US Bancorp DE Holds Position in Shenandoah Telecommunications Co (SHEN)
US Bancorp DE held its stake in Shenandoah Telecommunications Co (NASDAQ:SHEN) during the second quarter, according to its most recent filing with the SEC. The fund owned 16,601 shares of the utilities provider’s stock at the end of the second quarter. US Bancorp DE’s holdings in Shenandoah Telecommunications were worth $510,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Guggenheim Capital LLC purchased a new stake in Shenandoah Telecommunications during the fourth quarter valued at $294,000. Norges Bank purchased a new stake in Shenandoah Telecommunications during the fourth quarter valued at $13,697,000. Teachers Advisors LLC increased its stake in Shenandoah Telecommunications by 2.0% in the fourth quarter. Teachers Advisors LLC now owns 77,399 shares of the utilities provider’s stock valued at $2,113,000 after buying an additional 1,527 shares during the last quarter. Creative Planning increased its stake in Shenandoah Telecommunications by 0.6% in the first quarter. Creative Planning now owns 16,102 shares of the utilities provider’s stock valued at $452,000 after buying an additional 100 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its stake in Shenandoah Telecommunications by 33.5% in the first quarter. Nisa Investment Advisors LLC now owns 18,420 shares of the utilities provider’s stock valued at $517,000 after buying an additional 4,620 shares during the last quarter. 49.32% of the stock is owned by institutional investors and hedge funds.
Shares of Shenandoah Telecommunications Co (SHEN) traded down 1.64% during midday trading on Thursday, hitting $35.95. The company had a trading volume of 34,377 shares. The stock’s 50-day moving average price is $31.77 and its 200-day moving average price is $30.13. Shenandoah Telecommunications Co has a 12 month low of $22.05 and a 12 month high of $36.80. The company’s market cap is $1.77 billion.
Shenandoah Telecommunications (NASDAQ:SHEN) last issued its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.07 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.06. The business had revenue of $153.30 million during the quarter, compared to the consensus estimate of $153.83 million. Shenandoah Telecommunications had a positive return on equity of 5.43% and a negative net margin of 0.89%. The firm’s revenue for the quarter was up 17.7% compared to the same quarter last year. On average, equities research analysts forecast that Shenandoah Telecommunications Co will post $0.10 EPS for the current year.
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SHEN has been the subject of several research analyst reports. TheStreet downgraded Shenandoah Telecommunications from a “b” rating to a “c+” rating in a report on Thursday, May 4th. Zacks Investment Research raised Shenandoah Telecommunications from a “hold” rating to a “buy” rating and set a $36.00 price objective for the company in a report on Thursday, May 11th. BidaskClub downgraded Shenandoah Telecommunications from a “hold” rating to a “sell” rating in a report on Saturday, June 24th. Finally, ValuEngine raised Shenandoah Telecommunications from a “sell” rating to a “hold” rating in a report on Thursday, August 10th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $35.50.
In related news, VP Raymond B. Ostroski sold 3,000 shares of the company’s stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $31.75, for a total transaction of $95,250.00. Following the completion of the transaction, the vice president now directly owns 21,621 shares in the company, valued at approximately $686,466.75. The sale was disclosed in a document filed with the SEC, which is available through this link. 7.24% of the stock is owned by corporate insiders.
Shenandoah Telecommunications Company Profile
Shenandoah Telecommunications Company is a telecommunications holding company. The Company’s segments are Wireless, Cable, Wireline and Other. The Company, through its operating subsidiaries, provides both regulated and unregulated telecommunications services to end user customers and other telecommunications providers in Virginia, West Virginia, central Pennsylvania, western Maryland, and portions of Kentucky and Ohio.
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