XAO 0.99% 8,153.7 all ordinaries

STTCOMP RWC FA LONGRELIANCE WORLDWIDESP: $3.72Market Cap...

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    STTCOMP RWC FA LONG
    RELIANCE WORLDWIDE
    SP: $3.72
    Market Cap $2.9Bn
    EV 3.25Bn
    SOI 790mil
    Cash in Hand 72 mill

    Another infrastructure company. OK, yes, this is a large cap. But the analysis I've conducted tells me its completely undervalued. Look at the amount of trades major instos have been making with this stock for a year now. That last trade by Paradice Management (60 mill) looks to me like they've pushed the SP around enough that it's growth time again. Even Goldman's has a price target still in place for $5.50 (not that I take that into much consideration). But their reach is so wide that many of their products are in the 'bread and butter' category - i.e. no matter the global 'headwinds' companies and people in general still need their products. So this is definitely a med-term hold for me. Below is a copy and pasted outline of what they do, and below that is the trading large instos have carried out over the past 11 months. Also, chart-wise, they just broke the 50 day MA..

    Reliance Worldwide Corporation Limited, together with its subsidiaries, designs, manufactures, and supplies water flow and control systems, and plumbing solutions for domestic, commercial, and industrial applications. It primarily offers push-fit plumbing fittings under the SharkBite name; water control valves, including thermostatic mixing valves, combination non-return and isolating valves, pressure and temperature relief valves, and expansion control valves under the RMC brand; water safety valves under the Cash Acme name; and water control devices under the Reliance Water Controls name. The company also provides a range of water meters for hot and cold water applications under the RMC brand; backflow prevention devices, such as hose connection vacuum breakers, dual check valves, vented dual checks, and atmospheric vacuum breakers under the Cash Acme name; industrial products comprising compression fittings, couplings, adaptors, and ball valves under the TubeFit name for industrial-grade plumbing and gas line applications; and industrial fittings under the Titon brand. In addition, it offers custom forged products, including building products, water meter bodies, and other custom forgings; custom extrusions; brass plumbing fittings; fire plumbing products, such as hydrant valves, boosters, standpipes, and couplings; and water, smoke, and firestop systems. Further, the company provides underfloor heating components and kit systems, industrial pneumatic and hydraulic fittings, water mains connection fittings, and repair sleeves and fire safety system products. It has operations in Australia, New Zealand, Korea, China, the United States, Canada, the United Kingdom, Spain, Italy, Germany, France, the Czech Republic, and Poland. Reliance Worldwide Corporation Limited was founded in 1949 and is headquartered in Atlanta, Georgia.

    https://hotcopper.com.au/data/attachments/1660/1660475-54462ce9dd359bd868404167f5750651.jpg
 
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