Great West Life Assurance Co. Can increased its stake in shares of Consolidated Communications Holdings, Inc. (NASDAQ:CNSL) by 3.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,624 shares of the utilities provider’s stock after buying an additional 2,600 shares during the period. Great West Life Assurance Co. Can owned approximately 0.15% of Consolidated Communications Holdings worth $1,580,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of CNSL. Ameritas Investment Partners Inc. bought a new position in Consolidated Communications Holdings during the first quarter valued at $100,000. State of Alaska Department of Revenue raised its position in Consolidated Communications Holdings by 2.0% in the first quarter. State of Alaska Department of Revenue now owns 5,590 shares of the utilities provider’s stock valued at $130,000 after buying an additional 110 shares during the last quarter. Park Avenue Securities LLC bought a new position in Consolidated Communications Holdings during the second quarter valued at $254,000. Municipal Employees Retirement System of Michigan raised its position in Consolidated Communications Holdings by 3.8% in the second quarter. Municipal Employees Retirement System of Michigan now owns 11,950 shares of the utilities provider’s stock valued at $257,000 after buying an additional 440 shares during the last quarter. Finally, IFP Advisors Inc raised its position in Consolidated Communications Holdings by 12.4% in the first quarter. IFP Advisors Inc now owns 11,475 shares of the utilities provider’s stock valued at $269,000 after buying an additional 1,270 shares during the last quarter. Institutional investors own 67.72% of the company’s stock.

Consolidated Communications Holdings, Inc. (NASDAQ CNSL) opened at 19.11 on Wednesday. The firm’s 50-day moving average price is $18.78 and its 200 day moving average price is $21.60. Consolidated Communications Holdings, Inc. has a 12 month low of $17.41 and a 12 month high of $30.23. The stock has a market cap of $1.35 billion, a price-to-earnings ratio of 6370.00 and a beta of 0.91.

Consolidated Communications Holdings (NASDAQ:CNSL) last released its earnings results on Thursday, August 3rd. The utilities provider reported $0.16 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.03. Consolidated Communications Holdings had a return on equity of 15.30% and a net margin of 0.09%. The firm had revenue of $169.95 million during the quarter, compared to analysts’ expectations of $169.69 million. During the same period in the previous year, the firm posted $0.20 EPS. Consolidated Communications Holdings’s revenue for the quarter was down 9.1% on a year-over-year basis. On average, analysts anticipate that Consolidated Communications Holdings, Inc. will post $0.55 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Sunday, October 15th will be paid a dividend of $0.3874 per share. The ex-dividend date is Thursday, October 12th. This represents a $1.55 annualized dividend and a yield of 8.11%. Consolidated Communications Holdings’s payout ratio is 15,500.00%.

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Several research firms recently weighed in on CNSL. BidaskClub upgraded shares of Consolidated Communications Holdings from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Zacks Investment Research downgraded shares of Consolidated Communications Holdings from a “hold” rating to a “sell” rating in a report on Tuesday, May 30th. UBS AG raised shares of Consolidated Communications Holdings to a “strong-buy” rating in a report on Friday, June 9th. Cowen and Company reaffirmed a “hold” rating and set a $22.00 price objective on shares of Consolidated Communications Holdings in a report on Friday, July 28th. Finally, Raymond James Financial, Inc. raised shares of Consolidated Communications Holdings from an “outperform” rating to a “strong-buy” rating and set a $26.00 price objective on the stock in a report on Friday, June 9th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and two have given a strong buy rating to the stock. Consolidated Communications Holdings currently has a consensus rating of “Hold” and a consensus price target of $25.60.

In related news, Director Robert J. Currey bought 5,000 shares of the stock in a transaction that occurred on Wednesday, August 9th. The stock was purchased at an average cost of $19.33 per share, with a total value of $96,650.00. Following the purchase, the director now directly owns 48,495 shares of the company’s stock, valued at approximately $937,408.35. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Timothy D. Taron bought 2,500 shares of the stock in a transaction that occurred on Wednesday, August 16th. The shares were bought at an average cost of $19.10 per share, with a total value of $47,750.00. Following the completion of the purchase, the director now directly owns 3,159 shares in the company, valued at $60,336.90. The disclosure for this purchase can be found here. Insiders have purchased a total of 16,688 shares of company stock valued at $319,014 over the last three months. 3.00% of the stock is currently owned by insiders.

About Consolidated Communications Holdings

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.

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

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