Quest Partners LLC Raises Stock Holdings in Shenandoah Telecommunications (NASDAQ:SHEN)

Quest Partners LLC lifted its holdings in shares of Shenandoah Telecommunications (NASDAQ:SHEN) by 741.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,636 shares of the utilities provider’s stock after purchasing an additional 6,728 shares during the quarter. Quest Partners LLC’s holdings in Shenandoah Telecommunications were worth $108,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. GCM Grosvenor Holdings LLC purchased a new position in shares of Shenandoah Telecommunications during the second quarter worth about $66,959,000. Vanguard Group Inc. grew its holdings in shares of Shenandoah Telecommunications by 1.0% during the first quarter. Vanguard Group Inc. now owns 5,488,067 shares of the utilities provider’s stock worth $95,328,000 after purchasing an additional 51,697 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its holdings in shares of Shenandoah Telecommunications by 99.9% during the second quarter. Mercer Global Advisors Inc. ADV now owns 101,288 shares of the utilities provider’s stock worth $1,654,000 after purchasing an additional 50,630 shares in the last quarter. Inspire Investing LLC grew its holdings in shares of Shenandoah Telecommunications by 34.3% during the third quarter. Inspire Investing LLC now owns 28,988 shares of the utilities provider’s stock worth $409,000 after purchasing an additional 7,407 shares in the last quarter. Finally, CWM LLC grew its holdings in shares of Shenandoah Telecommunications by 3.0% during the second quarter. CWM LLC now owns 72,390 shares of the utilities provider’s stock worth $1,182,000 after purchasing an additional 2,121 shares in the last quarter. Hedge funds and other institutional investors own 61.96% of the company’s stock.

Shenandoah Telecommunications Stock Up 1.4 %

Shares of NASDAQ SHEN opened at $13.33 on Friday. Shenandoah Telecommunications has a one year low of $11.87 and a one year high of $22.97. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.79 and a quick ratio of 0.79. The firm’s 50 day simple moving average is $13.70 and its two-hundred day simple moving average is $15.77. The stock has a market capitalization of $727.84 million, a P/E ratio of 3.43 and a beta of 0.67.

Shenandoah Telecommunications Increases Dividend

The firm also recently declared an annual dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 5th will be given a dividend of $0.10 per share. This is a boost from Shenandoah Telecommunications’s previous annual dividend of $0.09. This represents a yield of 0.66%. The ex-dividend date is Tuesday, November 5th. Shenandoah Telecommunications’s dividend payout ratio (DPR) is presently 2.57%.

Wall Street Analyst Weigh In

Separately, BWS Financial reiterated a “buy” rating and set a $26.00 price target on shares of Shenandoah Telecommunications in a research report on Wednesday, November 13th.

About Shenandoah Telecommunications

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.