Principal Financial Group Inc. Has $4.53 Million Holdings in Shenandoah Telecommunications (NASDAQ:SHEN)

Principal Financial Group Inc. lessened its holdings in Shenandoah Telecommunications (NASDAQ:SHENFree Report) by 0.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 260,820 shares of the utilities provider’s stock after selling 1,009 shares during the period. Principal Financial Group Inc. owned 0.52% of Shenandoah Telecommunications worth $4,530,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. RWA Wealth Partners LLC acquired a new stake in shares of Shenandoah Telecommunications in the 4th quarter valued at $2,583,000. Norges Bank acquired a new position in Shenandoah Telecommunications during the 4th quarter worth $6,797,000. Charles Schwab Investment Management Inc. lifted its position in Shenandoah Telecommunications by 6.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 751,915 shares of the utilities provider’s stock worth $16,256,000 after acquiring an additional 42,747 shares during the last quarter. American Century Companies Inc. lifted its position in Shenandoah Telecommunications by 25.6% during the 3rd quarter. American Century Companies Inc. now owns 445,005 shares of the utilities provider’s stock worth $9,172,000 after acquiring an additional 90,695 shares during the last quarter. Finally, Louisiana State Employees Retirement System acquired a new position in Shenandoah Telecommunications during the 4th quarter worth $543,000. Institutional investors and hedge funds own 61.96% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. BWS Financial reissued a “buy” rating and set a $26.00 target price on shares of Shenandoah Telecommunications in a research report on Monday, May 6th. StockNews.com raised shares of Shenandoah Telecommunications to a “sell” rating in a research report on Monday, June 24th.

Get Our Latest Report on SHEN

Insider Transactions at Shenandoah Telecommunications

In related news, SVP Richard W. Mason, Jr. acquired 2,000 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were bought at an average price of $14.73 per share, for a total transaction of $29,460.00. Following the acquisition, the senior vice president now owns 14,501 shares in the company, valued at approximately $213,599.73. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Shenandoah Telecommunications news, CEO Christopher E. French bought 11,000 shares of the stock in a transaction that occurred on Tuesday, May 7th. The shares were acquired at an average price of $14.69 per share, with a total value of $161,590.00. Following the completion of the purchase, the chief executive officer now directly owns 319,750 shares in the company, valued at approximately $4,697,127.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Richard W. Mason, Jr. bought 2,000 shares of the stock in a transaction that occurred on Tuesday, May 7th. The stock was acquired at an average cost of $14.73 per share, for a total transaction of $29,460.00. Following the purchase, the senior vice president now owns 14,501 shares of the company’s stock, valued at $213,599.73. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 37,650 shares of company stock worth $577,135. 4.37% of the stock is currently owned by company insiders.

Shenandoah Telecommunications Stock Performance

NASDAQ:SHEN opened at $16.56 on Friday. The firm’s 50-day moving average is $16.63 and its 200-day moving average is $17.95. Shenandoah Telecommunications has a 52-week low of $11.87 and a 52-week high of $25.51. The company has a debt-to-equity ratio of 0.33, a quick ratio of 4.68 and a current ratio of 4.68. The company has a market cap of $903.35 million, a price-to-earnings ratio of 3.82 and a beta of 0.73.

Shenandoah Telecommunications (NASDAQ:SHENGet Free Report) last posted its quarterly earnings data on Friday, May 3rd. The utilities provider reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.06). Shenandoah Telecommunications had a return on equity of 0.27% and a net margin of 77.44%. The company had revenue of $69.25 million for the quarter, compared to the consensus estimate of $71.52 million. Equities research analysts anticipate that Shenandoah Telecommunications will post -0.13 earnings per share for the current year.

About Shenandoah Telecommunications

(Free Report)

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.

See Also

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

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