Scheer, Rowlett & Associates Investment Management Ltd. 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.
Scheer, Rowlett & Associates Investment Management Ltd. is an investment management firm based out of Toronto, Ohio. The curent company was originally established in 1998 by a group of investment professionals, of which Lloyd Rowlett is still with the company acting as its President and leading portfolio manager, and has grown from its inception to now operate with 25 total employees of which 17 are investment professionals. Scheer, Rowlett & Associates Investment Management conducts its research internally, utilizing a fundamental methodology to make its investment decisions. The firm specializes in “managing Canadian equity and balanced portfolios for pension plans, mutual funds, corporations, foundations, endowments and high net worth investors.” The company invests with a focus on the value stocks of companies, allocating its assets in the public equity markets within Canada through a bottom up stock selection process. Scheer, Rowlett & Associates Investment Management invests most heavily in the finance sector, which alone makes up almost half of the firm’s total asset allocations and also invests in the energy, materials, consumer discretionary, and transports sectors, among other sectors to a lesser degree, in order of decreasing allocation. The company holds its allocations for just over 20 quarters on average and holds its top 10 allocations for just under 22 quarters on average. In the most recent quarter, Scheer, Rowlett & Associates Investment Management has had a turnover rate of approximately 6.9%. The firm’s top holdings include the Bank of Nova Scotia ADR, The Canadian Imperial Bank of Commerce, Canadian National Railway Company, the Royal Bank of Canada, and the Toronto Dominion Bank, in order of decreasing allocations. Scheer, Rowlett & Associates Investment Management was originally established as the Crown Life Investment Management Inc. before changing its name to its current one and was established by the Crown Life Insurance Company.
As of the latest 13F report, the guru’s equity portfolio contained 31 stocks valued at a total of $1.20Bil. The top holdings were TD(10.68%), RY(6.92%), and BNS(6.26%).
According to GuruFocus data, these were Scheer, Rowlett & Associates Investment Management Ltd.’s top five trades of the quarter.
Celestica Inc
Scheer, Rowlett & Associates Investment Management Ltd. reduced their investment in NYSE:CLS by 2,052,260 shares. The trade had a 1.56% impact on the equity portfolio. During the quarter, the stock traded for an average price of $10.51.
On 02/13/2023, Celestica Inc traded for a price of $13.39 per share and a market cap of $1.62Bil. The stock has returned 10.66% over the past year.
GuruFocus gives the company a financial strength rating of 6 out of 10 and a profitability rating of 9 out of 10.
In terms of valuation, Celestica Inc has a price-earnings ratio of 11.49, a price-book ratio of 0.95, a price-earnings-to-growth (PEG) ratio of 0.68, a EV-to-Ebitda ratio of 5.09 and a price-sales ratio of 0.23.
The price-to-GF Value ratio is 1.23, earning the stock a GF Value rank of 3.
CGI Inc
During the quarter, Scheer, Rowlett & Associates Investment Management Ltd. bought 147,553 shares of NYSE:GIB for a total holding of 377,151. The trade had a 1.06% impact on the equity portfolio. During the quarter, the stock traded for an average price of $82.40000000000001.
On 02/13/2023, CGI Inc traded for a price of $92.73999999999999 per share and a market cap of $21.95Bil. The stock has returned 7.67% over the past year.
GuruFocus gives the company a financial strength rating of 7 out of 10 and a profitability rating of 9 out of 10.
In terms of valuation, CGI Inc has a price-earnings ratio of 20.13, a price-book ratio of 3.74, a price-earnings-to-growth (PEG) ratio of 1.77, a EV-to-Ebitda ratio of 12.53 and a price-sales ratio of 2.26.
The price-to-GF Value ratio is 1.06, earning the stock a GF Value rank of 5.
Enerflex Ltd
The guru established a new position worth 1,839,729 shares in OTCPK:ENRFF, giving the stock a 0.97% weight in the equity portfolio. Shares traded for an average price of $4.8 during the quarter.
On 02/13/2023, Enerflex Ltd traded for a price of $4.56 per share and a market cap of $408.97Mil. The stock has returned -41.88% over the past year.
GuruFocus gives the company a financial strength rating of 6 out of 10 and a profitability rating of 6 out of 10.
In terms of valuation, Enerflex Ltd has a price-book ratio of 0.76, a EV-to-Ebitda ratio of 10.99 and a price-sales ratio of 0.55.
The price-to-GF Value ratio is 0.82, earning the stock a GF Value rank of 7.
Barrick Gold Corp
During the quarter, Scheer, Rowlett & Associates Investment Management Ltd. bought 559,656 shares of NYSE:GOLD for a total holding of 2,360,554. The trade had a 0.8% impact on the equity portfolio. During the quarter, the stock traded for an average price of $15.91.
On 02/13/2023, Barrick Gold Corp traded for a price of $17.93 per share and a market cap of $31.36Bil. The stock has returned -3.73% over the past year.
GuruFocus gives the company a financial strength rating of 6 out of 10 and a profitability rating of 7 out of 10.
In terms of valuation, Barrick Gold Corp has a price-earnings ratio of 17.42, a price-book ratio of 1.33, a price-earnings-to-growth (PEG) ratio of 3.23, a EV-to-Ebitda ratio of 5.08 and a price-sales ratio of 2.86.
The price-to-GF Value ratio is 1.01, earning the stock a GF Value rank of 6.
Agnico Eagle Mines Ltd
Scheer, Rowlett & Associates Investment Management Ltd. reduced their investment in NYSE:AEM by 187,944 shares. The trade had a 0.72% impact on the equity portfolio. During the quarter, the stock traded for an average price of $47.2.
On 02/13/2023, Agnico Eagle Mines Ltd traded for a price of $51.23 per share and a market cap of $23.17Bil. The stock has returned 11.95% over the past year.
GuruFocus gives the company a financial strength rating of 7 out of 10 and a profitability rating of 8 out of 10.
In terms of valuation, Agnico Eagle Mines Ltd has a price-earnings ratio of 36.48, a price-book ratio of 1.45, a price-earnings-to-growth (PEG) ratio of 2.45, a EV-to-Ebitda ratio of 11.91 and a price-sales ratio of 3.85.
The price-to-GF Value ratio is 1.01, earning the stock a GF Value rank of 6.
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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