integrated regulated waste management networks in the United States, Argentina, Brazil, Canada, Chile, Ireland, Japan, Mexico, Portugal, Romania, Spain, and the United Kingdom. The company was founded in 1989 and is headquartered in Lake Forest, Illinois. <<<