Geode Capital Management LLC Sells 40,558 Shares of Shenandoah Telecommunications (NASDAQ:SHEN)

Geode Capital Management LLC cut its stake in shares of Shenandoah Telecommunications (NASDAQ:SHEN - Free Report) by 3.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,124,123 shares of the utilities provider's stock after selling 40,558 shares during the quarter. Geode Capital Management LLC owned approximately 2.06% of Shenandoah Telecommunications worth $15,865,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SHEN. Inspire Investing LLC lifted its holdings in Shenandoah Telecommunications by 5.6% in the 2nd quarter. Inspire Investing LLC now owns 21,581 shares of the utilities provider's stock worth $352,000 after purchasing an additional 1,138 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Shenandoah Telecommunications by 8.7% in the second quarter. The Manufacturers Life Insurance Company now owns 26,785 shares of the utilities provider's stock worth $437,000 after buying an additional 2,155 shares in the last quarter. nVerses Capital LLC bought a new position in shares of Shenandoah Telecommunications during the 3rd quarter valued at about $37,000. Public Sector Pension Investment Board boosted its stake in Shenandoah Telecommunications by 5.8% during 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 during the last quarter. Finally, Quantbot Technologies LP grew its holdings in shares of Shenandoah Telecommunications by 570.2% in the third quarter. Quantbot Technologies LP now owns 7,339 shares of the utilities provider's stock valued at $104,000 after purchasing an additional 6,244 shares in the last quarter. 61.96% of the stock is owned by hedge funds and other institutional investors.

Shenandoah Telecommunications Trading Down 0.2 %

Shares of NASDAQ:SHEN traded down $0.02 during trading hours on Monday, hitting $12.42. 243,561 shares of the company's stock traded hands, compared to its average volume of 203,335. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.79 and a quick ratio of 0.79. The business has a fifty day moving average price of $13.46 and a 200-day moving average price of $15.06. Shenandoah Telecommunications has a 1 year low of $11.87 and a 1 year high of $22.27. The firm has a market capitalization of $678.16 million, a P/E ratio of 3.19 and a beta of 0.63.

Shenandoah Telecommunications Increases Dividend

The firm 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. This is an increase from Shenandoah Telecommunications's previous annual dividend of $0.09. The ex-dividend date was Tuesday, November 5th. This represents a yield of 0.66%. Shenandoah Telecommunications's dividend payout ratio (DPR) is 2.57%.

Analyst Ratings Changes

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 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.