Shenandoah Telecommunications (NASDAQ:SHEN) Stock Position Decreased by Geode Capital Management LLC

Geode Capital Management LLC trimmed its position in shares of Shenandoah Telecommunications (NASDAQ:SHEN) by 3.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in SHEN. nVerses Capital LLC bought a new position in Shenandoah Telecommunications during the third quarter valued at approximately $37,000. Quantbot Technologies LP increased its stake in shares of Shenandoah Telecommunications by 570.2% during the 3rd quarter. Quantbot Technologies LP now owns 7,339 shares of the utilities provider’s stock worth $104,000 after purchasing an additional 6,244 shares during the last quarter. Quest Partners LLC raised its holdings in shares of 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 in the last quarter. Magnetar Financial LLC acquired a new stake in shares of Shenandoah Telecommunications in the 2nd quarter valued at $257,000. Finally, SG Americas Securities LLC bought a new stake in Shenandoah Telecommunications in the third quarter worth $271,000. Institutional investors own 61.96% of the company’s stock.

Analyst Upgrades and Downgrades

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

Shenandoah Telecommunications Stock Down 4.4 %

SHEN opened at $12.44 on Monday. The firm has a market cap of $679.25 million, a P/E ratio of 3.20 and a beta of 0.63. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.79 and a current ratio of 0.79. The business has a 50 day moving average price of $13.48 and a 200 day moving average price of $15.09. Shenandoah Telecommunications has a twelve month low of $11.87 and a twelve month high of $22.27.

Shenandoah Telecommunications Increases Dividend

The company also recently disclosed an annual dividend, which was paid on Monday, December 2nd. Investors of record on Tuesday, November 5th were issued a dividend of $0.10 per share. This is an increase from Shenandoah Telecommunications’s previous annual dividend of $0.09. This represents a dividend yield of 0.66%. The ex-dividend date was Tuesday, November 5th. Shenandoah Telecommunications’s dividend 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.