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% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 74,392 shares of the utilities provider’s stock after selling 7,952 shares during the period. California State Teachers Retirement System owned approximately 0.15% of Shenandoah Telecommunications worth $2,767,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Elk Creek Partners LLC increased its position in shares of Shenandoah Telecommunications by 2.8% during the third quarter. Elk Creek Partners LLC now owns 274,587 shares of the utilities provider’s stock valued at $10,215,000 after buying an additional 7,487 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Shenandoah Telecommunications by 1.4% during the third quarter. Dimensional Fund Advisors LP now owns 2,202,254 shares of the utilities provider’s stock valued at $81,925,000 after buying an additional 30,156 shares during the period. Schwab Charles Investment Management Inc. increased its position in shares of Shenandoah Telecommunications by 5.6% during the third quarter. Schwab Charles Investment Management Inc. now owns 221,095 shares of the utilities provider’s stock valued at $8,225,000 after buying an additional 11,821 shares during the period. Wells Fargo & Company MN grew its holdings in Shenandoah Telecommunications by 28.1% in the third quarter. Wells Fargo & Company MN now owns 85,915 shares of the utilities provider’s stock worth $3,196,000 after purchasing an additional 18,862 shares during the period. Finally, Amalgamated Bank purchased a new stake in Shenandoah Telecommunications in the third quarter worth about $221,000. 48.41% of the stock is owned by institutional investors and hedge funds.

A number of equities research analysts have weighed in on SHEN shares. TheStreet cut shares of Shenandoah Telecommunications from a “b-” rating to a “c+” rating in a report on Friday, November 10th. Zacks Investment Research upgraded shares of Shenandoah Telecommunications from a “sell” rating to a “hold” rating in a report on Wednesday, October 4th. Finally, BidaskClub cut shares of 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 issued a hold rating and one has assigned 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.

Shenandoah Telecommunications (NASDAQ:SHEN) opened at $31.60 on Friday. 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 has a 52-week low of $25.35 and a 52-week high of $41.80. The firm has a market cap of $1,539.52, a P/E ratio of 263.33 and a beta of 0.68.

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, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.08. The business had revenue of $151.80 million for the quarter, compared to the consensus estimate of $153.64 million. Shenandoah Telecommunications had a net margin of 0.91% and a return on equity of 4.04%. The company’s quarterly revenue was down 3.2% on a year-over-year basis. During the same period last year, the firm earned ($0.16) earnings per share. equities analysts expect that Shenandoah Telecommunications will post 0.16 EPS for the current 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.

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

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