Core Insights - VINCI Construction Grands Projets has been awarded a €144 million contract by Jamaica's National Water Commission to enhance the drinking water network as part of the Western Water Resilience Programme [2][3][8] - The project aims to improve climate resilience in Jamaica by renovating the water supply network and reducing water loss, particularly in areas experiencing demographic growth and expanding industries [2][4] Project Details - The contract involves the design and construction of 68 km of wide cast-iron pipeline, extending nearly 130 km along existing roadways and sensitive zones [3] - The project is scheduled to last 36 months and will mobilize over 100 personnel [3] - The materials used are expected to enhance the network's durability, with a useful life exceeding 50 years [4] Collaboration and Impact - VINCI will work closely with the National Environment and Planning Agency (NEPA) to protect natural habitats during construction, especially when crossing rivers [4] - VINCI has been operating in Jamaica since 1999, contributing to the development of effective infrastructure for drinking water and wastewater treatment [5]

Core Insights - Pzena Focused Value Strategy underperformed the Russell 1000® Value Index in Q4 2025, with a net return of 2.5% compared to the Index's 3.8% [1] - The current market environment is seen as favorable for long-term value investors due to appealing valuation differences [1] Company Highlights - Dollar General Corporation (NYSE:DG) was a leading contributor to Pzena Focused Value Strategy, with a one-month return of 3.24% and a 52-week gain of 100.69% [2] - As of January 30, 2026, Dollar General's stock closed at $143.43 per share, with a market capitalization of $31.572 billion [2] - The company experienced strong same-store sales and margin improvement, leading to an earnings beat, as higher-end customers shifted to discount retail [3] Sector Performance - Consumer discretionary, financials, and consumer staples were the largest contributing sectors during Q4 2025, with Dollar General being the largest individual contributor [3]

Core Viewpoint - Dollar General Corporation has seen significant institutional investment growth, with AlphaQuest LLC increasing its holdings by 2,008.1% in the third quarter, indicating strong confidence in the company's future performance [2]. Institutional Holdings - AlphaQuest LLC owned 19,036 shares of Dollar General after purchasing an additional 18,133 shares, valued at $1,967,000 [2]. - Accurate Wealth Management LLC increased its stake by 1.2%, owning 9,182 shares valued at $952,000 after buying 108 additional shares [3]. - Blue Trust Inc. boosted its holdings by 5.8%, now owning 2,005 shares valued at $229,000 after acquiring 110 shares [3]. - Stablepoint Partners LLC increased its holdings by 0.6%, owning 17,474 shares valued at $1,999,000 after buying 110 shares [3]. - Tectonic Advisors LLC raised its holdings by 1.9%, now owning 6,037 shares worth $691,000 after purchasing 113 shares [3]. - Wedmont Private Capital lifted its stake by 2.1%, owning 5,810 shares valued at $560,000 after acquiring 118 shares [3]. - Institutional investors and hedge funds collectively own 91.77% of Dollar General's stock [3]. Stock Performance - Dollar General stock opened at $143.42, with a market cap of $31.57 billion, a PE ratio of 24.77, and a P/E/G ratio of 2.57 [4]. - The stock has a 12-month low of $69.32 and a high of $154.75, with a 50-day moving average price of $134.45 and a 200-day moving average price of $115.83 [4]. Financial Performance - Dollar General reported $1.28 earnings per share for the quarter, exceeding analysts' estimates of $0.95 by $0.33 [5]. - The company had revenue of $10.65 billion for the quarter, slightly above analyst estimates of $10.60 billion, with a year-over-year revenue increase of 4.6% [5]. - The return on equity was 18.59%, and the net margin was 3.03% [5]. - The company has set its FY 2025 guidance at 6.300-6.500 EPS, with analysts expecting 5.75 EPS for the current fiscal year [5]. Dividend Information - Dollar General declared a quarterly dividend of $0.59 per share, representing an annualized dividend of $2.36 and a yield of 1.6% [6]. - The payout ratio stands at 40.76% [6]. Analyst Ratings - Argus raised its price target for Dollar General from $135.00 to $152.00, maintaining a "buy" rating [7]. - Morgan Stanley increased its price target from $135.00 to $160.00, giving an "equal weight" rating [7]. - Guggenheim raised its price objective from $125.00 to $140.00 with a "buy" rating [7]. - UBS Group lifted its target price from $135.00 to $143.00, maintaining a "buy" rating [7]. - Loop Capital increased its target price from $100.00 to $120.00, giving a "hold" rating [7]. - The consensus rating for Dollar General is "Hold" with an average price target of $141.27 [7]. Insider Activity - EVP Bryan D. Wheeler sold 9,776 shares at an average price of $135.32, totaling approximately $1.32 million, representing a 30.48% decrease in his position [9]. - CAO Anita C. Elliott sold 2,516 shares at an average price of $132.52, totaling approximately $333,420, representing a 7.90% decrease in her ownership [9]. - Insiders sold a total of 58,673 shares valued at $7.71 million in the last quarter, with insiders owning 0.56% of the company's stock [9]. Company Overview - Dollar General Corporation is a U.S.-based variety and discount retailer operating a large network of small-format stores primarily serving rural and suburban communities [10]. - Founded in 1939, Dollar General has evolved into a prominent low-price retailer focused on convenience and value [10]. - The stores offer a wide assortment of everyday consumables and household goods, including food, cleaning supplies, health and beauty products, and seasonal merchandise [11].

