Mutual of America Capital Management LLC Has $344,000 Holdings in Shenandoah Telecommunications (NASDAQ:SHEN)

Mutual of America Capital Management LLC raised its holdings in shares of Shenandoah Telecommunications (NASDAQ:SHEN) by 6.5% during the second quarter, HoldingsChannel.com reports. The firm owned 7,100 shares of the utilities provider’s stock after acquiring an additional 431 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Shenandoah Telecommunications were worth $344,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. State of Alaska Department of Revenue lifted its position in Shenandoah Telecommunications by 2.2% during the 2nd quarter. State of Alaska Department of Revenue now owns 34,554 shares of the utilities provider’s stock valued at $1,676,000 after purchasing an additional 750 shares during the period. Rhumbline Advisers raised its position in shares of Shenandoah Telecommunications by 0.9% in the 1st quarter. Rhumbline Advisers now owns 143,808 shares of the utilities provider’s stock valued at $7,019,000 after acquiring an additional 1,269 shares during the period. Panagora Asset Management Inc. raised its position in shares of Shenandoah Telecommunications by 2.0% in the 1st quarter. Panagora Asset Management Inc. now owns 11,772 shares of the utilities provider’s stock valued at $575,000 after acquiring an additional 234 shares during the period. Royce & Associates LP acquired a new stake in shares of Shenandoah Telecommunications in the 1st quarter valued at approximately $412,000. Finally, Geode Capital Management LLC raised its position in shares of Shenandoah Telecommunications by 5.6% in the 1st quarter. Geode Capital Management LLC now owns 847,561 shares of the utilities provider’s stock valued at $41,369,000 after acquiring an additional 44,838 shares during the period. Institutional investors own 54.01% of the company’s stock.

Shares of SHEN stock opened at $28.96 on Wednesday. The company has a market capitalization of $1.45 billion, a P/E ratio of 7.66 and a beta of 0.34. The company’s 50 day moving average price is $38.69 and its two-hundred day moving average price is $45.75. Shenandoah Telecommunications has a 52 week low of $28.70 and a 52 week high of $61.53.

Shenandoah Telecommunications (NASDAQ:SHEN) last announced its earnings results on Thursday, July 29th. The utilities provider reported $0.04 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.63). The company had revenue of $60.70 million for the quarter, compared to analyst estimates of $60.16 million. Shenandoah Telecommunications had a return on equity of 1.29% and a net margin of 80.93%. On average, sell-side analysts forecast that Shenandoah Telecommunications will post 0.05 earnings per share for the current year.

The business also recently announced a None dividend, which was paid on Monday, August 2nd. Shareholders of record on Tuesday, July 13th were issued a dividend of $18.75 per share. The ex-dividend date was Tuesday, August 3rd. Shenandoah Telecommunications’s dividend payout ratio (DPR) is currently 680.00%.

SHEN has been the topic of a number of analyst reports. TheStreet downgraded shares of Shenandoah Telecommunications from a “c-” rating to a “d+” rating in a research report on Monday, August 16th. Raymond James upgraded shares of Shenandoah Telecommunications from an “underperform” rating to a “market perform” rating in a research report on Wednesday, August 4th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Shenandoah Telecommunications from a “sell” rating to a “hold” rating in a research report on Thursday, August 5th. Finally, B. Riley upgraded shares of Shenandoah Telecommunications from a “neutral” rating to a “buy” rating and set a $41.00 price target on the stock in a research report on Wednesday, August 18th. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $43.00.

Shenandoah Telecommunications Profile

Shenandoah Telecommunications Co operates as a holding company, which engages in the provision of regulated and unregulated telecommunication services to end-user customers and other telecommunications providers. It offers voice, video and data communications services. It operates through the following segments: Wireless, Broadband and Tower.

See Also: What are the disadvantages of after-hours trading?

Want to see what other hedge funds are holding SHEN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Shenandoah Telecommunications (NASDAQ:SHEN).

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

Receive News & Ratings for Shenandoah Telecommunications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Shenandoah Telecommunications and related companies with MarketBeat.com's FREE daily email newsletter.