Amalgamated Bank Sells 1,178 Shares of Shenandoah Telecommunications (NASDAQ:SHEN)

Amalgamated Bank reduced its position in shares of Shenandoah Telecommunications (NASDAQ:SHEN) by 7.9% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 13,667 shares of the utilities provider’s stock after selling 1,178 shares during the quarter. Amalgamated Bank’s holdings in Shenandoah Telecommunications were worth $193,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Shenandoah Telecommunications by 1.0% in the first quarter. Vanguard Group Inc. now owns 5,488,067 shares of the utilities provider’s stock worth $95,328,000 after acquiring an additional 51,697 shares during the period. GCM Grosvenor Holdings LLC purchased a new position in Shenandoah Telecommunications during the second quarter valued at approximately $66,959,000. Dimensional Fund Advisors LP lifted 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 buying an additional 29,413 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Shenandoah Telecommunications by 3.0% in the second quarter. Bank of New York Mellon Corp now owns 466,677 shares of the utilities provider’s stock worth $7,621,000 after buying an additional 13,776 shares in the last quarter. Finally, Gabelli Funds LLC lifted its holdings in shares of Shenandoah Telecommunications by 11.5% in the second quarter. Gabelli Funds LLC now owns 140,500 shares of the utilities provider’s stock worth $2,294,000 after buying an additional 14,500 shares in the last quarter. 61.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on SHEN shares. BWS Financial restated a “buy” rating and issued a $26.00 price target on shares of Shenandoah Telecommunications in a research report on Wednesday, November 13th. StockNews.com upgraded shares of Shenandoah Telecommunications to a “sell” rating in a research report on Tuesday, July 30th.

Shenandoah Telecommunications Stock Down 1.3 %

NASDAQ:SHEN opened at $12.93 on Monday. Shenandoah Telecommunications has a 1-year low of $11.87 and a 1-year high of $24.22. The company has a 50-day moving average of $14.16 and a 200 day moving average of $15.92. The firm has a market cap of $705.98 million, a PE ratio of 3.32 and a beta of 0.67. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.79 and a quick ratio of 0.79.

Shenandoah Telecommunications Increases Dividend

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

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.