Intech Investment Management LLC Takes $1.11 Million Position in Shenandoah Telecommunications (NASDAQ:SHEN)

Intech Investment Management LLC acquired a new position in Shenandoah Telecommunications (NASDAQ:SHEN) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 78,849 shares of the utilities provider’s stock, valued at approximately $1,113,000.

A number of other institutional investors and hedge funds have also bought and sold shares of SHEN. nVerses Capital LLC acquired a new position in Shenandoah Telecommunications in the 3rd quarter valued at approximately $37,000. GAMMA Investing LLC increased its position in shares of Shenandoah Telecommunications by 85.1% during the second quarter. GAMMA Investing LLC now owns 4,599 shares of the utilities provider’s stock valued at $75,000 after purchasing an additional 2,115 shares during the period. Quest Partners LLC raised its stake in shares of Shenandoah Telecommunications by 741.0% in the third quarter. Quest Partners LLC now owns 7,636 shares of the utilities provider’s stock valued at $108,000 after purchasing an additional 6,728 shares in the last quarter. Magnetar Financial LLC bought a new position in Shenandoah Telecommunications in the second quarter worth $257,000. Finally, SG Americas Securities LLC acquired a new stake in Shenandoah Telecommunications during the third quarter worth $271,000. Institutional investors own 61.96% of the company’s stock.

Shenandoah Telecommunications Stock Up 1.8 %

Shares of SHEN opened at $13.15 on Thursday. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.36. The company has a 50-day moving average price of $13.80 and a two-hundred day moving average price of $15.81. The stock has a market cap of $717.99 million, a price-to-earnings ratio of 3.38 and a beta of 0.67. Shenandoah Telecommunications has a 12 month low of $11.87 and a 12 month high of $23.13.

Shenandoah Telecommunications Increases Dividend

The business also recently announced an annual dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 5th will be given a dividend of $0.10 per share. This represents a dividend yield of 0.66%. The ex-dividend date is Tuesday, November 5th. This is an increase from Shenandoah Telecommunications’s previous annual dividend of $0.09. Shenandoah Telecommunications’s dividend payout ratio (DPR) is 2.57%.

Wall Street Analysts Forecast Growth

Separately, BWS Financial restated a “buy” rating and issued a $26.00 price objective on shares of Shenandoah Telecommunications in a research note on Wednesday, November 13th.

Shenandoah Telecommunications Company Profile

Shenandoah Telecommunications Company, together with its subsidiaries, provides a range of broadband communication services and cell tower colocation space in the Mid-Atlantic portion of the United States. It operates in two segments, Broadband and Tower. The company Broadband segment offers broadband, video, and voice services to residential and commercial customers in Virginia, West Virginia, Maryland, Pennsylvania, and Kentucky through hybrid fiber coaxial cable under the Shentel brand; and fiber optic services under the Glo Fiber brand name.