Market Overview - The U.S. stock market is expected to remain volatile due to investor concerns regarding the leadership of the Federal Reserve and the potential for a government shutdown [1] Investment Opportunities - Low-beta stocks such as Futu Holdings Limited (FUTU), Forum Energy Technologies Inc (FET), Dollar General Corporation (DG), and SK Telecom (SKM) are highlighted as potential investment opportunities amid market volatility [1][8] Company Insights - **Futu Holdings**: This company offers fully digitalized financial services and has been experiencing rapid growth as clients invest more, indicating increased trust from both local and international investors [6] - **Forum Energy Technologies**: Positioned to benefit from rising global energy demand, FET focuses on reducing debt and making strategic investments to strengthen its balance sheet and support long-term growth [7][8] - **Dollar General**: Known for providing affordable everyday essentials, DG is expanding its store presence and is expected to grow steadily, creating long-term wealth for shareholders [9] - **SK Telecom**: A leading mobile service provider, SKM is integrating AI into its core business operations, focusing on digital transformation and AI services to enhance long-term shareholder value [10]

Core Viewpoint - In a fluctuating market, value investments remain appealing, particularly for companies like Dollar General that provide essential goods at affordable prices, catering to budget-conscious consumers [1] Company Overview - Dollar General operates over 20,000 stores across the U.S., primarily in rural and underserved areas, which enhances its pricing power and distribution efficiency [2] - The company benefits from a stable customer base that is unlikely to switch to cheaper alternatives, especially during inflationary periods [2] Earnings Outlook - Analysts have raised earnings estimates due to improved margins, better inventory management, and stabilizing traffic trends [3] - Significant investments in private-label brands, supply chain enhancements, and store remodels are beginning to yield positive results [3] Analyst Sentiment - A total of 22 analysts have increased their earnings estimates for both the current and next fiscal years, leading to a rise in the Zacks Consensus Estimate from $6.14 to $6.49 for the current year and from $6.68 to $7.08 for the next year [4] - Current year growth estimates are projected at 9.6%, with next year's growth at 9.1%, supported by revenue growth of 4.79% this year and 4.06% next year [4] Stock Performance - The stock has experienced significant appreciation, rising nearly 50% from under $100 to $145.04 since mid-November, driven by positive analyst sentiment and earnings outlook [5]

Core Insights - U.S. consumer sentiment has sharply declined, with the consumer confidence index dropping to 84.5 in January from 94.2 in December, marking the lowest level since 2014 [1][2] Consumer Sentiment and Economic Outlook - Persistent concerns about high living costs and limited affordability are eroding consumer optimism, compounded by rising geopolitical tensions and aggressive trade policies that amplify business uncertainty [2] - With consumer sentiment at a decade low, households may adopt a more defensive spending approach, potentially leading to softer consumer spending and impacting sales and earnings growth for consumer-facing sectors [3] Retail Sector Resilience - Despite weakening consumer confidence, companies like Dollar General, Walmart, Dollar Tree, and TJX are well-positioned to navigate a cautious consumer environment, benefiting as households prioritize essentials and seek greater value [4][8] - Dollar General's remodel strategy and digital growth are expected to support sales and earnings acceleration, while Walmart's omnichannel strength and profit mix shift are driving market share gains [6][12] Company-Specific Insights Dollar General - Dollar General is solidifying its market position through extreme value and convenience, with a focus on market share gains across consumable and non-consumable categories [6] - The Zacks Consensus Estimate for Dollar General's current financial-year sales and EPS implies growth of 4.8% and 9.6%, respectively, with a trailing four-quarter earnings surprise of 22.9% [10] Walmart - Walmart leverages its scale and diversified business model, focusing on high-growth initiatives that shift its profit mix, resulting in consistent double-digit e-commerce growth [12] - The Zacks Consensus Estimate for Walmart's current financial-year sales and EPS implies growth of 4.5% and 4.8%, respectively, with a trailing four-quarter earnings surprise of 0.8% [13] Dollar Tree - Dollar Tree is enhancing its focus as a pure-play value retailer, broadening its consumer appeal and strengthening operational discipline [15] - The Zacks Consensus Estimate for Dollar Tree's current financial-year EPS implies growth of 12.4%, with a trailing four-quarter earnings surprise of 29.1% [16] TJX Companies - TJX's off-price business model and disciplined inventory management drive consistent foot traffic and market share capture [18] - The Zacks Consensus Estimate for TJX's current financial-year sales and EPS implies growth of 6.5% and 9.6%, respectively, with a trailing four-quarter earnings surprise of 5.5% [19]

