Truist Financial Corp Reduces Holdings in Cable One, Inc. (NYSE:CABO)

Truist Financial Corp lowered its stake in shares of Cable One, Inc. (NYSE:CABO) by 22.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,604 shares of the company’s stock after selling 1,334 shares during the quarter. Truist Financial Corp owned about 0.08% of Cable One worth $1,630,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Canada Pension Plan Investment Board grew its holdings in shares of Cable One by 1,906.2% during the 1st quarter. Canada Pension Plan Investment Board now owns 160,496 shares of the company’s stock worth $67,911,000 after acquiring an additional 152,496 shares during the period. Burgundy Asset Management Ltd. grew its stake in Cable One by 42.4% in the second quarter. Burgundy Asset Management Ltd. now owns 290,662 shares of the company’s stock worth $102,894,000 after purchasing an additional 86,581 shares during the period. AQR Capital Management LLC raised its holdings in Cable One by 4,228.5% in the second quarter. AQR Capital Management LLC now owns 61,465 shares of the company’s stock worth $21,436,000 after purchasing an additional 60,045 shares in the last quarter. Private Management Group Inc. lifted its position in Cable One by 648.3% during the first quarter. Private Management Group Inc. now owns 66,559 shares of the company’s stock valued at $28,163,000 after buying an additional 57,664 shares during the period. Finally, Vanguard Group Inc. lifted its position in Cable One by 11.0% during the first quarter. Vanguard Group Inc. now owns 490,178 shares of the company’s stock valued at $207,409,000 after buying an additional 48,513 shares during the period. 89.92% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. increased their price target on shares of Cable One from $470.00 to $480.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 6th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $533.33.

Cable One Price Performance

Shares of NYSE:CABO opened at $339.37 on Friday. The business has a fifty day moving average price of $352.54 and a 200-day moving average price of $369.15. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.81 and a quick ratio of 1.81. The company has a market capitalization of $1.91 billion, a PE ratio of 7.99 and a beta of 0.84. Cable One, Inc. has a 1-year low of $311.28 and a 1-year high of $671.62.

Cable One (NYSE:CABO) last issued its earnings results on Thursday, August 1st. The company reported $8.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $10.36 by ($2.20). Cable One had a return on equity of 12.04% and a net margin of 15.31%. The firm had revenue of $394.46 million during the quarter, compared to analysts’ expectations of $400.64 million. During the same period last year, the firm posted $10.43 earnings per share. The firm’s quarterly revenue was down 7.0% on a year-over-year basis. As a group, equities analysts expect that Cable One, Inc. will post 30.99 EPS for the current fiscal year.

Cable One Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Tuesday, August 27th were issued a $2.95 dividend. This represents a $11.80 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date was Tuesday, August 27th. Cable One’s payout ratio is 27.78%.

About Cable One

Cable One, Inc, together with its subsidiaries, provides data, video, and voice services in the United States. The company offers residential data services, a service to enhance Wi-Fi signal throughout the home. It also provides various residential video services from basic video service to digital services with access to hundreds of channels; and provides a cloud-based DVR feature that does not require the use of a set-top boxes.