Strs Ohio Has $711,000 Stock Position in Shenandoah Telecommunications (NASDAQ:SHEN)

Strs Ohio lowered its position in Shenandoah Telecommunications (NASDAQ:SHEN) by 2.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,900 shares of the utilities provider’s stock after selling 1,000 shares during the period. Strs Ohio owned about 0.07% of Shenandoah Telecommunications worth $711,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Illinois Municipal Retirement Fund bought a new stake in shares of Shenandoah Telecommunications in the third quarter worth about $650,000. American Century Companies Inc. raised its holdings in Shenandoah Telecommunications by 25.6% during the 3rd quarter. American Century Companies Inc. now owns 445,005 shares of the utilities provider’s stock worth $9,172,000 after buying an additional 90,695 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Shenandoah Telecommunications by 7.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 709,168 shares of the utilities provider’s stock valued at $14,616,000 after buying an additional 51,827 shares in the last quarter. Handelsbanken Fonder AB acquired a new position in shares of Shenandoah Telecommunications in the third quarter valued at approximately $205,000. Finally, Corton Capital Inc. increased its position in shares of Shenandoah Telecommunications by 23.7% during the third quarter. Corton Capital Inc. now owns 23,881 shares of the utilities provider’s stock worth $492,000 after acquiring an additional 4,582 shares in the last quarter. Institutional investors and hedge funds own 61.96% of the company’s stock.

Shenandoah Telecommunications Stock Down 1.6 %

NASDAQ:SHEN opened at $13.95 on Friday. The company has a market cap of $703.78 million, a PE ratio of 87.19 and a beta of 0.52. The stock has a 50-day simple moving average of $17.09 and a 200 day simple moving average of $20.12. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.79 and a current ratio of 1.79. Shenandoah Telecommunications has a 52-week low of $13.48 and a 52-week high of $25.51.

Shenandoah Telecommunications (NASDAQ:SHEN) last posted its quarterly earnings data on Wednesday, February 21st. The utilities provider reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.06. Shenandoah Telecommunications had a net margin of 2.80% and a return on equity of 1.24%. The company had revenue of $72.51 million for the quarter, compared to the consensus estimate of $71.85 million. During the same period last year, the company earned ($0.04) earnings per share. On average, sell-side analysts expect that Shenandoah Telecommunications will post -0.05 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, BWS Financial raised shares of Shenandoah Telecommunications from a “neutral” rating to a “buy” rating and set a $26.00 price objective on the stock in a research report on Monday, March 4th.

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.