Principal Financial Group Inc. Grows Position in Shenandoah Telecommunications (NASDAQ:SHEN)

Principal Financial Group Inc. increased its stake in Shenandoah Telecommunications (NASDAQ:SHEN) by 2.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 222,588 shares of the utilities provider’s stock after purchasing an additional 6,323 shares during the period. Principal Financial Group Inc. owned approximately 0.41% of Shenandoah Telecommunications worth $2,807,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. FMR LLC grew its holdings in shares of Shenandoah Telecommunications by 211.9% in the third quarter. FMR LLC now owns 105,789 shares of the utilities provider’s stock worth $1,493,000 after purchasing an additional 71,868 shares during the last quarter. Barclays PLC increased its holdings in Shenandoah Telecommunications by 339.4% in the 3rd quarter. Barclays PLC now owns 80,151 shares of the utilities provider’s stock worth $1,131,000 after buying an additional 61,910 shares in the last quarter. Jane Street Group LLC boosted its holdings in shares of Shenandoah Telecommunications by 101.2% in the third quarter. Jane Street Group LLC now owns 95,703 shares of the utilities provider’s stock worth $1,350,000 after buying an additional 48,127 shares during the last quarter. Intech Investment Management LLC bought a new position in Shenandoah Telecommunications in the third quarter worth approximately $1,113,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Shenandoah Telecommunications during the 3rd quarter valued at $678,000. 61.96% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, BWS Financial reaffirmed a “buy” rating and set a $26.00 target price on shares of Shenandoah Telecommunications in a research note on Tuesday, February 25th.

Shenandoah Telecommunications Stock Performance

Shares of NASDAQ:SHEN opened at $11.16 on Wednesday. Shenandoah Telecommunications has a 52 week low of $9.77 and a 52 week high of $21.89. The stock has a market capitalization of $610.15 million, a P/E ratio of 2.94 and a beta of 0.61. The firm has a fifty day simple moving average of $11.64 and a two-hundred day simple moving average of $13.17. The company has a quick ratio of 0.79, a current ratio of 0.82 and a debt-to-equity ratio of 0.44.

Shenandoah Telecommunications (NASDAQ:SHEN) last released its earnings results on Thursday, February 20th. The utilities provider reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.07). Shenandoah Telecommunications had a negative return on equity of 2.50% and a net margin of 58.03%. The firm had revenue of $85.41 million during the quarter, compared to the consensus estimate of $89.65 million. On average, analysts expect that Shenandoah Telecommunications will post -0.49 earnings per share for the current fiscal year.

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.