Addenda Capital Inc. Boosts Position in Shaw Communications Inc. (SJR)

Addenda Capital Inc. boosted its position in shares of Shaw Communications Inc. (NYSE:SJR) (TSE:SJR.B) by 157.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 124,940 shares of the company’s stock after buying an additional 76,430 shares during the period. Addenda Capital Inc.’s holdings in Shaw Communications were worth $2,720,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Cutler Group LP increased its stake in Shaw Communications by 983.3% in the second quarter. Cutler Group LP now owns 6,500 shares of the company’s stock worth $141,000 after buying an additional 5,900 shares during the period. Fort Washington Investment Advisors Inc. OH purchased a new stake in Shaw Communications during the first quarter worth about $204,000. Wetherby Asset Management Inc. purchased a new stake in Shaw Communications during the first quarter worth about $205,000. US Bancorp DE increased its stake in Shaw Communications by 14.6% in the second quarter. US Bancorp DE now owns 9,921 shares of the company’s stock worth $217,000 after buying an additional 1,267 shares during the period. Finally, Greenleaf Trust increased its stake in Shaw Communications by 1.7% in the first quarter. Greenleaf Trust now owns 11,228 shares of the company’s stock worth $233,000 after buying an additional 190 shares during the period. 53.35% of the stock is owned by hedge funds and other institutional investors.

Shaw Communications Inc. (NYSE:SJR) opened at 21.92 on Friday. Shaw Communications Inc. has a 52 week low of $19.02 and a 52 week high of $23.31. The firm’s 50 day moving average price is $21.89 and its 200-day moving average price is $21.44. The firm has a market cap of $10.81 billion, a PE ratio of 26.25 and a beta of 0.91.

Shaw Communications (NYSE:SJR) (TSE:SJR.B) last posted its earnings results on Wednesday, June 28th. The company reported $0.44 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.19. The firm had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.32 billion. Shaw Communications had a net margin of 10.01% and a return on equity of 9.31%. The business’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.11 earnings per share. On average, analysts forecast that Shaw Communications Inc. will post $1.05 EPS for the current year.

The firm also recently announced a monthly dividend, which will be paid on Wednesday, November 29th. Shareholders of record on Wednesday, November 15th will be given a dividend of $0.0744 per share. This represents a $0.89 annualized dividend and a yield of 4.08%. The ex-dividend date is Tuesday, November 14th. Shaw Communications’s payout ratio is 118.75%.

A number of equities research analysts have issued reports on the company. BidaskClub downgraded Shaw Communications from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Zacks Investment Research raised Shaw Communications from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a research report on Thursday, June 15th. National Bank Financial downgraded Shaw Communications from an “outperform market weight” rating to a “sector perform market weight” rating in a research report on Wednesday, June 28th. Finally, Canaccord Genuity set a $28.00 price target on Shaw Communications and gave the company a “hold” rating in a research report on Monday, May 1st. Two research analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average 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.