UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $1.95 Million Holdings in Shenandoah Telecommunications (NASDAQ:SHEN)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its position in Shenandoah Telecommunications (NASDAQ:SHEN) by 3.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 138,304 shares of the utilities provider’s stock after selling 4,409 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Shenandoah Telecommunications were worth $1,951,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of SHEN. GCM Grosvenor Holdings LLC bought a new stake in Shenandoah Telecommunications in the 2nd quarter valued at $66,959,000. Intech Investment Management LLC acquired a new stake in shares of Shenandoah Telecommunications during the 3rd quarter valued at about $1,113,000. FMR LLC increased its stake in Shenandoah Telecommunications by 211.9% in the third quarter. FMR LLC now owns 105,789 shares of the utilities provider’s stock valued at $1,493,000 after acquiring an additional 71,868 shares during the period. Mercer Global Advisors Inc. ADV raised its position in Shenandoah Telecommunications by 99.9% in the second quarter. Mercer Global Advisors Inc. ADV now owns 101,288 shares of the utilities provider’s stock worth $1,654,000 after purchasing an additional 50,630 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in Shenandoah Telecommunications during the third quarter worth about $678,000. 61.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, BWS Financial reiterated a “buy” rating and issued a $26.00 price objective on shares of Shenandoah Telecommunications in a research note on Wednesday, November 13th.

Shenandoah Telecommunications Stock Down 1.4 %

SHEN opened at $13.26 on Monday. The firm has a market cap of $724.00 million, a price-to-earnings ratio of 3.41 and a beta of 0.63. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.79 and a current ratio of 0.79. The firm’s 50-day simple moving average is $13.58 and its 200-day simple moving average is $15.46. Shenandoah Telecommunications has a twelve month low of $11.87 and a twelve month high of $22.27.

Shenandoah Telecommunications Increases Dividend

The company also recently disclosed an annual dividend, which was paid on Monday, December 2nd. Shareholders of record on Tuesday, November 5th were paid a dividend of $0.10 per share. This represents a yield of 0.66%. This is a boost from Shenandoah Telecommunications’s previous annual dividend of $0.09. The ex-dividend date of this dividend was Tuesday, November 5th. Shenandoah Telecommunications’s dividend payout ratio is currently 2.57%.

Shenandoah Telecommunications Profile

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. It operates in two segments, Broadband and Tower. The company Broadband segment offers broadband, video, and voice services to residential and commercial customers in Virginia, West Virginia, Maryland, Pennsylvania, and Kentucky through hybrid fiber coaxial cable under the Shentel brand; and fiber optic services under the Glo Fiber brand name.