Shenandoah Telecommunications Co (SHEN) Position Trimmed by First Trust Advisors LP

First Trust Advisors LP decreased its position in shares of Shenandoah Telecommunications Co (NASDAQ:SHEN) by 65.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,174 shares of the utilities provider’s stock after selling 19,158 shares during the quarter. First Trust Advisors LP’s holdings in Shenandoah Telecommunications were worth $378,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SHEN. The Manufacturers Life Insurance Company raised its stake in Shenandoah Telecommunications by 1,399.2% during the second quarter. The Manufacturers Life Insurance Company now owns 537,792 shares of the utilities provider’s stock worth $16,510,000 after acquiring an additional 501,920 shares in the last quarter. State Street Corp raised its stake in Shenandoah Telecommunications by 5.7% during the second quarter. State Street Corp now owns 946,221 shares of the utilities provider’s stock worth $29,048,000 after acquiring an additional 50,603 shares in the last quarter. Vanguard Group Inc. raised its stake in Shenandoah Telecommunications by 1.3% during the second quarter. Vanguard Group Inc. now owns 3,720,805 shares of the utilities provider’s stock worth $114,229,000 after acquiring an additional 47,212 shares in the last quarter. Wells Fargo & Company MN raised its stake in Shenandoah Telecommunications by 89.2% during the second quarter. Wells Fargo & Company MN now owns 67,053 shares of the utilities provider’s stock worth $2,059,000 after acquiring an additional 31,620 shares in the last quarter. Finally, Shell Asset Management Co. acquired a new position in Shenandoah Telecommunications during the third quarter worth about $664,000. 52.64% of the stock is owned by institutional investors and hedge funds.

In other news, insider Earle A. Mackenzie sold 46,000 shares of the company’s stock in a transaction that occurred on Monday, September 25th. The stock was sold at an average price of $38.93, for a total value of $1,790,780.00. Following the completion of the transaction, the insider now owns 118,047 shares of the company’s stock, valued at $4,595,569.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 7.24% of the company’s stock.

Shenandoah Telecommunications Co (NASDAQ SHEN) opened at $34.55 on Monday. Shenandoah Telecommunications Co has a 52 week low of $25.35 and a 52 week high of $41.80. The company has a quick ratio of 1.28, a current ratio of 1.34 and a debt-to-equity ratio of 2.60. The stock has a market capitalization of $1,702.11, a P/E ratio of 138.20 and a beta of 0.67.

Shenandoah Telecommunications (NASDAQ:SHEN) last released its quarterly earnings data on Thursday, November 2nd. The utilities provider reported $0.07 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 company had revenue of $151.80 million during the quarter, compared to the consensus estimate of $153.64 million. During the same quarter in the prior year, the firm posted ($0.16) earnings per share. The firm’s revenue was down 3.2% compared to the same quarter last year. analysts expect that Shenandoah Telecommunications Co will post 0.16 EPS for the current fiscal year.

The company also recently disclosed an annual dividend, which was paid on Friday, December 1st. Stockholders of record on Friday, November 3rd were paid a $0.26 dividend. The ex-dividend date was Thursday, November 2nd. This represents a dividend yield of 0.65%. This is an increase from Shenandoah Telecommunications’s previous annual dividend of $0.25. Shenandoah Telecommunications’s dividend payout ratio is currently 216.67%.

SHEN has been the subject of several research analyst reports. Zacks Investment Research raised Shenandoah Telecommunications from a “sell” rating to a “hold” rating in a research note on Wednesday, October 4th. TheStreet downgraded Shenandoah Telecommunications from a “b-” rating to a “c+” rating in a research note on Friday, November 10th. Finally, BidaskClub downgraded Shenandoah Telecommunications from a “buy” rating to a “hold” rating in a research note on Wednesday, December 6th. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $35.00.

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

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