New York State Common Retirement Fund Has $1.10 Million Stake in Shenandoah Telecommunications (NASDAQ:SHEN)

New York State Common Retirement Fund trimmed its holdings in shares of Shenandoah Telecommunications (NASDAQ:SHEN) by 16.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 34,792 shares of the utilities provider’s stock after selling 7,010 shares during the quarter. New York State Common Retirement Fund owned about 0.07% of Shenandoah Telecommunications worth $1,099,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. SG Americas Securities LLC increased its position in Shenandoah Telecommunications by 6,464.5% during the third quarter. SG Americas Securities LLC now owns 142,582 shares of the utilities provider’s stock worth $4,503,000 after buying an additional 140,410 shares during the last quarter. Maryland State Retirement & Pension System acquired a new position in Shenandoah Telecommunications during the third quarter worth $632,000. Janney Montgomery Scott LLC bought a new stake in Shenandoah Telecommunications during the third quarter valued at about $972,000. Emerald Mutual Fund Advisers Trust boosted its holdings in Shenandoah Telecommunications by 77.4% during the third quarter. Emerald Mutual Fund Advisers Trust now owns 164,867 shares of the utilities provider’s stock valued at $5,206,000 after acquiring an additional 71,950 shares during the period. Finally, Emerald Advisers LLC boosted its holdings in Shenandoah Telecommunications by 108.3% during the third quarter. Emerald Advisers LLC now owns 6,579 shares of the utilities provider’s stock valued at $208,000 after acquiring an additional 3,420 shares during the period. 54.54% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ SHEN opened at $24.39 on Friday. The firm has a 50-day simple moving average of $26.31 and a 200 day simple moving average of $32.92. Shenandoah Telecommunications has a twelve month low of $24.36 and a twelve month high of $61.53. The stock has a market cap of $1.22 billion, a PE ratio of 1.17 and a beta of 0.23.

Shenandoah Telecommunications (NASDAQ:SHEN) last released its earnings results on Thursday, October 28th. The utilities provider reported $0.13 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.11) by $0.24. Shenandoah Telecommunications had a net margin of 434.98% and a return on equity of 2.07%. The business had revenue of $62.24 million during the quarter, compared to analysts’ expectations of $61.91 million. During the same quarter last year, the company earned $0.03 earnings per share. On average, sell-side analysts predict that Shenandoah Telecommunications will post 0.28 earnings per share for the current year.

The firm also recently declared an annual dividend, which was paid on Wednesday, December 1st. Investors of record on Monday, November 8th were given a $0.07 dividend. This represents a yield of 0.26%. The ex-dividend date of this dividend was Friday, November 5th. Shenandoah Telecommunications’s dividend payout ratio (DPR) is presently 0.34%.

A number of research firms have issued reports on SHEN. B. Riley decreased their price target on shares of Shenandoah Telecommunications from $43.00 to $40.00 in a report on Wednesday. Raymond James upgraded shares of Shenandoah Telecommunications from a “market perform” rating to an “outperform” rating and set a $29.00 price target for the company in a report on Tuesday, December 14th. Finally, Zacks Investment Research cut shares of Shenandoah Telecommunications from a “hold” rating to a “sell” rating in a report on Friday.

Shenandoah Telecommunications Profile

Shenandoah Telecommunications Co operates as a holding company, which engages in the provision of regulated and unregulated telecommunication services to end-user customers and other telecommunications providers. It offers voice, video and data communications services. It operates through the following segments: Wireless, Broadband and Tower.

Read More: Overweight

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

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