Thornburg Investment Management Inc. Acquires 341,281 Shares of South Bow Corporation $SOBO

Thornburg Investment Management Inc. lifted its holdings in South Bow Corporation (NYSE:SOBO) by 20.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,997,301 shares of the company’s stock after acquiring an additional 341,281 shares during the period. Thornburg Investment Management Inc. owned 0.96% of South Bow worth $56,504,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Quantinno Capital Management LP lifted its holdings in South Bow by 4.9% in the 2nd quarter. Quantinno Capital Management LP now owns 10,175 shares of the company’s stock worth $264,000 after purchasing an additional 478 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in South Bow by 157.3% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,055 shares of the company’s stock valued at $30,000 after buying an additional 645 shares in the last quarter. Metis Global Partners LLC raised its position in shares of South Bow by 6.0% during the second quarter. Metis Global Partners LLC now owns 13,609 shares of the company’s stock valued at $353,000 after buying an additional 769 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of South Bow by 4.2% in the second quarter. Ameriprise Financial Inc. now owns 24,292 shares of the company’s stock worth $629,000 after buying an additional 988 shares in the last quarter. Finally, Jones Financial Companies Lllp boosted its position in shares of South Bow by 8.1% during the third quarter. Jones Financial Companies Lllp now owns 15,535 shares of the company’s stock worth $440,000 after acquiring an additional 1,164 shares during the last quarter.

Wall Street Analyst Weigh In

SOBO has been the topic of a number of research reports. Barclays assumed coverage on shares of South Bow in a report on Monday, December 8th. They issued an “equal weight” rating and a $27.00 price target on the stock. National Bank Financial raised their price objective on South Bow from $27.00 to $29.00 and gave the company a “sector perform” rating in a research report on Wednesday, December 17th. Jefferies Financial Group raised South Bow from a “hold” rating to a “buy” rating in a report on Monday, December 15th. BMO Capital Markets reissued a “market perform” rating on shares of South Bow in a research note on Monday, November 17th. Finally, UBS Group started coverage on South Bow in a report on Thursday, December 11th. They set a “neutral” rating for the company. Three research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $29.00.

South Bow Stock Up 2.9%

Shares of SOBO opened at $32.73 on Thursday. The company has a quick ratio of 1.28, a current ratio of 1.36 and a debt-to-equity ratio of 2.19. The business has a fifty day moving average of $28.28 and a 200 day moving average of $27.66. The company has a market cap of $6.81 billion, a PE ratio of 20.58 and a beta of 0.47. South Bow Corporation has a 52-week low of $21.16 and a 52-week high of $32.75.

South Bow Company Profile

South Bow Corp is a strategic liquids pipeline company. It is a new liquids-focused midstream infrastructure company. South Bow Corp is based in Canada.