Parnassus Investments CA increased its position in shares of Shaw Communications Inc. (NYSE:SJR) (TSE:SJR.B) by 6.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,200,000 shares of the company’s stock after purchasing an additional 250,000 shares during the quarter. Parnassus Investments CA owned approximately 0.85% of Shaw Communications worth $96,642,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Advisor Group Inc. lifted its stake in shares of Shaw Communications by 170.3% in the 2nd quarter. Advisor Group Inc. now owns 4,687 shares of the company’s stock valued at $101,000 after purchasing an additional 2,953 shares during the last quarter. Cutler Group LP lifted its stake in Shaw Communications by 983.3% during the 2nd quarter. Cutler Group LP now owns 6,500 shares of the company’s stock worth $141,000 after acquiring an additional 5,900 shares in the last quarter. US Bancorp DE lifted its stake in Shaw Communications by 14.6% during the 2nd quarter. US Bancorp DE now owns 9,921 shares of the company’s stock worth $217,000 after acquiring an additional 1,267 shares in the last quarter. Wetherby Asset Management Inc. lifted its stake in Shaw Communications by 4.4% during the 2nd quarter. Wetherby Asset Management Inc. now owns 10,332 shares of the company’s stock worth $225,000 after acquiring an additional 439 shares in the last quarter. Finally, Ameriprise Financial Inc. acquired a new position in Shaw Communications during the 2nd quarter worth about $252,000. Hedge funds and other institutional investors own 51.21% of the company’s stock.
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A number of equities research analysts have issued reports on the company. TheStreet raised Shaw Communications from a “c” rating to a “b-” rating in a research report on Monday, October 30th. Zacks Investment Research raised Shaw Communications from a “strong sell” rating to a “hold” rating in a research report on Monday, October 30th. Barclays PLC increased their price objective on Shaw Communications from $21.00 to $22.00 and gave the company an “equal weight” rating in a report on Friday, October 27th. Scotiabank downgraded Shaw Communications from an “outperform” rating to a “sector perform” rating in a report on Thursday, October 12th. Finally, BidaskClub upgraded Shaw Communications from a “sell” rating to a “hold” rating in a report on Tuesday, August 22nd. One research analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. Shaw Communications presently has an average rating of “Hold” and a consensus target price of $27.00.
Shaw Communications Inc. (NYSE SJR) traded down $0.23 during trading hours on Wednesday, hitting $22.43. The company had a trading volume of 609,600 shares, compared to its average volume of 498,799. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 0.80. Shaw Communications Inc. has a fifty-two week low of $19.07 and a fifty-two week high of $23.31. The firm has a market capitalization of $10,748.79, a PE ratio of 26.66, a price-to-earnings-growth ratio of 4.32 and a beta of 0.97.
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 issued a $0.0781 dividend. This represents a $0.94 annualized dividend and a yield of 4.18%. The ex-dividend date is Wednesday, February 14th. Shaw Communications’s dividend payout ratio is currently 69.17%.
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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