Core Viewpoint - Dollar General's stock performance has shown a recent decline, but the company is expected to report earnings that reflect a slight decrease in EPS while showing revenue growth compared to the previous year [1][2]. Company Performance - Dollar General closed at $147.66, down 1.78% from the previous trading session, underperforming the S&P 500's gain of 0.41% [1]. - The company has seen a 9.31% increase in stock price over the past month, outperforming the Retail-Wholesale sector's gain of 4.12% and the S&P 500's gain of 0.38% during the same period [1]. Earnings Estimates - The upcoming earnings report is expected to show an EPS of $1.58, which is a decrease of 5.95% from the same quarter last year [2]. - Revenue is forecasted to be $10.75 billion, indicating a growth of 4.28% compared to the corresponding quarter of the prior year [2]. - For the full year, analysts expect earnings of $6.49 per share and revenue of $42.56 billion, reflecting increases of 9.63% and 4.79% respectively from the previous year [3]. Analyst Sentiment - Recent changes in analyst estimates for Dollar General indicate a favorable outlook on the company's business health and profitability [4]. - The Zacks Rank system currently rates Dollar General as 1 (Strong Buy), suggesting a positive sentiment among analysts [6]. Valuation Metrics - Dollar General's Forward P/E ratio is 23.18, which is lower than the industry average of 29, indicating a potential valuation discount [7]. - The company's PEG ratio stands at 2.73, compared to the industry average PEG ratio of 3.15, suggesting a more favorable growth valuation [7]. Industry Context - The Retail - Discount Stores industry, to which Dollar General belongs, has a Zacks Industry Rank of 17, placing it in the top 7% of over 250 industries [8]. - Strong industry rankings correlate with better stock performance, with top-rated industries outperforming lower-rated ones by a factor of 2 to 1 [8].

Group 1 - VINCI SA conducted share buybacks from January 19 to January 23, 2026, under the authorization from the General Meeting held on April 17, 2025 [2] - A total of 554,455 shares were repurchased during this period, with an aggregated daily weighted average price of €115.9820 [2] - The transactions were executed across multiple markets, including XPAR, CEUX, AQEU, and TQEX, with varying volumes and prices each day [2][3] Group 2 - On January 19, 2026, VINCI repurchased a total of 108,960 shares across different markets, with prices ranging from €116.334254 to €116.415785 [2] - On January 20, 2026, the company bought back 152,000 shares, with a daily weighted average price of €114.720687 [2] - The highest daily volume of shares repurchased was on January 20, 2026, with 76,216 shares on XPAR [2]

Core Viewpoint - Dixie Gold Inc. successfully held its annual general and special meeting of shareholders on January 22, 2026, where all proposed matters were approved by shareholders [1]. Group 1: Meeting Outcomes - All matters presented to shareholders at the AGSM were duly approved, including director nominations [5]. - A significant Control Person cast 4,081,875 votes against the Delisting Resolution, but these votes were excluded from the tabulation for disinterested shareholders [3]. - The Delisting Resolution was approved by the majority of disinterested shareholders, although the approval does not obligate the company to pursue a delisting [4]. Group 2: Future Plans - The Corporation plans to call its next shareholder meeting in the ordinary course of business, related to its fiscal period ended December 31, 2025 [6]. Group 3: Company Overview - Dixie Gold Inc. is a junior exploration company with a portfolio of mining-related interests in Canada, listed on the TSX Venture Exchange [7].

Company Overview - Dollar General Corporation (DG) has a market cap of $32.4 billion and operates as a discount retailer in the U.S., offering a variety of consumable, seasonal, home, and apparel products across several regions including the south, southwest, midwest, and east [1] Earnings Forecast - Analysts expect Dollar General to report an EPS of $1.58 for fiscal Q4 2025, which represents a decrease of nearly 6% from $1.68 in the same quarter last year [2] - For the entire fiscal 2025, the forecasted EPS is $6.50, reflecting a 9.8% increase from $5.92 in fiscal 2024 [3] Stock Performance - Over the past 52 weeks, Dollar General shares have increased by 104.5%, significantly outperforming the S&P 500 Index's gain of 13.6% and the State Street Consumer Staples Select Sector SPDR ETF's rise of 6.5% [4] Recent Financial Results - On December 4, Dollar General shares surged over 14% following the announcement of stronger-than-expected Q3 2025 results, which included an EPS of $1.28 and net sales of $10.65 billion [5] - The company reported a 31.5% increase in operating profit and a 43.8% increase in net income, with improved margins attributed to higher inventory markups and reduced shrink [5] - Dollar General raised its full-year EPS guidance to a range of $6.30 to $6.50, along with increased expectations for net sales and same-store sales growth [5] Analyst Ratings - The consensus view among analysts on Dollar General stock is moderately optimistic, with a "Moderate Buy" rating overall [6] - Out of 30 analysts covering the stock, 13 recommend "Strong Buy," one suggests "Moderate Buy," and 16 advise "Hold" [6] - The stock is currently trading above the average analyst price target of $139.66 [6]