Shenandoah Telecommunications (SHEN) Shares Sold by Standard Life Aberdeen plc

Standard Life Aberdeen plc trimmed its stake in shares of Shenandoah Telecommunications (NASDAQ:SHEN) by 35.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 692,119 shares of the utilities provider’s stock after selling 379,619 shares during the period. Standard Life Aberdeen plc owned 1.40% of Shenandoah Telecommunications worth $26,820,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of SHEN. BlackRock Inc. grew its stake in Shenandoah Telecommunications by 7.8% during the second quarter. BlackRock Inc. now owns 3,323,426 shares of the utilities provider’s stock valued at $108,676,000 after acquiring an additional 239,253 shares in the last quarter. Prudential Financial Inc. grew its stake in Shenandoah Telecommunications by 150.5% during the third quarter. Prudential Financial Inc. now owns 197,987 shares of the utilities provider’s stock valued at $7,672,000 after acquiring an additional 118,947 shares in the last quarter. Millennium Management LLC grew its stake in Shenandoah Telecommunications by 777.8% during the second quarter. Millennium Management LLC now owns 99,550 shares of the utilities provider’s stock valued at $3,255,000 after acquiring an additional 88,209 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in Shenandoah Telecommunications during the third quarter valued at $2,616,000. Finally, Los Angeles Capital Management & Equity Research Inc. purchased a new position in Shenandoah Telecommunications during the third quarter valued at $2,522,000. 47.02% of the stock is owned by institutional investors.

SHEN stock opened at $46.81 on Wednesday. The company has a current ratio of 1.50, a quick ratio of 1.46 and a debt-to-equity ratio of 1.56. The stock has a market capitalization of $2.48 billion, a P/E ratio of 180.04 and a beta of 0.35. Shenandoah Telecommunications has a 12 month low of $29.92 and a 12 month high of $51.41.

Shenandoah Telecommunications (NASDAQ:SHEN) last posted its earnings results on Tuesday, November 6th. The utilities provider reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.16. The business had revenue of $158.73 million for the quarter, compared to the consensus estimate of $156.14 million. Shenandoah Telecommunications had a net margin of 14.41% and a return on equity of 8.73%. On average, equities research analysts expect that Shenandoah Telecommunications will post 0.91 EPS for the current fiscal year.

The firm also recently announced an annual dividend, which was paid on Friday, November 30th. Shareholders of record on Monday, November 12th were given a dividend of $0.27 per share. This is an increase from Shenandoah Telecommunications’s previous annual dividend of $0.26. The ex-dividend date was Thursday, November 8th. This represents a yield of 0.71%. Shenandoah Telecommunications’s dividend payout ratio (DPR) is 103.85%.

In other news, Director James E. Zerkel II sold 2,244 shares of Shenandoah Telecommunications stock in a transaction that occurred on Wednesday, November 21st. The shares were sold at an average price of $48.68, for a total value of $109,237.92. Following the transaction, the director now owns 58,000 shares of the company’s stock, valued at approximately $2,823,440. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Richard L. Koontz, Jr. sold 6,000 shares of Shenandoah Telecommunications stock in a transaction that occurred on Wednesday, November 28th. The stock was sold at an average price of $50.00, for a total transaction of $300,000.00. Following the completion of the transaction, the director now directly owns 25,022 shares in the company, valued at approximately $1,251,100. The disclosure for this sale can be found here. Insiders have sold a total of 44,244 shares of company stock worth $2,027,488 in the last three months. Insiders own 6.84% of the company’s stock.

Several equities analysts have commented on the stock. BidaskClub upgraded shares of Shenandoah Telecommunications from a “hold” rating to a “buy” rating in a research report on Saturday, August 11th. Zacks Investment Research upgraded shares of Shenandoah Telecommunications from a “sell” rating to a “buy” rating and set a $41.00 price objective for the company in a research report on Saturday, August 11th. TheStreet upgraded shares of Shenandoah Telecommunications from a “c+” rating to a “b-” rating in a research report on Friday, August 24th. B. Riley assumed coverage on shares of Shenandoah Telecommunications in a research report on Thursday, September 13th. They set a “buy” rating and a $46.00 price objective for the company. Finally, ValuEngine upgraded shares of Shenandoah Telecommunications from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 10th. One analyst has rated the stock with a hold rating, two have issued a buy rating and three have given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $50.33.

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Shenandoah Telecommunications 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.

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

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