Intech Investment Management LLC Invests $1.11 Million in Shenandoah Telecommunications (NASDAQ:SHEN)

Intech Investment Management LLC acquired a new position in shares of Shenandoah Telecommunications (NASDAQ:SHEN - Free Report) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 78,849 shares of the utilities provider's stock, valued at approximately $1,113,000. Intech Investment Management LLC owned 0.14% of Shenandoah Telecommunications at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Shenandoah Telecommunications during the third quarter valued at $678,000. Quest Partners LLC lifted its position in Shenandoah Telecommunications by 741.0% during the third quarter. Quest Partners LLC now owns 7,636 shares of the utilities provider's stock valued at $108,000 after purchasing an additional 6,728 shares during the period. nVerses Capital LLC acquired a new position in Shenandoah Telecommunications during the third quarter valued at $37,000. Inspire Investing LLC lifted its position in Shenandoah Telecommunications by 34.3% during the third quarter. Inspire Investing LLC now owns 28,988 shares of the utilities provider's stock valued at $409,000 after purchasing an additional 7,407 shares during the period. Finally, SG Americas Securities LLC acquired a new position in Shenandoah Telecommunications during the third quarter valued at $271,000. 61.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Shenandoah Telecommunications Stock Performance

SHEN traded up $0.23 on Thursday, reaching $13.15. The stock had a trading volume of 147,684 shares, compared to its average volume of 198,305. The company has a market cap of $717.99 million, a P/E ratio of 3.38 and a beta of 0.67. The business's 50-day moving average price is $13.80 and its two-hundred day moving average price is $15.81. 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 has a 12-month low of $11.87 and a 12-month high of $23.13.

Shenandoah Telecommunications Increases Dividend

The business also recently announced an annual dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 5th will be paid a dividend of $0.10 per share. The ex-dividend date is Tuesday, November 5th. This represents a dividend yield of 0.66%. This is a boost from Shenandoah Telecommunications's previous annual dividend of $0.09. Shenandoah Telecommunications's payout ratio is currently 2.57%.

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.