Shenandoah Telecommunications Co $SHEN Shares Newly Acquired by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Shenandoah Telecommunications Co (NASDAQ:SHEN) in the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 75,200 shares of the utilities provider’s stock, valued at approximately $844,000.

A number of other large investors also recently bought and sold shares of the business. Versant Capital Management Inc lifted its holdings in Shenandoah Telecommunications by 71.7% during the third quarter. Versant Capital Management Inc now owns 3,675 shares of the utilities provider’s stock worth $41,000 after buying an additional 1,535 shares during the period. Caitlin John LLC bought a new position in Shenandoah Telecommunications in the second quarter worth about $69,000. Fifth Third Bancorp boosted its holdings in shares of Shenandoah Telecommunications by 29,229.4% in the 1st quarter. Fifth Third Bancorp now owns 9,972 shares of the utilities provider’s stock valued at $154,000 after buying an additional 9,938 shares in the last quarter. Wealthcare Advisory Partners LLC bought a new position in shares of Shenandoah Telecommunications during the 2nd quarter worth approximately $201,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in Shenandoah Telecommunications during the second quarter valued at approximately $206,000. Institutional investors own 61.96% of the company’s stock.

Shenandoah Telecommunications Trading Down 6.4%

NASDAQ SHEN opened at $9.72 on Friday. Shenandoah Telecommunications Co has a fifty-two week low of $9.13 and a fifty-two week high of $17.34. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.88. The stock has a 50-day simple moving average of $11.17 and a two-hundred day simple moving average of $13.37.

Shenandoah Telecommunications (NASDAQ:SHEN) last announced its quarterly earnings results on Wednesday, October 28th. The utilities provider reported ($0.19) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.04. Shenandoah Telecommunications had a negative return on equity of 4.58% and a negative net margin of 10.68%. The company had revenue of $93.93 million during the quarter, compared to the consensus estimate of $94.10 million. As a group, equities research analysts forecast that Shenandoah Telecommunications Co will post -0.88 earnings per share for the current year.

Shenandoah Telecommunications Increases Dividend

The company also recently disclosed an annual dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Monday, November 2nd will be given a $0.12 dividend. This represents a dividend yield of 121.0%. This is an increase from Shenandoah Telecommunications’s previous annual dividend of $0.11. The ex-dividend date is Monday, November 2nd. Shenandoah Telecommunications’s payout ratio is currently -15.58%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Shenandoah Telecommunications in a research report on Thursday, October 29th. BWS Financial reaffirmed a “buy” rating and issued a $26.00 price objective on shares of Shenandoah Telecommunications in a research report on Thursday, July 30th. Finally, Wall Street Zen lowered shares of Shenandoah Telecommunications from a “hold” rating to a “sell” rating in a research note on Saturday, October 31st. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $27.50.

Shenandoah Telecommunications Profile

Shenandoah Telecommunications Company, also known as Shentel, is a telecommunications provider headquartered in Edinburg, Virginia. The company delivers broadband communications services to residential and commercial customers, with a focus on high-speed internet, fiber-optic connectivity, video and voice services.

Shentel operates its Glo Fiber network in selected communities and provides broadband services through its legacy cable and fiber networks. Its service territory primarily includes markets in Virginia, West Virginia, Maryland and Pennsylvania.