Shenandoah Telecommunications (NASDAQ:SHEN) Holdings Lifted by Strs Ohio

Strs Ohio increased its holdings in shares of Shenandoah Telecommunications (NASDAQ:SHENGet Rating) by 21.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,600 shares of the utilities provider’s stock after buying an additional 7,100 shares during the quarter. Strs Ohio owned 0.08% of Shenandoah Telecommunications worth $673,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of SHEN. Lazard Asset Management LLC boosted its position in Shenandoah Telecommunications by 45.4% during the first quarter. Lazard Asset Management LLC now owns 2,595 shares of the utilities provider’s stock valued at $61,000 after purchasing an additional 810 shares during the last quarter. Captrust Financial Advisors boosted its position in Shenandoah Telecommunications by 28.7% during the first quarter. Captrust Financial Advisors now owns 5,027 shares of the utilities provider’s stock valued at $119,000 after purchasing an additional 1,120 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in Shenandoah Telecommunications by 165.9% during the first quarter. PNC Financial Services Group Inc. now owns 5,350 shares of the utilities provider’s stock valued at $126,000 after purchasing an additional 3,338 shares during the last quarter. Mutual of America Capital Management LLC boosted its position in Shenandoah Telecommunications by 16.8% during the second quarter. Mutual of America Capital Management LLC now owns 8,407 shares of the utilities provider’s stock valued at $187,000 after purchasing an additional 1,207 shares during the last quarter. Finally, Hsbc Holdings PLC acquired a new stake in Shenandoah Telecommunications during the first quarter valued at $227,000. Hedge funds and other institutional investors own 53.82% of the company’s stock.

Shenandoah Telecommunications Price Performance

Shares of NASDAQ:SHEN opened at $18.10 on Tuesday. Shenandoah Telecommunications has a fifty-two week low of $15.62 and a fifty-two week high of $25.93. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.49 and a quick ratio of 1.49. The stock has a market capitalization of $906.77 million, a P/E ratio of -201.11 and a beta of 0.64. The business has a 50-day moving average of $17.82 and a two-hundred day moving average of $19.62.

Shenandoah Telecommunications (NASDAQ:SHENGet Rating) last posted its quarterly earnings data on Wednesday, November 2nd. The utilities provider reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.06). Shenandoah Telecommunications had a positive return on equity of 0.05% and a negative net margin of 1.98%. The business had revenue of $66.92 million for the quarter, compared to analyst estimates of $65.94 million. During the same period in the prior year, the firm posted $0.13 EPS. On average, equities research analysts predict that Shenandoah Telecommunications will post -0.09 EPS for the current fiscal year.

Shenandoah Telecommunications Increases Dividend

The firm also recently disclosed an annual dividend, which was paid on Thursday, December 1st. Investors of record on Monday, November 7th were given a dividend of $0.08 per share. This represents a dividend yield of 0.39%. The ex-dividend date of this dividend was Friday, November 4th. This is a boost from Shenandoah Telecommunications’s previous annual dividend of $0.07. Shenandoah Telecommunications’s payout ratio is currently -88.89%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. BWS Financial reduced their price objective on Shenandoah Telecommunications from $16.00 to $15.00 and set a “sell” rating for the company in a research report on Monday, November 7th. StockNews.com raised Shenandoah Telecommunications to a “sell” rating in a research report on Friday.

About Shenandoah Telecommunications

(Get Rating)

Shenandoah Telecommunications Company, together with its subsidiaries, provides a range of broadband communication services and cell tower colocation space in the Mid-Atlantic portion of the United States. Its Broadband segment offers broadband, video, and voice services to residential and commercial customers in Virginia, West Virginia, Maryland, Pennsylvania, and Kentucky, via hybrid fiber coaxial cable under the Shentel brand, fiber optic services under the Glo Fiber brand, and fixed wireless network services under the Beam brand name.

Further Reading

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Institutional Ownership by Quarter for Shenandoah Telecommunications (NASDAQ:SHEN)

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