Mn Services Vermogensbeheer B.V. bought a new stake in Shaw Communications Inc. (NYSE:SJR) (TSE:SJR.B) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 67,965 shares of the company’s stock, valued at approximately $1,481,000.
A number of other hedge funds have also recently modified their holdings of the company. Acadian Asset Management LLC raised its stake in shares of Shaw Communications by 87.7% in the first quarter. Acadian Asset Management LLC now owns 1,787,996 shares of the company’s stock valued at $36,961,000 after buying an additional 835,355 shares in the last quarter. Parnassus Investments CA raised its stake in shares of Shaw Communications by 27.2% in the first quarter. Parnassus Investments CA now owns 3,275,000 shares of the company’s stock valued at $67,858,000 after buying an additional 700,000 shares in the last quarter. Lincluden Management Ltd. raised its stake in shares of Shaw Communications by 73.1% in the fourth quarter. Lincluden Management Ltd. now owns 1,650,435 shares of the company’s stock valued at $33,080,000 after buying an additional 696,994 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Shaw Communications by 62.0% in the first quarter. Renaissance Technologies LLC now owns 1,562,400 shares of the company’s stock valued at $32,394,000 after buying an additional 598,100 shares in the last quarter. Finally, Karp Capital Management Corp purchased a new stake in shares of Shaw Communications during the first quarter valued at about $12,234,000. 53.35% of the stock is owned by institutional investors and hedge funds.
Shaw Communications Inc. (NYSE:SJR) remained flat at $21.92 during mid-day trading on Friday. 555,115 shares of the company traded hands. The firm has a 50 day moving average of $21.89 and a 200-day moving average of $21.44. Shaw Communications Inc. has a 1-year low of $19.02 and a 1-year high of $23.31. The company has a market cap of $10.81 billion, a PE ratio of 26.57 and a beta of 0.91.
The business also recently disclosed a monthly dividend, which will be paid on Wednesday, November 29th. Investors of record on Wednesday, November 15th will be paid a dividend of $0.0744 per share. This represents a $0.89 dividend on an annualized basis and a dividend yield of 4.08%. The ex-dividend date is Tuesday, November 14th. Shaw Communications’s dividend payout ratio (DPR) is currently 118.75%.
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SJR has been the subject of several research reports. Canaccord Genuity set a $28.00 target price on Shaw Communications and gave the stock a “hold” rating in a research note on Monday, May 1st. National Bank Financial lowered Shaw Communications from an “outperform market weight” rating to a “sector perform market weight” rating in a research note on Wednesday, June 28th. BidaskClub lowered Shaw Communications from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Finally, Zacks Investment Research raised Shaw Communications from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a research note on Thursday, June 15th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $27.00.
About Shaw Communications
Shaw Communications Inc (Shaw) is a diversified connectivity provider. The Company operates through four divisions: Consumer, Wireless, Business Network Services and Business Infrastructure Services. Under the Consumer division, the Company offers Cable telecommunications and Satellite video services to residential customers.
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