AltraVue Capital LLC reduced its holdings in Shenandoah Telecommunications (NASDAQ:SHEN) by 4.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 164,851 shares of the utilities provider’s stock after selling 8,040 shares during the period. Shenandoah Telecommunications makes up 4.1% of AltraVue Capital LLC’s holdings, making the stock its 6th biggest position. AltraVue Capital LLC’s holdings in Shenandoah Telecommunications were worth $7,312,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Bank of New York Mellon Corp raised its holdings in Shenandoah Telecommunications by 3.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 323,432 shares of the utilities provider’s stock valued at $12,534,000 after acquiring an additional 11,708 shares during the period. Teachers Advisors LLC raised its holdings in Shenandoah Telecommunications by 2.1% during the 3rd quarter. Teachers Advisors LLC now owns 89,774 shares of the utilities provider’s stock valued at $3,479,000 after acquiring an additional 1,886 shares during the period. Federated Investors Inc. PA raised its holdings in Shenandoah Telecommunications by 83.2% during the 3rd quarter. Federated Investors Inc. PA now owns 92,873 shares of the utilities provider’s stock valued at $3,599,000 after acquiring an additional 42,189 shares during the period. TIAA CREF Investment Management LLC raised its holdings in Shenandoah Telecommunications by 0.4% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 104,166 shares of the utilities provider’s stock valued at $4,036,000 after acquiring an additional 428 shares during the period. Finally, Meeder Asset Management Inc. bought a new stake in Shenandoah Telecommunications during the 4th quarter valued at $40,000. 49.31% of the stock is currently owned by hedge funds and other institutional investors.
SHEN has been the topic of several research analyst reports. BidaskClub cut shares of Shenandoah Telecommunications from a “strong-buy” rating to a “buy” rating in a report on Wednesday, January 16th. BWS Financial reaffirmed a “buy” rating on shares of Shenandoah Telecommunications in a report on Monday, January 28th. B. Riley upped their price target on shares of Shenandoah Telecommunications from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Friday, March 1st. Zacks Investment Research cut shares of Shenandoah Telecommunications from a “hold” rating to a “sell” rating in a report on Tuesday, March 19th. Finally, Macquarie reaffirmed a “hold” rating and issued a $47.00 price target on shares of Shenandoah Telecommunications in a report on Sunday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $50.67.
Shenandoah Telecommunications (NASDAQ:SHEN) last released its quarterly earnings results on Thursday, May 9th. The utilities provider reported $0.28 earnings per share for the quarter, hitting the consensus estimate of $0.28. The firm had revenue of $158.84 million for the quarter, compared to analysts’ expectations of $163.97 million. Shenandoah Telecommunications had a net margin of 8.23% and a return on equity of 11.98%. As a group, sell-side analysts anticipate that Shenandoah Telecommunications will post 1.35 earnings per share for the current year.
In other news, VP Raymond B. Ostroski sold 10,000 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $45.76, for a total value of $457,600.00. Following the transaction, the vice president now owns 18,575 shares of the company’s stock, valued at $849,992. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 4.70% of the company’s stock.
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Shenandoah Telecommunications Profile
Shenandoah Telecommunications Company, through its subsidiaries, primarily provides wireless, cable, and wireline telecommunications services to customers and other telecommunications providers. The company operates in three segments: Wireless, Cable, and Wireline. The Wireless segment provides digital wireless mobile services; and wireless mobility communications network products and services.
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