Ameriprise Financial Inc. lowered its position in Shenandoah Telecommunications (NASDAQ:SHEN) by 20.7% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 174,638 shares of the utilities provider’s stock after selling 45,665 shares during the period. Ameriprise Financial Inc. owned 0.35% of Shenandoah Telecommunications worth $6,497,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in the business. New York State Common Retirement Fund lifted its holdings in Shenandoah Telecommunications by 8.9% in the 3rd quarter. New York State Common Retirement Fund now owns 53,040 shares of the utilities provider’s stock valued at $1,973,000 after purchasing an additional 4,340 shares in the last quarter. Principal Financial Group Inc. purchased a new position in shares of Shenandoah Telecommunications during the 3rd quarter worth $296,000. Prudential Financial Inc. purchased a new position in shares of Shenandoah Telecommunications during the 3rd quarter worth $1,673,000. Stoneridge Investment Partners LLC purchased a new position in shares of Shenandoah Telecommunications during the 3rd quarter worth $253,000. Finally, Emerald Mutual Fund Advisers Trust raised its holdings in shares of Shenandoah Telecommunications by 40.5% during the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 79,758 shares of the utilities provider’s stock worth $2,967,000 after acquiring an additional 23,000 shares during the period. Institutional investors own 48.41% of the company’s stock.
Shenandoah Telecommunications (SHEN) opened at $33.90 on Wednesday. Shenandoah Telecommunications has a fifty-two week low of $25.35 and a fifty-two week high of $41.80. The company has a current ratio of 1.34, a quick ratio of 1.28 and a debt-to-equity ratio of 2.60. The company has a market capitalization of $1,665.15, a price-to-earnings ratio of 282.50 and a beta of 0.67.
Shenandoah Telecommunications (NASDAQ:SHEN) last posted its quarterly earnings results on Thursday, November 2nd. The utilities provider reported $0.07 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.08. Shenandoah Telecommunications had a return on equity of 4.04% and a net margin of 0.91%. The business had revenue of $151.80 million for the quarter, compared to analyst estimates of $153.64 million. During the same quarter in the previous year, the firm earned ($0.16) EPS. The company’s quarterly revenue was down 3.2% compared to the same quarter last year. research analysts expect that Shenandoah Telecommunications will post 0.16 earnings per share for the current year.
The firm also recently disclosed an annual dividend, which was paid on Friday, December 1st. Investors of record on Friday, November 3rd were given a dividend of $0.26 per share. This represents a dividend yield of 0.65%. This is an increase from Shenandoah Telecommunications’s previous annual dividend of $0.25. The ex-dividend date was Thursday, November 2nd. Shenandoah Telecommunications’s dividend payout ratio (DPR) is presently 216.67%.
SHEN has been the topic of several analyst reports. TheStreet lowered Shenandoah Telecommunications from a “b-” rating to a “c+” rating in a report on Friday, November 10th. Zacks Investment Research upgraded Shenandoah Telecommunications from a “sell” rating to a “hold” rating in a report on Wednesday, October 4th. Finally, BidaskClub lowered Shenandoah Telecommunications from a “buy” rating to a “hold” rating in a report on Wednesday, December 6th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. Shenandoah Telecommunications has a consensus rating of “Hold” and an average price target of $35.00.
Shenandoah Telecommunications Profile
Shenandoah Telecommunications Company is a telecommunications holding company. The Company’s segments are Wireless, Cable, Wireline and Other. The Company, through its operating subsidiaries, provides both regulated and unregulated telecommunications services to end user customers and other telecommunications providers in Virginia, West Virginia, central Pennsylvania, western Maryland, and portions of Kentucky and Ohio.
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