Invesco Ltd. decreased its position in shares of Shaw Communications Inc. (NYSE:SJR) (TSE:SJR.B) by 37.6% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 559,256 shares of the company’s stock after selling 337,592 shares during the quarter. Invesco Ltd. owned approximately 0.12% of Shaw Communications worth $16,174,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Toronto Dominion Bank lifted its stake in Shaw Communications by 1.1% in the 2nd quarter. Toronto Dominion Bank now owns 9,809,287 shares of the company’s stock worth $382,284,000 after purchasing an additional 105,283 shares in the last quarter. Morgan Stanley lifted its stake in Shaw Communications by 51.2% in the 2nd quarter. Morgan Stanley now owns 7,553,999 shares of the company’s stock worth $218,461,000 after purchasing an additional 2,558,385 shares in the last quarter. Baupost Group LLC MA purchased a new stake in Shaw Communications in the 2nd quarter worth $218,125,000. 1832 Asset Management L.P. lifted its stake in Shaw Communications by 4.9% in the 2nd quarter. 1832 Asset Management L.P. now owns 6,227,397 shares of the company’s stock worth $179,364,000 after purchasing an additional 289,613 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Shaw Communications by 34.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 5,393,896 shares of the company’s stock worth $155,990,000 after purchasing an additional 1,383,244 shares in the last quarter. Institutional investors own 52.88% of the company’s stock.
SJR has been the topic of several research analyst reports. Canaccord Genuity cut shares of Shaw Communications from a “buy” rating to a “hold” rating and set a $40.50 price target on the stock. in a research note on Tuesday, September 7th. Royal Bank of Canada upgraded shares of Shaw Communications from a “sector perform” rating to an “outperform” rating in a report on Monday, November 8th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Shaw Communications has a consensus rating of “Buy” and an average price target of $35.42.
Shaw Communications (NYSE:SJR) (TSE:SJR.B) last issued its quarterly earnings results on Thursday, October 28th. The company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.27 by $0.23. The company had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.39 billion. Shaw Communications had a net margin of 18.03% and a return on equity of 16.46%. The firm’s revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.26 EPS. As a group, sell-side analysts expect that Shaw Communications Inc. will post 1.26 earnings per share for the current fiscal year.
The company also recently declared a monthly dividend, which will be paid on Friday, February 25th. Investors of record on Tuesday, February 15th will be issued a dividend of $0.0801 per share. The ex-dividend date of this dividend is Monday, February 14th. This represents a $0.96 annualized dividend and a yield of 3.30%. Shaw Communications’s payout ratio is 62.34%.
Shaw Communications Profile
Shaw Communications, Inc engages in the provision of cable telecommunications and satellite video services. The company was founded by James Robert Shaw on December 9, 1966 and is headquartered in Calgary, Canada.
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