Principal Financial Group Inc. boosted its position in Shenandoah Telecommunications (NASDAQ:SHEN) by 2.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,087 shares of the utilities provider’s stock after buying an additional 452 shares during the period. Principal Financial Group Inc.’s holdings in Shenandoah Telecommunications were worth $756,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. BlackRock Inc. boosted its position in Shenandoah Telecommunications by 2.4% in the third quarter. BlackRock Inc. now owns 3,404,804 shares of the utilities provider’s stock valued at $131,936,000 after buying an additional 81,378 shares during the last quarter. Geode Capital Management LLC boosted its position in Shenandoah Telecommunications by 6.5% in the fourth quarter. Geode Capital Management LLC now owns 530,558 shares of the utilities provider’s stock valued at $23,476,000 after buying an additional 32,327 shares during the last quarter. Prudential Financial Inc. boosted its position in Shenandoah Telecommunications by 72.3% in the fourth quarter. Prudential Financial Inc. now owns 341,143 shares of the utilities provider’s stock valued at $15,095,000 after buying an additional 143,156 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Shenandoah Telecommunications by 3.8% in the third quarter. Bank of New York Mellon Corp now owns 323,432 shares of the utilities provider’s stock valued at $12,534,000 after buying an additional 11,708 shares during the last quarter. Finally, AltraVue Capital LLC purchased a new stake in Shenandoah Telecommunications in the fourth quarter valued at approximately $7,650,000. Hedge funds and other institutional investors own 49.58% of the company’s stock.

In other Shenandoah Telecommunications news, VP Raymond B. Ostroski sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $45.76, for a total value of $457,600.00. Following the completion of the transaction, the vice president now directly owns 18,575 shares of the company’s stock, valued at $849,992. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 4.70% of the company’s stock.

SHEN has been the topic of a number of recent research reports. B. Riley upped their target price on Shenandoah Telecommunications from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Friday, March 1st. BidaskClub lowered Shenandoah Telecommunications from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, January 16th. BWS Financial reiterated a “buy” rating on shares of Shenandoah Telecommunications in a research report on Monday, January 28th. Zacks Investment Research upgraded Shenandoah Telecommunications from a “sell” rating to a “hold” rating in a research report on Tuesday, March 26th. Finally, ValuEngine downgraded Shenandoah Telecommunications from a “strong-buy” rating to a “buy” rating in a report on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $52.50.

Shares of NASDAQ:SHEN opened at $42.30 on Friday. Shenandoah Telecommunications has a 12-month low of $29.92 and a 12-month high of $51.41. The company has a market capitalization of $2.11 billion, a price-to-earnings ratio of 48.62 and a beta of 0.48. The company has a debt-to-equity ratio of 1.70, a current ratio of 2.37 and a quick ratio of 2.31.

Shenandoah Telecommunications (NASDAQ:SHEN) last announced its quarterly earnings results on Thursday, February 28th. The utilities provider reported $0.30 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.31 by ($0.01). Shenandoah Telecommunications had a net margin of 6.88% and a return on equity of 10.05%. The company had revenue of $161.48 million during the quarter, compared to analyst estimates of $160.76 million. On average, sell-side analysts anticipate that Shenandoah Telecommunications will post 1.35 EPS for the current year.

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Shenandoah Telecommunications Company 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.

Read More: Cost of Capital Explained

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

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