Maryland State Retirement & Pension System Has $380,000 Holdings in Shenandoah Telecommunications (NASDAQ:SHEN)

Posted by Defense World Staff on Sep 29th, 2023

Maryland State Retirement & Pension System cut its position in shares of Shenandoah Telecommunications (NASDAQ:SHEN – Free Report) by 3.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,576 shares of the utilities provider’s stock after selling 599 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Shenandoah Telecommunications were worth $380,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Shenandoah Telecommunications by 2.0% in the third quarter. Vanguard Group Inc. now owns 5,365,899 shares of the utilities provider’s stock worth $91,327,000 after purchasing an additional 104,936 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Shenandoah Telecommunications by 6.4% during the first quarter. Dimensional Fund Advisors LP now owns 2,158,965 shares of the utilities provider’s stock valued at $41,063,000 after buying an additional 130,001 shares during the last quarter. State Street Corp grew its holdings in shares of Shenandoah Telecommunications by 0.8% during the third quarter. State Street Corp now owns 1,872,634 shares of the utilities provider’s stock valued at $31,872,000 after buying an additional 15,339 shares during the last quarter. Cerity Partners LLC acquired a new position in shares of Shenandoah Telecommunications during the fourth quarter valued at about $22,186,000. Finally, Broad Run Investment Management LLC grew its holdings in shares of Shenandoah Telecommunications by 10.1% during the fourth quarter. Broad Run Investment Management LLC now owns 1,069,607 shares of the utilities provider’s stock valued at $16,985,000 after buying an additional 98,028 shares during the last quarter. 62.61% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on SHEN shares. StockNews.com raised shares of Shenandoah Telecommunications from a “sell” rating to a “hold” rating in a research report on Friday, September 22nd. BWS Financial raised shares of Shenandoah Telecommunications from a “sell” rating to a “neutral” rating and set a $20.00 price objective for the company in a research report on Friday, August 4th.

Get Our Latest Research Report on Shenandoah Telecommunications

Shenandoah Telecommunications Stock Up 0.9 %

SHEN opened at $21.03 on Friday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.19. The stock has a market cap of $1.06 billion, a price-to-earnings ratio of -2,100.90 and a beta of 0.67. Shenandoah Telecommunications has a twelve month low of $15.62 and a twelve month high of $23.31. The company’s 50-day moving average price is $20.97 and its two-hundred day moving average price is $19.92.

Shenandoah Telecommunications (NASDAQ:SHEN – Get Free Report) last released its earnings results on Wednesday, August 2nd. The utilities provider reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.08. The firm had revenue of $71.34 million for the quarter, compared to analysts’ expectations of $70.19 million. Shenandoah Telecommunications had a negative net margin of 0.25% and a positive return on equity of 0.03%. As a group, equities analysts expect that Shenandoah Telecommunications will post 0.04 earnings per share for the current year.

Shenandoah Telecommunications Company Profile

(Free Report)

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. Its 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.