Leith Wheeler Canadian Equity (Trades, Portfolio) added five new holdings to its portfolio in the second quarter.
The largest addition was the purchase of 463,173 shares in Waste Connections Inc. (TSX:WCN, Financial), a company based in The Woodlands, Texas, that provides solid waste collection, transfer, disposal and recycling services, for an average price of 91.91 Canadian dollars ($70.13 in U.S. currency) per share. The acquisition had a 1.8% impact on the portfolio.
Waste Connections reported an increase in revenue of nearly 37% in the second quarter compared to the second quarter of 2015, most of which was attributed to its merger with Progressive Waste Solutions (BIN, Financial).
The holding is 0.26% of Waste Connections’ outstanding shares and 1.8% of the fund’s total assets. The fund is Waste Connections’ only shareholder among the gurus.
Waste Connections has a price-book (P/B) ratio of 1.69 and a price-sales (P/S) ratio of 4.24. GuruFocus gives Waste Connections a Financial Strength rating of 4/10 and a Profitability and Growth rating of 7/10 with return on equity (ROE) of -4.82% that is lower than 67% of the companies in the Global Waste Management industry and return on assets (ROA) of -2.11% that is lower than 65% of the companies in that industry.
Waste Connections sold for CA$100.06 per share at market close Thursday. The DCF Calculator gives Waste Connections a fair value of CA$-15.66.
The fund invested in 146,300 shares in Boardwalk Real Estate Investment Trust (TSX:BEI.UN, Financial), a Calgary, Alberta-based REIT, for an average price of CA$50.1 per share. The transaction had a 0.35% impact on the portfolio.
The holding is 0.29% of Boardwalk’s outstanding shares and 0.35% of the fund’s total assets. The fund is Boardwalk’s only shareholder among the gurus.
Boardwalk has a forward price-earnings (P/E) ratio of 11.9, a P/B of 0.8 and a P/S of 5.3. GuruFocus gives Boardwalk a Financial Strength rating of 5/10 and a Profitability and Growth rating of 7/10, with ROE of -0.44% that is lower than 84% of the companies in the Global REIT – Residential industry and ROA of -0.25% that is lower than 85% of the companies in that industry.
Boardwalk Real Estate Investment Trust sold for CA$50.39 per share Thursday. The DCF Calculator gives Boardwalk a fair value of CA$-2.89.
The fund bought 64,300 shares in Onex Corp. (TSX:OCX, Financial), a Toronto-based investment firm, for an average price of CA$78.54 per share. The purchase had a 0.21% impact on the portfolio.
The holding is 0.06% of Onex’s outstanding shares and 0.21% of the fund’s total assets. Mawer Canadian Equity Fund (Trades, Portfolio) is Onex’s leading shareholder among the gurus with 740,897 shares in its portfolio. The holding is 0.72% of Onex’s outstanding shares and 2.83% of Mawer’s total assets.
Onex has a forward P/E of 1250 and a P/S of 0.3. GuruFocus gives Onex a Financial Strength rating of 4/10 and a Profitability and Growth rating of 7/10, with ROA of -0.13% that is higher than 53% of the companies in the Global Conglomerates industry.
Onex sold for CA$80.09 per share Thursday. The DCF Calculator gives Onex a fair value of CA$-112.67.
The fund purchased 216,000 shares in Stingray Digital Group Inc. (TSX:RAY.B, Financial), a Montreal-based media and entertainment company, for an average price of CA$7.1 per share. The deal had a 0.06% impact on the portfolio.
The holding is 0.42% of Stingray Digital Group’s outstanding shares and 0.06% of the fund’s total assets. The fund is Stingray’s only shareholder among the gurus.
Stingray Digital has a P/E of 19.6, a forward P/E of 14.9, a P/B of 3.7 and a P/S of 3.6. GuruFocus gives Stingray Digital a Financial Strength rating of 6/10 and a Profitability and Growth rating of 4/10, with ROE of 20.21% that is higher than 84% of the companies in the Global Media – Diversified industry and ROA of 10.93% that is higher than 86% of the companies in that industry.
Stingray Digital sold for CA$7.02 per share Thursday. The DCF Calculator gives Stingray Digital a fair value of CA$3.64.
The fund invested in 38,364 shares in Brookfield Business Partners LP (TSX:BBU.UN), a Canadian business services and industrial company, for an average price of CA$29.63 per share. The transaction had a 0.04% impact on the portfolio.
The holding is 0.09% of Brookfield’s outstanding shares and 0.04% of the fund’s total assets. Brookfield’s leading shareholder among the gurus is Mawer Canadian Equity Fund (Trades, Portfolio) with 44,775 shares in its portfolio. The holding is 0.1% of Brookfield’s outstanding shares and 0.05% of Mawer’s total assets.
Brookfield has a P/B of 0.5 and a P/S of 0.2. GuruFocus gives Brookfield a Financial Strength rating of 5/10 and a Profitability and Growth rating of 3/10, with ROE of -8.35% and ROA of -0.16% that are lower than 100% of the companies in the Global industry.
Brookfield sold for CA$30.02 per share Thursday. The DCF Calculator gives Brookfield a fair value of -41 cents in Canadian dollars.
Disclosure: I do not own any stocks mentioned in this article.
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