Fmr LLC Acquires 71,868 Shares of Shenandoah Telecommunications (NASDAQ:SHEN)

FMR LLC lifted its stake in Shenandoah Telecommunications (NASDAQ:SHEN - Free Report) by 211.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 105,789 shares of the utilities provider's stock after buying an additional 71,868 shares during the period. FMR LLC owned approximately 0.19% of Shenandoah Telecommunications worth $1,493,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. nVerses Capital LLC purchased a new position in Shenandoah Telecommunications in the 3rd quarter worth approximately $37,000. Quest Partners LLC increased its holdings in Shenandoah Telecommunications by 741.0% during the 3rd 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. Magnetar Financial LLC bought a new position in shares of Shenandoah Telecommunications during the second quarter valued at approximately $257,000. SG Americas Securities LLC purchased a new stake in shares of Shenandoah Telecommunications in the 3rd quarter worth about $271,000. Finally, Inspire Investing LLC boosted its stake in shares of Shenandoah Telecommunications by 5.6% during the 2nd quarter. Inspire Investing LLC now owns 21,581 shares of the utilities provider's stock valued at $352,000 after purchasing an additional 1,138 shares in the last quarter. Institutional investors own 61.96% of the company's stock.

Shenandoah Telecommunications Stock Up 2.8 %

Shenandoah Telecommunications stock traded up $0.37 on Monday, hitting $13.63. 212,409 shares of the stock traded hands, compared to its average volume of 197,442. Shenandoah Telecommunications has a 1 year low of $11.87 and a 1 year high of $22.27. The firm has a market cap of $744.20 million, a P/E ratio of 3.44 and a beta of 0.63. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.36. The business's fifty day simple moving average is $13.58 and its 200 day simple moving average is $15.44.

Shenandoah Telecommunications Increases Dividend

The firm also recently announced an annual dividend, which was paid on Monday, December 2nd. Stockholders of record on Tuesday, November 5th were issued a dividend of $0.10 per share. This represents a dividend yield of 0.66%. This is a positive change from Shenandoah Telecommunications's previous annual dividend of $0.09. The ex-dividend date of this dividend was Tuesday, November 5th. Shenandoah Telecommunications's dividend payout ratio (DPR) is presently 2.57%.

Analysts Set New Price Targets

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

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.