Highstreet Asset Management Inc. grew its holdings in Shaw Communications Inc. (NYSE:SJR) (TSE:SJR.B) by 1.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 524,427 shares of the company’s stock after buying an additional 7,532 shares during the period. Shaw Communications accounts for about 1.2% of Highstreet Asset Management Inc.’s portfolio, making the stock its 21st biggest holding. Highstreet Asset Management Inc. owned approximately 0.11% of Shaw Communications worth $12,071,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. OMERS ADMINISTRATION Corp acquired a new stake in shares of Shaw Communications in the second quarter valued at approximately $2,283,000. Mawer Investment Management Ltd. lifted its position in shares of Shaw Communications by 1.4% in the second quarter. Mawer Investment Management Ltd. now owns 9,508,434 shares of the company’s stock valued at $207,499,000 after buying an additional 133,961 shares during the last quarter. State of Wisconsin Investment Board lifted its position in shares of Shaw Communications by 1.4% in the second quarter. State of Wisconsin Investment Board now owns 309,225 shares of the company’s stock valued at $6,736,000 after buying an additional 4,412 shares during the last quarter. Marshall Wace North America L.P. lifted its position in shares of Shaw Communications by 31.7% in the second quarter. Marshall Wace North America L.P. now owns 31,715 shares of the company’s stock valued at $698,000 after buying an additional 7,639 shares during the last quarter. Finally, Eqis Capital Management Inc. lifted its position in shares of Shaw Communications by 18.9% in the third quarter. Eqis Capital Management Inc. now owns 24,934 shares of the company’s stock valued at $574,000 after buying an additional 3,959 shares during the last quarter. 51.92% of the stock is owned by institutional investors.
A number of research firms have recently issued reports on SJR. Zacks Investment Research cut Shaw Communications from a “buy” rating to a “hold” rating in a research report on Tuesday, October 10th. BidaskClub raised Shaw Communications from a “sell” rating to a “hold” rating in a research report on Tuesday, August 22nd. Scotiabank cut Shaw Communications from an “outperform” rating to a “sector perform” rating in a research report on Thursday, October 12th. Finally, Barclays PLC raised their price objective on Shaw Communications from $21.00 to $22.00 and gave the company an “equal weight” rating in a research report on Friday. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $27.29.
Shares of Shaw Communications Inc. (SJR) opened at 22.07 on Friday. The company’s 50-day moving average price is $22.52 and its 200 day moving average price is $21.96. Shaw Communications Inc. has a 12-month low of $19.02 and a 12-month high of $23.31. The firm has a market capitalization of $10.89 billion, a PE ratio of 25.60 and a beta of 0.91.
The company also recently disclosed a monthly dividend, which will be paid on Tuesday, February 27th. Investors of record on Thursday, February 15th will be paid a $0.0781 dividend. The ex-dividend date is Wednesday, February 14th. This represents a $0.94 annualized dividend and a yield of 4.25%. Shaw Communications’s payout ratio is 71.43%.
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Shaw Communications Company Profile
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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