Royal Bank of Canada grew its holdings in Consolidated Communications Holdings, Inc. (NASDAQ:CNSL) by 11.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,029,890 shares of the utilities provider’s stock after purchasing an additional 601,410 shares during the quarter. Royal Bank of Canada owned about 8.51% of Consolidated Communications Holdings worth $129,462,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Hanson McClain Inc. boosted its holdings in shares of Consolidated Communications Holdings by 0.3% during the 2nd quarter. Hanson McClain Inc. now owns 12,421 shares of the utilities provider’s stock worth $267,000 after purchasing an additional 38 shares during the last quarter. Farmers & Merchants Investments Inc. grew its position in shares of Consolidated Communications Holdings by 0.3% in the second quarter. Farmers & Merchants Investments Inc. now owns 20,288 shares of the utilities provider’s stock valued at $436,000 after purchasing an additional 64 shares in the last quarter. Louisiana State Employees Retirement System grew its position in shares of Consolidated Communications Holdings by 0.5% in the second quarter. Louisiana State Employees Retirement System now owns 20,700 shares of the utilities provider’s stock valued at $444,000 after purchasing an additional 100 shares in the last quarter. Arizona State Retirement System increased its holdings in shares of Consolidated Communications Holdings by 0.4% in the second quarter. Arizona State Retirement System now owns 26,462 shares of the utilities provider’s stock valued at $568,000 after purchasing an additional 100 shares during the last quarter. Finally, ETRADE Capital Management LLC increased its holdings in shares of Consolidated Communications Holdings by 2.5% in the second quarter. ETRADE Capital Management LLC now owns 14,603 shares of the utilities provider’s stock valued at $314,000 after purchasing an additional 362 shares during the last quarter. 67.72% of the stock is currently owned by institutional investors and hedge funds.

Consolidated Communications Holdings, Inc. (NASDAQ CNSL) traded up 1.214% during mid-day trading on Tuesday, hitting $19.595. 63,603 shares of the stock traded hands. The company has a market cap of $1.39 billion, a price-to-earnings ratio of 6531.667 and a beta of 0.90. The stock’s 50 day moving average is $18.67 and its 200-day moving average is $20.55. Consolidated Communications Holdings, Inc. has a 12 month low of $17.21 and a 12 month high of $30.23.

Consolidated Communications Holdings (NASDAQ:CNSL) last announced its earnings results on Thursday, August 3rd. The utilities provider reported $0.16 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.03. The firm had revenue of $169.95 million for the quarter, compared to analyst estimates of $169.69 million. Consolidated Communications Holdings had a net margin of 0.09% and a return on equity of 15.30%. Consolidated Communications Holdings’s revenue was down 9.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.20 earnings per share. On average, equities research analysts anticipate that Consolidated Communications Holdings, Inc. will post $0.55 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Sunday, October 15th will be issued a $0.3874 dividend. The ex-dividend date is Thursday, October 12th. This represents a $1.55 annualized dividend and a yield of 8.00%. Consolidated Communications Holdings’s dividend payout ratio (DPR) is presently 15,500.00%.

A number of equities analysts recently commented on the company. Citigroup Inc. upgraded Consolidated Communications Holdings from a “sell” rating to a “neutral” rating in a research report on Wednesday, June 7th. UBS AG upgraded Consolidated Communications Holdings to a “strong-buy” rating in a report on Friday, June 9th. Raymond James Financial, Inc. upgraded Consolidated Communications Holdings from an “outperform” rating to a “strong-buy” rating and set a $26.00 target price for the company in a report on Friday, June 9th. BidaskClub raised Consolidated Communications Holdings from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Finally, Zacks Investment Research raised Consolidated Communications Holdings from a “sell” rating to a “hold” rating in a research note on Tuesday, July 4th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, two have given a buy rating and two have issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $25.60.

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In other Consolidated Communications Holdings news, Director Robert J. Currey acquired 5,000 shares of the firm’s stock in a transaction dated Wednesday, August 9th. The shares were acquired at an average price of $19.33 per share, for a total transaction of $96,650.00. Following the completion of the acquisition, the director now directly owns 48,495 shares of the company’s stock, valued at $937,408.35. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Timothy D. Taron acquired 2,500 shares of the stock in a transaction dated Wednesday, August 16th. The stock was acquired at an average cost of $19.10 per share, with a total value of $47,750.00. Following the transaction, the director now owns 3,159 shares of the company’s stock, valued at $60,336.90. The disclosure for this purchase can be found here. Insiders acquired a total of 26,688 shares of company stock valued at $495,724 over the last quarter. 3.00% of the stock is currently owned by insiders.

Consolidated Communications Holdings Profile

Consolidated Communications Holdings, Inc is a holding company with operating subsidiaries that provide integrated communications services in consumer, commercial and carrier channels in California, Illinois, Iowa, Kansas, Minnesota, Missouri, North Dakota, Pennsylvania, South Dakota, Texas and Wisconsin.

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Institutional Ownership by Quarter for Consolidated Communications Holdings (NASDAQ:CNSL)

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