Toronto Dominion Bank Trims Stake in Shenandoah Telecommunications (SHEN)

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Toronto Dominion Bank trimmed its stake in shares of Shenandoah Telecommunications (NASDAQ:SHEN) by 9.7% during the first quarter, HoldingsChannel reports. The firm owned 2,927 shares of the utilities provider’s stock after selling 313 shares during the period. Toronto Dominion Bank’s holdings in Shenandoah Telecommunications were worth $130,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Bank of Montreal Can lifted its position in shares of Shenandoah Telecommunications by 51.4% during the fourth quarter. Bank of Montreal Can now owns 1,002 shares of the utilities provider’s stock worth $44,000 after purchasing an additional 340 shares in the last quarter. TIAA CREF Investment Management LLC lifted its holdings in Shenandoah Telecommunications by 0.4% in the third quarter. TIAA CREF Investment Management LLC now owns 104,166 shares of the utilities provider’s stock valued at $4,036,000 after buying an additional 428 shares during the period. Victory Capital Management Inc. lifted its holdings in Shenandoah Telecommunications by 4.0% in the fourth quarter. Victory Capital Management Inc. now owns 11,162 shares of the utilities provider’s stock valued at $494,000 after buying an additional 434 shares during the period. Principal Financial Group Inc. lifted its holdings in Shenandoah Telecommunications by 2.7% in the fourth quarter. Principal Financial Group Inc. now owns 17,087 shares of the utilities provider’s stock valued at $756,000 after buying an additional 452 shares during the period. Finally, Meeder Asset Management Inc. acquired a new position in Shenandoah Telecommunications in the fourth quarter valued at approximately $40,000. Institutional investors own 48.94% of the company’s stock.

NASDAQ SHEN traded up $0.13 during trading hours on Monday, hitting $43.03. The company’s stock had a trading volume of 195,568 shares, compared to its average volume of 157,305. Shenandoah Telecommunications has a twelve month low of $29.92 and a twelve month high of $51.41. The firm has a market capitalization of $2.14 billion, a P/E ratio of 46.27 and a beta of 0.42. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.58 and a quick ratio of 1.52.

Shenandoah Telecommunications (NASDAQ:SHEN) last announced its quarterly earnings data on Thursday, May 9th. The utilities provider reported $0.28 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.28. Shenandoah Telecommunications had a net margin of 8.23% and a return on equity of 11.86%. The business had revenue of $158.84 million for the quarter, compared to analyst estimates of $163.97 million. Sell-side analysts expect that Shenandoah Telecommunications will post 1.24 EPS for the current fiscal year.

Several equities analysts recently weighed in on SHEN shares. BidaskClub lowered shares of Shenandoah Telecommunications from a “buy” rating to a “hold” rating in a report on Thursday, January 31st. Zacks Investment Research lowered shares of Shenandoah Telecommunications from a “hold” rating to a “sell” rating in a report on Tuesday, March 19th. BWS Financial restated a “buy” rating on shares of Shenandoah Telecommunications in a report on Monday, January 28th. ValuEngine lowered shares of Shenandoah Telecommunications from a “strong-buy” rating to a “buy” rating in a report on Friday, April 5th. Finally, Macquarie restated a “hold” rating and issued a $47.00 price objective on shares of Shenandoah Telecommunications in a report on Sunday, May 12th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $50.67.

In related news, VP Raymond B. Ostroski sold 10,000 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $45.76, for a total value of $457,600.00. Following the transaction, the vice president now directly owns 18,575 shares in the company, valued at $849,992. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 4.70% of the company’s stock.

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Shenandoah Telecommunications Company Profile

Shenandoah Telecommunications Company, through its subsidiaries, primarily provides wireless, cable, and wireline telecommunications services to customers and other telecommunications providers. The company operates in three segments: Wireless, Cable, and Wireline. The Wireless segment provides digital wireless mobile services; and wireless mobility communications network products and services.

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Institutional Ownership by Quarter for Shenandoah Telecommunications (NASDAQ:SHEN)

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