Shentel (SHEN) Holdings Boosted by Wells Fargo & Company MN

Wells Fargo & Company MN raised its stake in shares of Shentel (NASDAQ:SHEN) by 19.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 102,761 shares of the utilities provider’s stock after acquiring an additional 16,846 shares during the period. Wells Fargo & Company MN owned about 0.21% of Shentel worth $3,473,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Dimensional Fund Advisors LP lifted its stake in Shentel by 1.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,202,254 shares of the utilities provider’s stock valued at $81,925,000 after acquiring an additional 30,156 shares in the last quarter. Crow Point Partners LLC lifted its stake in Shentel by 3.7% during the 4th quarter. Crow Point Partners LLC now owns 975,000 shares of the utilities provider’s stock valued at $32,858,000 after acquiring an additional 35,000 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its stake in Shentel by 4.6% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 231,240 shares of the utilities provider’s stock valued at $7,816,000 after acquiring an additional 10,145 shares in the last quarter. Mutual of America Capital Management LLC lifted its stake in Shentel by 0.9% during the 4th quarter. Mutual of America Capital Management LLC now owns 221,543 shares of the utilities provider’s stock valued at $7,488,000 after acquiring an additional 2,063 shares in the last quarter. Finally, California Public Employees Retirement System lifted its stake in Shentel by 8.8% during the 3rd quarter. California Public Employees Retirement System now owns 102,037 shares of the utilities provider’s stock valued at $3,796,000 after acquiring an additional 8,237 shares in the last quarter. Institutional investors and hedge funds own 48.95% of the company’s stock.

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In other news, SVP Edward H. Mckay sold 10,000 shares of Shentel stock in a transaction on Thursday, March 29th. The stock was sold at an average price of $36.31, for a total transaction of $363,100.00. Following the sale, the senior vice president now directly owns 50,616 shares in the company, valued at approximately $1,837,866.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ken L. Burch sold 1,000 shares of Shentel stock in a transaction on Thursday, March 29th. The stock was sold at an average price of $36.30, for a total value of $36,300.00. Following the sale, the director now owns 441,315 shares in the company, valued at $16,019,734.50. The disclosure for this sale can be found here. Insiders have sold a total of 21,070 shares of company stock worth $769,859 over the last quarter. Company insiders own 6.84% of the company’s stock.

Several equities analysts have weighed in on the company. ValuEngine upgraded Shentel from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. BidaskClub upgraded Shentel from a “hold” rating to a “buy” rating in a research note on Thursday, March 22nd. BWS Financial set a $50.00 target price on Shentel and gave the stock a “buy” rating in a research note on Wednesday, January 24th. Zacks Investment Research cut Shentel from a “hold” rating to a “sell” rating in a research note on Saturday, January 27th. Finally, TheStreet upgraded Shentel from a “c” rating to a “b” rating in a research note on Thursday, March 15th. Three investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $47.00.

NASDAQ SHEN opened at $37.30 on Friday. The firm has a market cap of $1,785.45, a PE ratio of 143.46 and a beta of 0.67. Shentel has a one year low of $28.00 and a one year high of $41.80. The company has a current ratio of 1.26, a quick ratio of 1.22 and a debt-to-equity ratio of 2.16.

Shentel (NASDAQ:SHEN) last released its earnings results on Thursday, March 15th. The utilities provider reported $0.14 EPS for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.09. The company had revenue of $151.62 million for the quarter, compared to analysts’ expectations of $154.19 million. Shentel had a return on equity of 4.16% and a net margin of 10.87%. sell-side analysts forecast that Shentel will post 0.46 EPS for the current fiscal year.

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Shentel Company Profile

Shenandoah Telecommunications Company, through its subsidiaries, provides regulated and unregulated telecommunications services to customers and other telecommunications providers in central and western Virginia, south-central Pennsylvania, West Virginia, Maryland, North Carolina, Kentucky, Tennessee, and Ohio.

Institutional Ownership by Quarter for Shentel (NASDAQ:SHEN)

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