James Investment Research Inc. bought a new stake in Shenandoah Telecommunications (NASDAQ:SHEN) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 54,660 shares of the utilities provider’s stock, valued at approximately $2,118,000. James Investment Research Inc. owned approximately 0.11% of Shenandoah Telecommunications as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Hartford Investment Management Co. purchased a new stake in shares of Shenandoah Telecommunications in the second quarter valued at about $251,000. Jane Street Group LLC purchased a new stake in shares of Shenandoah Telecommunications in the first quarter valued at about $280,000. Convergence Investment Partners LLC purchased a new stake in shares of Shenandoah Telecommunications in the second quarter valued at about $352,000. BNP Paribas Arbitrage SA boosted its holdings in shares of Shenandoah Telecommunications by 30.7% in the second quarter. BNP Paribas Arbitrage SA now owns 12,814 shares of the utilities provider’s stock valued at $419,000 after acquiring an additional 3,007 shares in the last quarter. Finally, Nisa Investment Advisors LLC purchased a new stake in shares of Shenandoah Telecommunications in the second quarter valued at about $601,000. 46.91% of the stock is currently owned by institutional investors and hedge funds.
Shares of NASDAQ SHEN opened at $38.04 on Friday. The company has a quick ratio of 1.36, a current ratio of 1.41 and a debt-to-equity ratio of 1.71. Shenandoah Telecommunications has a 52 week low of $29.92 and a 52 week high of $39.65. The stock has a market capitalization of $1.80 billion, a P/E ratio of 146.31 and a beta of 0.29.
Shenandoah Telecommunications (NASDAQ:SHEN) last announced its quarterly earnings data on Tuesday, August 7th. The utilities provider reported $0.16 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.10 by $0.06. Shenandoah Telecommunications had a net margin of 12.60% and a return on equity of 6.34%. The firm had revenue of $154.03 million during the quarter, compared to analysts’ expectations of $152.83 million. As a group, research analysts anticipate that Shenandoah Telecommunications will post 0.57 EPS for the current fiscal year.
The business also recently disclosed an annual dividend, which will be paid on Friday, November 30th. Investors of record on Monday, November 12th will be paid a $0.27 dividend. This is a boost from Shenandoah Telecommunications’s previous annual dividend of $0.26. The ex-dividend date is Thursday, November 8th. This represents a dividend yield of 0.71%. Shenandoah Telecommunications’s dividend payout ratio (DPR) is 100.00%.
Several analysts have recently weighed in on the stock. BidaskClub raised shares of Shenandoah Telecommunications from a “buy” rating to a “strong-buy” rating in a report on Friday, October 19th. Zacks Investment Research cut shares of Shenandoah Telecommunications from a “buy” rating to a “hold” rating in a research note on Wednesday, October 10th. TheStreet upgraded shares of Shenandoah Telecommunications from a “c+” rating to a “b-” rating in a research note on Friday, August 24th. Finally, B. Riley started coverage on shares of Shenandoah Telecommunications in a research note on Thursday, September 13th. They issued a “buy” rating and a $46.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $45.67.
In other Shenandoah Telecommunications news, SVP Edward H. Mckay sold 2,000 shares of Shenandoah Telecommunications stock in a transaction dated Wednesday, August 22nd. The shares were sold at an average price of $36.75, for a total transaction of $73,500.00. Following the completion of the transaction, the senior vice president now owns 17,959 shares in the company, valued at $659,993.25. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Raymond B. Ostroski sold 9,000 shares of Shenandoah Telecommunications stock in a transaction dated Thursday, August 9th. The stock was sold at an average price of $36.53, for a total transaction of $328,770.00. Following the transaction, the vice president now owns 24,364 shares of the company’s stock, valued at approximately $890,016.92. The disclosure for this sale can be found here. Insiders sold 21,215 shares of company stock valued at $789,757 in the last quarter. Company insiders own 6.84% of the company’s stock.
Shenandoah Telecommunications 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.
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