Barclays PLC Increases Position in Shenandoah Telecommunications (NASDAQ:SHEN)

Barclays PLC raised its stake in Shenandoah Telecommunications (NASDAQ:SHEN) by 339.4% during the 3rd quarter, Holdings Channel.com reports. The firm owned 80,151 shares of the utilities provider’s stock after buying an additional 61,910 shares during the quarter. Barclays PLC’s holdings in Shenandoah Telecommunications were worth $1,131,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Jane Street Group LLC grew its position in Shenandoah Telecommunications by 101.2% during the 3rd quarter. Jane Street Group LLC now owns 95,703 shares of the utilities provider’s stock worth $1,350,000 after purchasing an additional 48,127 shares during the last quarter. Paloma Partners Management Co acquired a new stake in shares of Shenandoah Telecommunications in the third quarter worth $336,000. Quantbot Technologies LP increased its stake in shares of Shenandoah Telecommunications by 570.2% in the third quarter. Quantbot Technologies LP now owns 7,339 shares of the utilities provider’s stock worth $104,000 after acquiring an additional 6,244 shares during the period. FMR LLC raised its holdings in shares of Shenandoah Telecommunications by 211.9% during the third quarter. FMR LLC now owns 105,789 shares of the utilities provider’s stock worth $1,493,000 after purchasing an additional 71,868 shares during the last quarter. Finally, Intech Investment Management LLC acquired a new position in Shenandoah Telecommunications in the third quarter valued at approximately $1,113,000. Hedge funds and other institutional investors own 61.96% of the company’s stock.

Shenandoah Telecommunications Price Performance

NASDAQ:SHEN opened at $12.44 on Monday. The firm has a market cap of $679.25 million, a P/E ratio of 3.20 and a beta of 0.63. The stock has a 50 day moving average of $13.48 and a two-hundred day moving average of $15.09. Shenandoah Telecommunications has a 12 month low of $11.87 and a 12 month high of $22.27. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.36.

Shenandoah Telecommunications Increases Dividend

The firm also recently announced 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%. The ex-dividend date of this dividend was Tuesday, November 5th. This is a boost from Shenandoah Telecommunications’s previous annual dividend of $0.09. Shenandoah Telecommunications’s payout ratio is 2.57%.

Wall Street Analyst Weigh In

Separately, BWS Financial reissued a “buy” rating and set a $26.00 price target on shares of Shenandoah Telecommunications in a report on Wednesday, November 13th.

Shenandoah Telecommunications Company 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.