Shenandoah Telecommunications (NASDAQ:SHEN) Shares Purchased by Barclays PLC

Barclays PLC lifted its stake in Shenandoah Telecommunications (NASDAQ:SHEN) by 339.4% in the third quarter, HoldingsChannel reports. The fund owned 80,151 shares of the utilities provider’s stock after purchasing an additional 61,910 shares during the quarter. Barclays PLC’s holdings in Shenandoah Telecommunications were worth $1,131,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Dimensional Fund Advisors LP raised its position in Shenandoah Telecommunications by 1.2% in the second quarter. Dimensional Fund Advisors LP now owns 2,576,290 shares of the utilities provider’s stock worth $42,070,000 after acquiring an additional 29,413 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its stake in Shenandoah Telecommunications by 99.9% during the second quarter. Mercer Global Advisors Inc. ADV now owns 101,288 shares of the utilities provider’s stock valued at $1,654,000 after purchasing an additional 50,630 shares during the last quarter. Inspire Investing LLC boosted its holdings in Shenandoah Telecommunications by 5.6% during the second quarter. Inspire Investing LLC now owns 21,581 shares of the utilities provider’s stock worth $352,000 after buying an additional 1,138 shares in the last quarter. Gabelli Funds LLC grew its position in Shenandoah Telecommunications by 11.5% in the second quarter. Gabelli Funds LLC now owns 140,500 shares of the utilities provider’s stock worth $2,294,000 after buying an additional 14,500 shares during the last quarter. Finally, Public Sector Pension Investment Board increased its holdings in shares of Shenandoah Telecommunications by 5.8% in the second quarter. Public Sector Pension Investment Board now owns 110,379 shares of the utilities provider’s stock valued at $1,802,000 after buying an additional 6,072 shares in the last quarter. 61.96% of the stock is currently owned by institutional investors.

Shenandoah Telecommunications Trading Down 2.0 %

Shares of NASDAQ SHEN opened at $11.74 on Tuesday. The business has a 50 day simple moving average of $13.03 and a 200 day simple moving average of $14.81. Shenandoah Telecommunications has a 52 week low of $11.57 and a 52 week high of $22.27. The stock has a market cap of $641.03 million, a price-to-earnings ratio of 3.02 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.

Shenandoah Telecommunications Increases Dividend

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

Wall Street Analysts Forecast Growth

Separately, BWS Financial reissued a “buy” rating and issued a $26.00 price target on shares of Shenandoah Telecommunications in a research note 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.