Shaw Communications Inc (SJR) Position Lessened by Forward Management LLC
Forward Management LLC decreased its position in shares of Shaw Communications Inc (NYSE:SJR) (TSE:SJR.B) by 9.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 126,953 shares of the company’s stock after selling 12,944 shares during the quarter. Forward Management LLC’s holdings in Shaw Communications were worth $2,899,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Eqis Capital Management Inc. lifted its stake in shares of Shaw Communications by 49.8% during the fourth quarter. Eqis Capital Management Inc. now owns 37,354 shares of the company’s stock valued at $853,000 after buying an additional 12,420 shares during the period. USS Investment Management Ltd raised its stake in Shaw Communications by 12.2% during the third quarter. USS Investment Management Ltd now owns 332,309 shares of the company’s stock worth $7,655,000 after purchasing an additional 36,200 shares during the period. JPMorgan Chase & Co. raised its stake in Shaw Communications by 3.4% during the third quarter. JPMorgan Chase & Co. now owns 1,217,477 shares of the company’s stock worth $28,111,000 after purchasing an additional 39,620 shares during the period. Intact Investment Management Inc. raised its stake in Shaw Communications by 50.2% during the third quarter. Intact Investment Management Inc. now owns 974,000 shares of the company’s stock worth $27,943,000 after purchasing an additional 325,600 shares during the period. Finally, Crossmark Global Holdings Inc. purchased a new position in Shaw Communications during the third quarter worth approximately $1,689,000. 52.52% of the stock is currently owned by institutional investors and hedge funds.
Shaw Communications Inc (NYSE:SJR) opened at $21.10 on Friday. Shaw Communications Inc has a one year low of $20.13 and a one year high of $23.44. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.66 and a current ratio of 0.76. The firm has a market cap of $10,329.57, a P/E ratio of 15.29, a price-to-earnings-growth ratio of 4.56 and a beta of 0.88.
The firm also recently announced a monthly dividend, which will be paid on Friday, April 27th. Stockholders of record on Friday, April 13th will be paid a $0.0795 dividend. This represents a $0.95 dividend on an annualized basis and a dividend yield of 4.52%. The ex-dividend date of this dividend is Thursday, April 12th. Shaw Communications’s dividend payout ratio is presently 66.67%.
A number of research firms have weighed in on SJR. Canaccord Genuity set a $28.00 price target on shares of Shaw Communications and gave the stock a “hold” rating in a research note on Thursday, January 11th. TD Securities raised shares of Shaw Communications to a “buy” rating in a research note on Friday, January 12th. Barclays increased their price target on shares of Shaw Communications from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Friday, October 27th. Zacks Investment Research downgraded shares of Shaw Communications from a “hold” rating to a “sell” rating in a research note on Wednesday, October 18th. Finally, TheStreet raised shares of Shaw Communications from a “c” rating to a “b-” rating in a research note on Monday, October 30th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. Shaw Communications currently has a consensus rating of “Hold” and a consensus price target of $27.00.
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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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