Beutel, Goodman & Co 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.
Beutel, Goodman & Co Ltd. is a Canadian private investment management firm. The company was founded in 1967 and is currently based out of Toronto. The founders of the company focused on “value oriented investments identified through comprehensive internally generated research,” which would establish the foundational principals that the company operates on today. Beutel, Goodman & Co focuses on “delivering enhanced risk-adjusted long term performance through the consistent application of our investment philosophy.” The company conducts its research in house and utilizes a fundamental analysis with a bottom up investment approach to make its asset allocations. The company currently invests most heavily in the finance sector, which alone makes up over 40% of its total asset allocations, and also invests in the consumer discretionary, energy, transports, utilities and telecommunications, information technology, and real estate sectors, among others to a lesser degree, in order of decreasing amount allocated. Beutel, Goodman & Co employs 76 people and currently has over $36 billion in total assets under management spread across 670 accounts, with all of these accounts being discretionary except for 10, which makes up approximately $1.3 billion of its held assets. Although the company’s total number of accounts has not significantly changed from its amount five years prior, its total assets under management has grown significantly, increasing from $11 billion to well over three times that amount today. Beutel, Goodman & Co caters to a variety of clients including pooled investment vehicles, which makes up almost half of its client base alone, pension and profit sharing plans, insurance companies, individuals, high net worth individuals, banking or thrift institutions, charities, investment companies, and others, in order of decreasing clientele. The company’s Beutel Goodman Managed Funds family of mutual funds includes a variety of funds including its Fundamental Canadian Equity, American Equity, Balanced, Corporate/Provincial Active Bond, Income, Long Term Bond, and World Focus Equity funds, among others.
As of the latest 13F report, the guru’s equity portfolio contained 76 stocks valued at a total of $16.52Bil. The top holdings were RY(6.23%), TD(5.25%), and QSR(3.36%).
According to GuruFocus data, these were Beutel, Goodman & Co Ltd.’s top five trades of the quarter.
Merck & Co Inc
Beutel, Goodman & Co Ltd. reduced their investment in NYSE:MRK by 1,326,189 shares. The trade had a 0.77% impact on the equity portfolio. During the quarter, the stock traded for an average price of $102.22.
On 02/18/2023, Merck & Co Inc traded for a price of $109.52 per share and a market cap of $277.68Bil. The stock has returned 46.86% 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, Merck & Co Inc has a price-earnings ratio of 19.18, a price-book ratio of 6.24, a price-earnings-to-growth (PEG) ratio of 2.52, a EV-to-Ebitda ratio of 14.34 and a price-sales ratio of 4.68.
The price-to-GF Value ratio is 1.02, earning the stock a GF Value rank of 5.
Qualcomm Inc
During the quarter, Beutel, Goodman & Co Ltd. bought 1,045,733 shares of NAS:QCOM for a total holding of 1,960,124. The trade had a 0.6899999999999999% impact on the equity portfolio. During the quarter, the stock traded for an average price of $117.
On 02/18/2023, Qualcomm Inc traded for a price of $127.72 per share and a market cap of $142.41Bil. The stock has returned -21.72% 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, Qualcomm Inc has a price-earnings ratio of 12.32, a price-book ratio of 7.58, a price-earnings-to-growth (PEG) ratio of 0.28, a EV-to-Ebitda ratio of 9.75 and a price-sales ratio of 3.37.
The price-to-GF Value ratio is 0.69, earning the stock a GF Value rank of 10.
Brookfield Asset Management Ltd
The guru established a new position worth 3,182,379 shares in NYSE:BAM, giving the stock a 0.55% weight in the equity portfolio. Shares traded for an average price of $30.09 during the quarter.
On 02/18/2023, Brookfield Asset Management Ltd traded for a price of $35.1 per share and a market cap of $14.55Bil. The stock has returned 0.00% over the past year.
GuruFocus gives the company a financial strength rating of 8 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 27.19, a price-book ratio of 1.51, a EV-to-Ebitda ratio of 7.65 and a price-sales ratio of 7.19.
Ameriprise Financial Inc
Beutel, Goodman & Co Ltd. reduced their investment in NYSE:AMP by 313,825 shares. The trade had a 0.54% impact on the equity portfolio. During the quarter, the stock traded for an average price of $305.01.
On 02/18/2023, Ameriprise Financial Inc traded for a price of $351.48 per share and a market cap of $37.01Bil. The stock has returned 19.07% over the past year.
GuruFocus gives the company a financial strength rating of 5 out of 10 and a profitability rating of 8 out of 10.
In terms of valuation, Ameriprise Financial Inc has a price-earnings ratio of 15.66, a price-book ratio of 10.24, a price-earnings-to-growth (PEG) ratio of 1.13, a EV-to-Ebitda ratio of 10.41 and a price-sales ratio of 2.81.
The price-to-GF Value ratio is 1.19, earning the stock a GF Value rank of 3.
Masco Corp
During the quarter, Beutel, Goodman & Co Ltd. bought 1,911,987 shares of NYSE:MAS for a total holding of 4,312,081. The trade had a 0.54% impact on the equity portfolio. During the quarter, the stock traded for an average price of $48.19.
On 02/18/2023, Masco Corp traded for a price of $55.03 per share and a market cap of $12.39Bil. The stock has returned -2.86% over the past year.
GuruFocus gives the company a financial strength rating of 5 out of 10 and a profitability rating of 9 out of 10.
In terms of valuation, Masco Corp has a price-earnings ratio of 15.16, a price-earnings-to-growth (PEG) ratio of 1.49, a EV-to-Ebitda ratio of 11.96 and a price-sales ratio of 1.49.
The price-to-GF Value ratio is 0.76, earning the stock a GF Value rank of 10.
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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