SCOTIA CAPITAL INC. recently filed their 13F report for the fourth quarter of 2022, which ended on 2022-12-31.
The 13F report details which stocks were in a guru’s equity portfolio at the end of the quarter, though investors should note that these filings are limited in scope, containing only a snapshot of long positions in U.S.-listed stocks and American depository receipts as of the quarter’s end. They are not required to include international holdings, short positions or other types of investments. Still, even this limited filing can provide valuable information.
Scotia Capital Inc. is an investment banking firm based out of Toronto, Ontario. The company was established in 1999 and acts as the investment management arm of The Bank of Nova Scotia. Scotia Capital can trace its history back to 1832, when the Bank of Nova Scotia was established. The bank would then acquire McLeod Young Weir, a leading brokerage firm also based out of Toronto, in 1921. This acquired company would then be renamed ScotiaMcLeod and be formally integrated with the capital markets business of The Bank of Nova Scotia under the name Scotia Capital Markets. This integrated Scotia Capital markets business would be merged with The Bank of Nova Scotia's Corporate Banking business, forming the current Scotia Market. The Bank of Nova Scotia would continue to acquire companies to fuel its growth, including Grupo Financiero Inverlat S.A. and Waterous & Co. Scotia Capital Inc. would then be rebranded under the Global Banking and Markets name, which the company currently operates under, to “better reflect the growing international reach of the Corporate and Investment Banking and Capital Markets businesses, and to better align with the Bank’s other business lines.” Scotia Capital, operating under Global Banking and Markets, now has over 30 offices located around the world with over 300 relationship managers organizing various industry specialties. Its line of businesses includes corporate banking, global equity and advisory, fixed income currencies and commodities, and global financial institutions and transaction banking. Global Banking and Markets invests most heavily in the finance sector, which alone makes up over a third of its total asset allocations, and also invests in the energy, health care, information technology, consumer discretionary, and utilities and telecommunications sectors, among others to a lesser degree, in order of decreasing allocation. The company’s top 10 holdings make up over a third of its total holdings and the company has a turnover rate of approximately 30.4%.
As of the latest 13F report, the guru’s equity portfolio contained 783 stocks valued at a total of $13.01Bil. The top holdings were RY(5.88%), TD(4.99%), and BNS(4.77%).
According to GuruFocus data, these were SCOTIA CAPITAL INC.’s top five trades of the quarter.
Brookfield Asset Management Ltd
The guru established a new position worth 1,465,648 shares in NYSE:BAM, giving the stock a 0.32% weight in the equity portfolio. Shares traded for an average price of $30.09 during the quarter.
On 02/10/2023, Brookfield Asset Management Ltd traded for a price of $34.93 per share and a market cap of $14.44Bil. The stock has returned 0.00% over the past year.
GuruFocus gives the company a financial strength rating of 5 out of 10 and a profitability rating of 1 out of 10.
In terms of valuation, Brookfield Asset Management Ltd has a price-earnings ratio of 27.06, a price-book ratio of 1.50, a EV-to-Ebitda ratio of 7.46 and a price-sales ratio of 16.98.
Sandstorm Gold Ltd
SCOTIA CAPITAL INC. reduced their investment in NYSE:SAND by 4,721,001 shares. The trade had a 0.26% impact on the equity portfolio. During the quarter, the stock traded for an average price of $5.11.
On 02/10/2023, Sandstorm Gold Ltd traded for a price of $5.3 per share and a market cap of $1.58Bil. The stock has returned -13.12% over the past year.
GuruFocus gives the company a financial strength rating of 5 out of 10 and a profitability rating of 7 out of 10.
In terms of valuation, Sandstorm Gold Ltd has a price-earnings ratio of 12.62, a price-book ratio of 1.20, a price-earnings-to-growth (PEG) ratio of 5.74, a EV-to-Ebitda ratio of 13.67 and a price-sales ratio of 8.16.
The price-to-GF Value ratio is 0.61, earning the stock a GF Value rank of 8.
Fortis Inc
During the quarter, SCOTIA CAPITAL INC. bought 509,611 shares of NYSE:FTS for a total holding of 7,131,302. The trade had a 0.16% impact on the equity portfolio. During the quarter, the stock traded for an average price of $39.19.
On 02/10/2023, Fortis Inc traded for a price of $39.82 per share and a market cap of $19.15Bil. The stock has returned -12.26% over the past year.
GuruFocus gives the company a financial strength rating of 3 out of 10 and a profitability rating of 7 out of 10.
In terms of valuation, Fortis Inc has a price-earnings ratio of 19.01, a price-book ratio of 1.32, a price-earnings-to-growth (PEG) ratio of 12.67, a EV-to-Ebitda ratio of 12.31 and a price-sales ratio of 2.49.
The price-to-GF Value ratio is 0.94, earning the stock a GF Value rank of 7.
BCE Inc
During the quarter, SCOTIA CAPITAL INC. bought 427,359 shares of NYSE:BCE for a total holding of 7,822,954. The trade had a 0.14% impact on the equity portfolio. During the quarter, the stock traded for an average price of $45.03.
On 02/10/2023, BCE Inc traded for a price of $45.06 per share and a market cap of $41.14Bil. The stock has returned -9.19% over the past year.
GuruFocus gives the company a financial strength rating of 4 out of 10 and a profitability rating of 8 out of 10.
In terms of valuation, BCE Inc has a price-earnings ratio of 19.72, a price-book ratio of 3.02, a price-earnings-to-growth (PEG) ratio of 17.93, a EV-to-Ebitda ratio of 9.15 and a price-sales ratio of 2.28.
The price-to-GF Value ratio is 0.97, earning the stock a GF Value rank of 6.
TC Energy Corp
During the quarter, SCOTIA CAPITAL INC. bought 377,575 shares of NYSE:TRP for a total holding of 5,988,614. The trade had a 0.12% impact on the equity portfolio. During the quarter, the stock traded for an average price of $43.37.
On 02/10/2023, TC Energy Corp traded for a price of $40.91 per share and a market cap of $40.97Bil. The stock has returned -16.02% over the past year.
GuruFocus gives the company a financial strength rating of 3 out of 10 and a profitability rating of 7 out of 10.
In terms of valuation, TC Energy Corp has a price-earnings ratio of 16.31, a price-book ratio of 1.67, a price-earnings-to-growth (PEG) ratio of 2.67, a EV-to-Ebitda ratio of 12.16 and a price-sales ratio of 3.75.
The price-to-GF Value ratio is 0.90, earning the stock a GF Value rank of 9.
Please note, the numbers and facts quoted are as of the writing of this article and may not factor in the latest trading data or company announcements.
When GuruFocus covers insider information, we only track open market or the private purchase and sale of common stock with the transaction code of P or S. Therefore, all the transactions mentioned in this article are only the ones with transaction code of P or S.
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