Barclays PLC Acquires 61,910 Shares of Shenandoah Telecommunications (NASDAQ:SHEN)

Barclays PLC grew its holdings in shares of Shenandoah Telecommunications (NASDAQ:SHEN) by 339.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 80,151 shares of the utilities provider’s stock after acquiring an additional 61,910 shares during the period. Barclays PLC owned about 0.15% of Shenandoah Telecommunications worth $1,131,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Bank of New York Mellon Corp raised its holdings in Shenandoah Telecommunications by 3.0% during the second quarter. Bank of New York Mellon Corp now owns 466,677 shares of the utilities provider’s stock valued at $7,621,000 after acquiring an additional 13,776 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Shenandoah Telecommunications by 1.2% in the second quarter. Dimensional Fund Advisors LP now owns 2,576,290 shares of the utilities provider’s stock worth $42,070,000 after purchasing an additional 29,413 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its holdings in Shenandoah Telecommunications by 99.9% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 101,288 shares of the utilities provider’s stock valued at $1,654,000 after buying an additional 50,630 shares in the last quarter. Inspire Investing LLC raised its holdings 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 worth $352,000 after acquiring an additional 1,138 shares in the last quarter. Finally, Gabelli Funds LLC raised its holdings in shares of Shenandoah Telecommunications by 11.5% during the 2nd quarter. Gabelli Funds LLC now owns 140,500 shares of the utilities provider’s stock worth $2,294,000 after acquiring an additional 14,500 shares in the last quarter. 61.96% of the stock is owned by institutional investors.

Shenandoah Telecommunications Stock Down 4.4 %

Shares of SHEN opened at $12.44 on Monday. The firm has a market capitalization of $679.25 million, a P/E ratio of 3.20 and a beta of 0.63. Shenandoah Telecommunications has a 12-month low of $11.87 and a 12-month high of $22.27. The firm has a fifty day moving average price of $13.48 and a 200-day moving average price of $15.09. 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 Increases Dividend

The firm also recently disclosed an annual dividend, which was paid on Monday, December 2nd. Investors of record on Tuesday, November 5th were paid a $0.10 dividend. The ex-dividend date 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 is 2.57%.

Analyst Upgrades and Downgrades

Separately, BWS Financial reiterated 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.