John Mirshekari, Fund Manager for Fidelity

Investments, Recommends URS

John Mirshekari, a fund manager for Fidelity Investments, has recommended shares of URS (URS). This engineering and construction contractor is one of the largest, most diverse companies in the world.

This is a good business that’s undervalued due to poor capital allocation historically and a lack of trust in return of capital. Conditions are in place to repurchase stock, and the stock has a chance to double in the next two years.

Professional Career

John Mirshekari is a fund manager at Fidelity who runs a sleeve that picks industrial stocks. He focuses on companies that have an abundance of capital and repurchase large amounts of their stock. He thinks that management incentives are a major factor in driving capital allocation decisions, and inflection points where these incentives change can create opportunities for excellent returns. His strategy also includes a global component. He is one of five comanagers who run discrete sleeves that make up 5% of the fund. The others are Morgen Peck, who covers tech and telecom; Shadman Riaz, who concentrates on energy and materials; Jamie Harmon, who specializes in financials; and Kathy Buck, who has run a diversified sleeve since 2011. Sign up for free to see all of the information on this professional.