The 2014 All-America Research Team: Engineering & Construction, No. 1: Andrew Kaplowitz

<The 2014 All-America Research Team Andrew KaplowitzBarclaysFirst-Place Appearances: 6

Total Appearances: 6

Analyst Debut: 2009

A newcomer in 2009,Andrew Kaplowitzof Barclays notches his sixth consecutive first-place finish on this roster. “Andy knows the space very well,” observes one portfolio manager, “including the respective management teams — and his associates are helpful too.” He covers 11 U.S. construction and engineering names plus additional stocks in Machinery, where he garners a runner-up position for a third year in a row. Among the analyst’s noteworthy calls over the past year is his January downgrade of Great Lakes Dredge & Dock Corp. from equal weight to underweight. Kaplowitz deemed the shares fully valued at $9.10, given poor earnings visibility going forward and the unpredictability of securing future government contracts. By mid-September shares of the Oak Brook, Illinois–based marine services provider had slumped 23.6 percent, to $6.95, lagging their peers by 7.4 percentage points. Clients are grateful: His “knowledge and accessibility have helped us avoid some blowups,” attests another supporter. Going forward, the 41-year-old researcher prefers Fluor Corp. of Irving, Texas. This diversified heavy-construction company is a long-time favorite. Its stock advanced just 4.9 percent over the 12 months through mid-September, to $69.75, while the sector dipped 1 percent. Kaplowitz, however, remains positive, citing such catalysts as the company’s diversified global presence, strong operating margin and better-than-expected operating profit. His price objective for Fluor is $92. “Andy’s estimates are better thought out than those of other analysts, who often don’t have a real rationale behind their numbers,” concludes a third backer.