Strs Ohio Has $711,000 Stock Position in Shenandoah Telecommunications (NASDAQ:SHEN)

Strs Ohio cut its holdings in shares of Shenandoah Telecommunications (NASDAQ:SHEN) by 2.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,900 shares of the utilities provider’s stock after selling 1,000 shares during the quarter. Strs Ohio’s holdings in Shenandoah Telecommunications were worth $711,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Counterpoint Mutual Funds LLC purchased a new stake in Shenandoah Telecommunications during the third quarter worth about $109,000. Handelsbanken Fonder AB purchased a new stake in shares of Shenandoah Telecommunications during the 3rd quarter worth approximately $205,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Shenandoah Telecommunications by 17.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,045 shares of the utilities provider’s stock valued at $228,000 after purchasing an additional 1,674 shares during the last quarter. Campbell & CO Investment Adviser LLC bought a new position in shares of Shenandoah Telecommunications during the 3rd quarter worth $333,000. Finally, Versor Investments LP bought a new stake in Shenandoah Telecommunications in the 3rd quarter valued at about $340,000. 61.96% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, BWS Financial upgraded shares of Shenandoah Telecommunications from a “neutral” rating to a “buy” rating and set a $26.00 target price for the company in a research report on Monday, March 4th.

Shenandoah Telecommunications Trading Down 1.6 %

Shares of SHEN stock opened at $13.95 on Friday. Shenandoah Telecommunications has a 1 year low of $13.48 and a 1 year high of $25.51. The company’s fifty day simple moving average is $17.09 and its two-hundred day simple moving average is $20.12. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.79 and a quick ratio of 1.79. The stock has a market capitalization of $703.78 million, a price-to-earnings ratio of 87.19 and a beta of 0.52.

Shenandoah Telecommunications (NASDAQ:SHEN) last issued its quarterly earnings data on Wednesday, February 21st. The utilities provider reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.06. The business had revenue of $72.51 million for the quarter, compared to analysts’ expectations of $71.85 million. Shenandoah Telecommunications had a return on equity of 1.24% and a net margin of 2.80%. During the same quarter in the prior year, the firm posted ($0.04) EPS. As a group, analysts anticipate that Shenandoah Telecommunications will post -0.05 earnings per share for the current year.

Shenandoah Telecommunications Company Profile

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. It operates in two segments, Broadband and Tower. The company Broadband segment offers broadband, video, and voice services to residential and commercial customers in Virginia, West Virginia, Maryland, Pennsylvania, and Kentucky through hybrid fiber coaxial cable under the Shentel brand; and fiber optic services under the Glo Fiber brand name.