Victory Capital Management Inc. bought a new position in shares of Shenandoah Telecommunications (NASDAQ:SHEN) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 10,728 shares of the utilities provider’s stock, valued at approximately $416,000.
Several other institutional investors and hedge funds have also made changes to their positions in SHEN. JNBA Financial Advisors acquired a new stake in shares of Shenandoah Telecommunications during the third quarter worth $186,000. Convergence Investment Partners LLC acquired a new stake in shares of Shenandoah Telecommunications during the second quarter worth $352,000. BNP Paribas Arbitrage SA lifted its holdings in shares of Shenandoah Telecommunications by 30.7% during the second quarter. BNP Paribas Arbitrage SA now owns 12,814 shares of the utilities provider’s stock worth $419,000 after purchasing an additional 3,007 shares during the period. Nisa Investment Advisors LLC acquired a new stake in shares of Shenandoah Telecommunications during the second quarter worth $601,000. Finally, MetLife Investment Advisors LLC lifted its holdings in shares of Shenandoah Telecommunications by 17.0% during the second quarter. MetLife Investment Advisors LLC now owns 23,367 shares of the utilities provider’s stock worth $764,000 after purchasing an additional 3,392 shares during the period. Institutional investors and hedge funds own 46.80% of the company’s stock.
In other Shenandoah Telecommunications news, Director Richard L. Koontz, Jr. sold 6,000 shares of the firm’s stock in a transaction on Wednesday, November 28th. The stock was sold at an average price of $50.00, for a total value of $300,000.00. Following the completion of the sale, the director now owns 25,022 shares of the company’s stock, valued at $1,251,100. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director James E. Zerkel II sold 2,244 shares of the firm’s stock in a transaction 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 completion of the sale, the director now directly owns 58,000 shares of the company’s stock, valued at approximately $2,823,440. The disclosure for this sale can be found here. In the last three months, insiders sold 44,244 shares of company stock valued at $2,027,488. 6.84% of the stock is owned by corporate insiders.
Shenandoah Telecommunications (NASDAQ:SHEN) last released 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. Shenandoah Telecommunications had a return on equity of 8.73% and a net margin of 14.41%. The company had revenue of $158.73 million during the quarter, compared to the consensus estimate of $156.14 million. On average, sell-side analysts predict that Shenandoah Telecommunications will post 0.91 earnings per share 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 issued a $0.27 dividend. The ex-dividend date was Thursday, November 8th. This represents a yield of 0.71%. This is an increase from Shenandoah Telecommunications’s previous annual dividend of $0.26. Shenandoah Telecommunications’s dividend payout ratio (DPR) is 103.85%.
SHEN has been the subject of several recent research reports. BidaskClub raised Shenandoah Telecommunications from a “hold” rating to a “buy” rating in a report on Saturday, August 11th. B. Riley initiated coverage on Shenandoah Telecommunications in a report on Thursday, September 13th. They set a “buy” rating and a $46.00 price target for the company. Zacks Investment Research raised Shenandoah Telecommunications from a “hold” rating to a “strong-buy” rating and set a $51.00 price target for the company in a report on Thursday, November 15th. ValuEngine raised Shenandoah Telecommunications from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 10th. Finally, TheStreet raised Shenandoah Telecommunications from a “c+” rating to a “b-” rating in a report on Friday, August 24th. One investment analyst has rated the stock with a hold rating, two have given a buy rating and three have assigned a strong buy rating to the company’s stock. Shenandoah Telecommunications currently has a consensus rating of “Buy” and an average 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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