Shell Asset Management Co. Purchases 5,200 Shares of Shaw Communications Inc (SJR)

Shell Asset Management Co. raised its position in Shaw Communications Inc (NYSE:SJR) (TSE:SJR.B) by 9.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 59,886 shares of the company’s stock after purchasing an additional 5,200 shares during the quarter. Shell Asset Management Co.’s holdings in Shaw Communications were worth $1,247,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Parallel Advisors LLC acquired a new stake in shares of Shaw Communications in the first quarter valued at about $31,000. Lindbrook Capital LLC boosted its holdings in shares of Shaw Communications by 1,138.2% during the first quarter. Lindbrook Capital LLC now owns 1,684 shares of the company’s stock worth $35,000 after acquiring an additional 1,548 shares during the period. Beutel Goodman & Co Ltd. bought a new stake in shares of Shaw Communications during the first quarter worth approximately $60,000. JCIC Asset Management Inc. boosted its holdings in shares of Shaw Communications by 34.8% during the first quarter. JCIC Asset Management Inc. now owns 4,335 shares of the company’s stock worth $90,000 after acquiring an additional 1,120 shares during the period. Finally, Financial Gravity Companies Inc. bought a new stake in shares of Shaw Communications during the fourth quarter worth approximately $122,000. 52.76% of the stock is currently owned by hedge funds and other institutional investors.

Shares of SJR stock opened at $20.30 on Monday. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.73 and a quick ratio of 0.71. The company has a market capitalization of $10.35 billion, a P/E ratio of 17.20, a P/E/G ratio of 4.07 and a beta of 0.86. Shaw Communications Inc has a 1 year low of $17.50 and a 1 year high of $21.50.

Shaw Communications (NYSE:SJR) (TSE:SJR.B) last issued its quarterly earnings results on Tuesday, April 9th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.01. The business had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.37 billion. Shaw Communications had a return on equity of 12.42% and a net margin of 8.42%. The firm’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.33) earnings per share. As a group, analysts predict that Shaw Communications Inc will post 1 earnings per share for the current year.

The business also recently declared a monthly dividend, which will be paid on Thursday, June 27th. Investors of record on Friday, June 14th will be paid a $0.074 dividend. This represents a $0.89 annualized dividend and a dividend yield of 4.37%. The ex-dividend date of this dividend is Thursday, June 13th. Shaw Communications’s dividend payout ratio (DPR) is currently 74.58%.

A number of brokerages have recently issued reports on SJR. Echelon Wealth Partners restated a “buy” rating on shares of Shaw Communications in a report on Wednesday, April 10th. TheStreet upgraded Shaw Communications from a “c” rating to a “b-” rating in a research note on Friday, April 12th. Royal Bank of Canada set a $30.00 price target on Shaw Communications and gave the company a “buy” rating in a research note on Wednesday, April 10th. Finally, Zacks Investment Research cut Shaw Communications from a “hold” rating to a “sell” rating in a research note on Friday, April 12th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. Shaw Communications has an average rating of “Hold” and an average target price of $27.00.

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Shaw Communications Profile

Shaw Communications Inc operates as a connectivity company in North America. The company operates through Wireline and Wireless segments. The Wireline segment provides broadband Internet, Shaw Go WiFi, video, and digital phone services to residential customers; and Internet, data, WiFi, digital phone, and video services to business customers.

Further Reading: Why are percentage gainers important?

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Institutional Ownership by Quarter for Shaw Communications (NYSE:SJR)

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