Shenandoah Telecommunications (SHEN) Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System cut its holdings in Shenandoah Telecommunications (NASDAQ:SHEN) by 9.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 74,392 shares of the utilities provider’s stock after selling 7,952 shares during the period. California State Teachers Retirement System owned 0.15% of Shenandoah Telecommunications worth $2,767,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of SHEN. Ameritas Investment Partners Inc. raised its holdings in shares of Shenandoah Telecommunications by 9.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,079 shares of the utilities provider’s stock worth $125,000 after acquiring an additional 347 shares in the last quarter. Pacad Investment Ltd. raised its holdings in shares of Shenandoah Telecommunications by 5.0% during the 2nd quarter. Pacad Investment Ltd. now owns 4,200 shares of the utilities provider’s stock worth $129,000 after acquiring an additional 200 shares in the last quarter. Macquarie Group Ltd. purchased a new stake in shares of Shenandoah Telecommunications during the 3rd quarter worth approximately $138,000. BNP Paribas Arbitrage SA raised its holdings in shares of Shenandoah Telecommunications by 790.5% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 5,521 shares of the utilities provider’s stock worth $169,000 after acquiring an additional 4,901 shares in the last quarter. Finally, Toronto Dominion Bank raised its holdings in shares of Shenandoah Telecommunications by 13.2% during the 2nd quarter. Toronto Dominion Bank now owns 6,636 shares of the utilities provider’s stock worth $204,000 after acquiring an additional 776 shares in the last quarter. 48.41% of the stock is currently owned by institutional investors.

Several analysts have recently issued reports on SHEN shares. Zacks Investment Research raised Shenandoah Telecommunications from a “sell” rating to a “hold” rating in a report on Wednesday, October 4th. TheStreet cut Shenandoah Telecommunications from a “b-” rating to a “c+” rating in a report on Friday, November 10th. Finally, BidaskClub cut Shenandoah Telecommunications from a “buy” rating to a “hold” rating in a report on Wednesday, December 6th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $35.00.

Shares of Shenandoah Telecommunications (NASDAQ:SHEN) opened at $32.45 on Friday. The stock has a market capitalization of $1,570.00, a P/E ratio of 295.00 and a beta of 0.69. Shenandoah Telecommunications has a twelve month low of $25.35 and a twelve month 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.

Shenandoah Telecommunications (NASDAQ:SHEN) last released its quarterly earnings results on Thursday, November 2nd. The utilities provider reported $0.07 earnings per share 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 for the quarter, compared to analyst estimates of $153.64 million. During the same quarter in the prior year, the firm posted ($0.16) EPS. Shenandoah Telecommunications’s quarterly revenue was down 3.2% compared to the same quarter last year. equities research analysts predict that Shenandoah Telecommunications will post 0.16 earnings per share for the current fiscal year.

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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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