Thrivent Financial for Lutherans Sells 5,661 Shares of Shenandoah Telecommunications (NASDAQ:SHEN)

Thrivent Financial for Lutherans decreased its holdings in shares of Shenandoah Telecommunications (NASDAQ:SHEN) by 13.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 35,998 shares of the utilities provider’s stock after selling 5,661 shares during the quarter. Thrivent Financial for Lutherans owned about 0.07% of Shenandoah Telecommunications worth $508,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of SHEN. nVerses Capital LLC purchased a new position in Shenandoah Telecommunications in the 3rd quarter worth about $37,000. GAMMA Investing LLC increased its stake in Shenandoah Telecommunications by 85.1% in the 2nd quarter. GAMMA Investing LLC now owns 4,599 shares of the utilities provider’s stock worth $75,000 after buying an additional 2,115 shares during the period. Magnetar Financial LLC purchased a new position in Shenandoah Telecommunications in the 2nd quarter worth about $257,000. SG Americas Securities LLC purchased a new position in Shenandoah Telecommunications in the 3rd quarter worth about $271,000. Finally, Inspire Investing LLC increased its stake 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 buying an additional 1,138 shares during the period. Hedge funds and other institutional investors own 61.96% of the company’s stock.

Shenandoah Telecommunications Stock Down 2.7 %

SHEN stock opened at $13.54 on Friday. The firm has a 50 day moving average of $13.60 and a 200 day moving average of $15.65. The stock has a market capitalization of $739.28 million, a PE ratio of 3.48 and a beta of 0.63. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.36. Shenandoah Telecommunications has a 52 week low of $11.87 and a 52 week high of $22.27.

Shenandoah Telecommunications Increases Dividend

The firm also recently declared 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. The ex-dividend date of this dividend was Tuesday, November 5th. This is a positive change from Shenandoah Telecommunications’s previous annual dividend of $0.09. This represents a yield of 0.66%. Shenandoah Telecommunications’s dividend payout ratio (DPR) is currently 2.57%.

Wall Street Analysts Forecast Growth

Separately, BWS Financial reiterated a “buy” rating and set a $26.00 target price on shares of Shenandoah Telecommunications in a 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.