Consolidated Communications Holdings, Inc. (NASDAQ:CNSL) Position Increased by Farmers & Merchants Investments Inc.

Farmers & Merchants Investments Inc. boosted its stake in Consolidated Communications Holdings, Inc. (NASDAQ:CNSL) by 0.3% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 20,288 shares of the utilities provider’s stock after buying an additional 64 shares during the period. Farmers & Merchants Investments Inc.’s holdings in Consolidated Communications Holdings were worth $436,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp increased its position in Consolidated Communications Holdings by 8.8% in the fourth quarter. State Street Corp now owns 1,133,084 shares of the utilities provider’s stock valued at $30,426,000 after buying an additional 91,696 shares during the period. Renaissance Technologies LLC increased its position in Consolidated Communications Holdings by 127.9% in the fourth quarter. Renaissance Technologies LLC now owns 101,394 shares of the utilities provider’s stock valued at $2,722,000 after buying an additional 56,900 shares during the period. AQR Capital Management LLC increased its position in Consolidated Communications Holdings by 0.9% in the fourth quarter. AQR Capital Management LLC now owns 15,345 shares of the utilities provider’s stock valued at $412,000 after buying an additional 130 shares during the period. Thrivent Financial for Lutherans increased its position in Consolidated Communications Holdings by 6.3% in the fourth quarter. Thrivent Financial for Lutherans now owns 27,440 shares of the utilities provider’s stock valued at $737,000 after buying an additional 1,620 shares during the period. Finally, Norges Bank purchased a new stake in shares of Consolidated Communications Holdings during the fourth quarter worth approximately $14,189,000. Institutional investors own 67.14% of the company’s stock.

Shares of Consolidated Communications Holdings, Inc. (CNSL) opened at 19.26 on Friday. Consolidated Communications Holdings, Inc. has a 1-year low of $17.41 and a 1-year high of $30.23. The stock has a market cap of $1.36 billion, a price-to-earnings ratio of 6420.00 and a beta of 0.91. The stock’s 50 day moving average is $19.37 and its 200-day moving average is $22.10.

Consolidated Communications Holdings (NASDAQ:CNSL) last released its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.16 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.03. The business had revenue of $169.95 million during the quarter, compared to the consensus estimate of $169.69 million. Consolidated Communications Holdings had a return on equity of 15.30% and a net margin of 0.09%. The firm’s quarterly revenue was down 9.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.20 EPS. On average, analysts anticipate that Consolidated Communications Holdings, Inc. will post $0.61 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Sunday, October 15th will be paid a $0.3874 dividend. The ex-dividend date of this dividend is Thursday, October 12th. This represents a $1.55 annualized dividend and a yield of 8.05%. Consolidated Communications Holdings’s dividend payout ratio (DPR) is presently 15,500.00%.

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A number of brokerages have recently commented on CNSL. BidaskClub upgraded shares of Consolidated Communications Holdings from a “sell” rating to a “hold” rating in a report on Tuesday, June 13th. Zacks Investment Research downgraded shares of Consolidated Communications Holdings from a “hold” rating to a “sell” rating in a report on Tuesday, May 30th. UBS AG raised shares of Consolidated Communications Holdings to a “strong-buy” rating in a research report on Friday, June 9th. Cowen and Company reissued a “hold” rating and issued a $22.00 target price on shares of Consolidated Communications Holdings in a research report on Friday, July 28th. Finally, Raymond James Financial, Inc. raised shares of Consolidated Communications Holdings from an “outperform” rating to a “strong-buy” rating and set a $26.00 target price on the stock in a research report on Friday, June 9th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, two have assigned a buy rating and two have given a strong buy rating to the company. Consolidated Communications Holdings presently has a consensus rating of “Hold” and a consensus price target of $25.60.

In other news, Director Robert J. Currey purchased 5,000 shares of Consolidated Communications Holdings stock in a transaction that occurred on Wednesday, August 9th. The stock was acquired at an average cost of $19.33 per share, for a total transaction of $96,650.00. Following the purchase, the director now directly owns 48,495 shares of the company’s stock, valued at approximately $937,408.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.00% of the company’s stock.

About Consolidated Communications Holdings

Consolidated Communications Holdings, Inc is a holding company with operating subsidiaries that provide integrated communications services in consumer, commercial and carrier channels in California, Illinois, Iowa, Kansas, Minnesota, Missouri, North Dakota, Pennsylvania, South Dakota, Texas and Wisconsin.

Institutional Ownership by Quarter for Consolidated Communications Holdings (NASDAQ:CNSL)

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