Texas Permanent School Fund Has $803,000 Stock Holdings in Shenandoah Telecommunications (NASDAQ:SHEN)

Texas Permanent School Fund boosted its position in Shenandoah Telecommunications (NASDAQ:SHENGet Rating) by 2.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 36,179 shares of the utilities provider’s stock after buying an additional 756 shares during the quarter. Texas Permanent School Fund’s holdings in Shenandoah Telecommunications were worth $803,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Lazard Asset Management LLC raised its position in Shenandoah Telecommunications by 45.4% in the 1st quarter. Lazard Asset Management LLC now owns 2,595 shares of the utilities provider’s stock valued at $61,000 after buying an additional 810 shares during the last quarter. KBC Group NV increased its position in shares of Shenandoah Telecommunications by 26.3% during the 1st quarter. KBC Group NV now owns 4,733 shares of the utilities provider’s stock worth $112,000 after purchasing an additional 985 shares during the last quarter. Captrust Financial Advisors increased its position in shares of Shenandoah Telecommunications by 28.7% during the 1st quarter. Captrust Financial Advisors now owns 5,027 shares of the utilities provider’s stock worth $119,000 after purchasing an additional 1,120 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of Shenandoah Telecommunications by 165.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,350 shares of the utilities provider’s stock worth $126,000 after purchasing an additional 3,338 shares during the last quarter. Finally, Hightower 6M Holding LLC acquired a new position in shares of Shenandoah Telecommunications during the 1st quarter worth approximately $222,000. Institutional investors and hedge funds own 54.95% of the company’s stock.

Shenandoah Telecommunications Stock Down 0.6 %

SHEN stock opened at $19.07 on Monday. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $955.37 million, a PE ratio of -211.89 and a beta of 0.62. Shenandoah Telecommunications has a 1-year low of $15.63 and a 1-year high of $28.11. The business’s 50 day simple moving average is $18.60 and its 200 day simple moving average is $21.02.

Shenandoah Telecommunications Increases Dividend

The firm also recently announced an annual dividend, which will be paid on Thursday, December 1st. Investors of record on Monday, November 7th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, November 4th. This is a positive change from Shenandoah Telecommunications’s previous annual dividend of $0.07. This represents a dividend yield of 0.39%. Shenandoah Telecommunications’s payout ratio is presently -88.89%.

Analyst Upgrades and Downgrades

SHEN has been the topic of several recent analyst reports. StockNews.com raised Shenandoah Telecommunications to a “sell” rating in a research report on Thursday, November 3rd. BWS Financial lowered their price target on Shenandoah Telecommunications from $16.00 to $15.00 and set a “sell” rating on the stock in a research report on Monday, November 7th.

Insider Buying and Selling

In related news, VP Heather K. Tormey sold 2,834 shares of the business’s stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $21.45, for a total transaction of $60,789.30. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.04% of the stock is owned by insiders.

Shenandoah Telecommunications Company Profile

(Get Rating)

Shenandoah Telecommunications Company, together with its subsidiaries, provides a range of broadband communication services and cell tower colocation space in the Mid-Atlantic portion of the United States. Its Broadband segment offers broadband, video, and voice services to residential and commercial customers in Virginia, West Virginia, Maryland, Pennsylvania, and Kentucky, via hybrid fiber coaxial cable under the Shentel brand, fiber optic services under the Glo Fiber brand, and fixed wireless network services under the Beam brand name.

Further Reading

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

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