Virginia Retirement Systems ET AL Decreases Stake in Shenandoah Telecommunications Co (SHEN)

Virginia Retirement Systems ET AL reduced its holdings in Shenandoah Telecommunications Co (NASDAQ:SHEN) by 51.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,100 shares of the utilities provider’s stock after selling 9,700 shares during the period. Virginia Retirement Systems ET AL’s holdings in Shenandoah Telecommunications were worth $279,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of SHEN. Teachers Advisors LLC lifted its stake in shares of Shenandoah Telecommunications by 2.0% in the fourth quarter. Teachers Advisors LLC now owns 77,399 shares of the utilities provider’s stock worth $2,113,000 after buying an additional 1,527 shares in the last quarter. Nisa Investment Advisors LLC increased its position in Shenandoah Telecommunications by 33.5% during the first quarter. Nisa Investment Advisors LLC now owns 18,420 shares of the utilities provider’s stock worth $517,000 after purchasing an additional 4,620 shares during the last quarter. DUPONT CAPITAL MANAGEMENT Corp acquired a new stake in Shenandoah Telecommunications during the first quarter worth about $408,000. First Trust Advisors LP increased its position in Shenandoah Telecommunications by 32.4% during the first quarter. First Trust Advisors LP now owns 58,034 shares of the utilities provider’s stock worth $1,628,000 after purchasing an additional 14,205 shares during the last quarter. Finally, Suntrust Banks Inc. increased its position in Shenandoah Telecommunications by 7.6% during the first quarter. Suntrust Banks Inc. now owns 9,596 shares of the utilities provider’s stock worth $269,000 after purchasing an additional 681 shares during the last quarter. 49.26% of the stock is currently owned by hedge funds and other institutional investors.

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Shares of Shenandoah Telecommunications Co (SHEN) opened at 33.35 on Tuesday. The firm’s market capitalization is $1.64 billion. The company’s 50-day moving average is $34.63 and its 200 day moving average is $31.11. Shenandoah Telecommunications Co has a 52-week low of $22.05 and a 52-week high of $37.90.

Shenandoah Telecommunications (NASDAQ:SHEN) last released its earnings results on Wednesday, August 2nd. The utilities provider reported $0.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.06. The company had revenue of $153.30 million for the quarter, compared to analyst estimates of $153.83 million. Shenandoah Telecommunications had a negative net margin of 0.89% and a positive return on equity of 5.43%. The firm’s revenue for the quarter was up 17.7% on a year-over-year basis. Equities analysts expect that Shenandoah Telecommunications Co will post $0.10 earnings per share for the current fiscal year.

Several equities research analysts recently issued reports on the stock. BidaskClub cut shares of Shenandoah Telecommunications from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th. Zacks Investment Research cut shares of Shenandoah Telecommunications from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. Finally, ValuEngine upgraded shares of Shenandoah Telecommunications from a “sell” rating to a “hold” rating in a research report on Thursday, August 10th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $35.50.

Shenandoah Telecommunications Company 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.

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

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