78,849 Shares in Shenandoah Telecommunications (NASDAQ:SHEN) Bought by Intech Investment Management LLC

Intech Investment Management LLC bought a new position in Shenandoah Telecommunications (NASDAQ:SHEN) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 78,849 shares of the utilities provider’s stock, valued at approximately $1,113,000. Intech Investment Management LLC owned about 0.14% of Shenandoah Telecommunications at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. GCM Grosvenor Holdings LLC acquired a new position in Shenandoah Telecommunications in the second quarter worth approximately $66,959,000. Vanguard Group Inc. increased its stake in shares of Shenandoah Telecommunications by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 5,488,067 shares of the utilities provider’s stock worth $95,328,000 after purchasing an additional 51,697 shares during the last quarter. Mercer Global Advisors Inc. ADV raised its holdings in shares of Shenandoah Telecommunications by 99.9% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 101,288 shares of the utilities provider’s stock valued at $1,654,000 after purchasing an additional 50,630 shares in the last quarter. Inspire Investing LLC lifted its stake in shares of Shenandoah Telecommunications by 34.3% in the 3rd quarter. Inspire Investing LLC now owns 28,988 shares of the utilities provider’s stock valued at $409,000 after purchasing an additional 7,407 shares during the last quarter. Finally, CWM LLC boosted its holdings in Shenandoah Telecommunications by 3.0% in the second quarter. CWM LLC now owns 72,390 shares of the utilities provider’s stock worth $1,182,000 after purchasing an additional 2,121 shares in the last quarter. 61.96% of the stock is owned by hedge funds and other institutional investors.

Shenandoah Telecommunications Price Performance

Shares of Shenandoah Telecommunications stock opened at $13.15 on Thursday. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.36. The firm has a fifty day simple moving average of $13.80 and a 200-day simple moving average of $15.81. The stock has a market capitalization of $717.99 million, a price-to-earnings ratio of 3.38 and a beta of 0.67. Shenandoah Telecommunications has a 1-year low of $11.87 and a 1-year high of $23.13.

Shenandoah Telecommunications Increases Dividend

The company also recently declared an annual dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 5th will be issued a dividend of $0.10 per share. This represents a yield of 0.66%. This is a boost from Shenandoah Telecommunications’s previous annual dividend of $0.09. The ex-dividend date of this dividend is Tuesday, November 5th. Shenandoah Telecommunications’s dividend payout ratio is 2.57%.

Analyst Upgrades and Downgrades

Separately, BWS Financial reissued a “buy” rating and issued a $26.00 price objective on shares of Shenandoah Telecommunications in a research note on Wednesday, November 13th.

About Shenandoah Telecommunications

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.