Schwab Charles Investment Management Inc. Buys 11,821 Shares of Shenandoah Telecommunications (SHEN)
Schwab Charles Investment Management Inc. boosted its stake in shares of Shenandoah Telecommunications (NASDAQ:SHEN) by 5.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 221,095 shares of the utilities provider’s stock after acquiring an additional 11,821 shares during the quarter. Schwab Charles Investment Management Inc. owned about 0.45% of Shenandoah Telecommunications worth $8,225,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently bought and sold shares of the business. Wells Fargo & Company MN lifted its position in Shenandoah Telecommunications by 28.1% during the 3rd quarter. Wells Fargo & Company MN now owns 85,915 shares of the utilities provider’s stock worth $3,196,000 after acquiring an additional 18,862 shares during the period. Amalgamated Bank acquired a new stake in Shenandoah Telecommunications during the 3rd quarter worth approximately $221,000. Trexquant Investment LP acquired a new stake in Shenandoah Telecommunications during the 3rd quarter worth approximately $218,000. Legal & General Group Plc lifted its position in Shenandoah Telecommunications by 14.5% during the 3rd quarter. Legal & General Group Plc now owns 22,014 shares of the utilities provider’s stock worth $820,000 after acquiring an additional 2,782 shares during the period. Finally, American International Group Inc. lifted its position in Shenandoah Telecommunications by 8.1% during the 3rd quarter. American International Group Inc. now owns 31,154 shares of the utilities provider’s stock worth $1,159,000 after acquiring an additional 2,330 shares during the period. 48.41% of the stock is owned by institutional investors.
Shares of Shenandoah Telecommunications (SHEN) opened at $33.85 on Wednesday. The company has a quick ratio of 1.28, a current ratio of 1.34 and a debt-to-equity ratio of 2.60. The company has a market capitalization of $1,670.00, a P/E ratio of 307.73 and a beta of 0.68. Shenandoah Telecommunications has a 1-year low of $25.35 and a 1-year high of $41.80.
Shenandoah Telecommunications (NASDAQ:SHEN) last posted its quarterly earnings results on Thursday, November 2nd. The utilities provider reported $0.07 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.08. The business had revenue of $151.80 million during the quarter, compared to analysts’ expectations of $153.64 million. Shenandoah Telecommunications had a return on equity of 4.04% and a net margin of 0.91%. The company’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same period last year, the firm earned ($0.16) EPS. sell-side analysts anticipate that Shenandoah Telecommunications will post 0.16 earnings per share for the current fiscal year.
Several analysts have recently commented on the company. TheStreet cut Shenandoah Telecommunications from a “b-” rating to a “c+” rating in a report on Friday, November 10th. Zacks Investment Research raised Shenandoah Telecommunications from a “sell” rating to a “hold” rating in a report on Wednesday, October 4th. Finally, BidaskClub cut Shenandoah Telecommunications from a “buy” rating to a “hold” rating in a report on Wednesday, December 6th. One analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $35.00.
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Shenandoah Telecommunications 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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