A: There is probably a bit left in Emeco (EHL), Australia’s largest heavy earthmoving equipment solutions provider. It has been on a good run following the delivery of a solid first half year and actions taken to strengthen its balance sheet.

The two major brokers who cover it, Macquarie and Morgans, have “buys”, but their consensus target price of $1.31 is only 4% higher than the last ASX price. It is cheap on multiples, but no dividends are expected. Emeco has said that some form of capital management programme (potentially an off-market buyback) will be announced with its full year result in August.