Wells Fargo & Company MN Trims Position in Shenandoah Telecommunications (NASDAQ:SHEN)

Wells Fargo & Company MN trimmed its position in Shenandoah Telecommunications (NASDAQ:SHEN - Free Report) by 35.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 69,631 shares of the utilities provider's stock after selling 38,764 shares during the quarter. Wells Fargo & Company MN owned approximately 0.13% of Shenandoah Telecommunications worth $878,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Shenandoah Telecommunications by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 5,529,847 shares of the utilities provider's stock worth $69,731,000 after purchasing an additional 68,133 shares in the last quarter. DAVENPORT & Co LLC increased its holdings in shares of Shenandoah Telecommunications by 16.1% in the fourth quarter. DAVENPORT & Co LLC now owns 1,012,685 shares of the utilities provider's stock worth $12,770,000 after purchasing an additional 140,314 shares during the period. Bank of New York Mellon Corp raised its position in shares of Shenandoah Telecommunications by 8.3% in the fourth quarter. Bank of New York Mellon Corp now owns 454,540 shares of the utilities provider's stock worth $5,732,000 after buying an additional 34,740 shares in the last quarter. American Century Companies Inc. boosted its stake in Shenandoah Telecommunications by 12.5% during the fourth quarter. American Century Companies Inc. now owns 433,218 shares of the utilities provider's stock valued at $5,463,000 after buying an additional 48,233 shares during the period. Finally, Principal Financial Group Inc. grew its position in Shenandoah Telecommunications by 2.9% during the fourth quarter. Principal Financial Group Inc. now owns 222,588 shares of the utilities provider's stock worth $2,807,000 after buying an additional 6,323 shares in the last quarter. 61.96% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SHEN. StockNews.com upgraded shares of Shenandoah Telecommunications to a "sell" rating in a research report on Friday, April 11th. BWS Financial reaffirmed a "buy" rating and set a $26.00 price objective on shares of Shenandoah Telecommunications in a report on Thursday, May 1st.

Shenandoah Telecommunications Trading Up 4.4 %

Shares of SHEN traded up $0.49 during mid-day trading on Tuesday, reaching $11.73. The company's stock had a trading volume of 269,662 shares, compared to its average volume of 243,791. The company has a current ratio of 0.82, a quick ratio of 0.79 and a debt-to-equity ratio of 0.44. Shenandoah Telecommunications has a 52 week low of $9.77 and a 52 week high of $21.89. The company's fifty day moving average price is $12.38 and its two-hundred day moving average price is $12.53. The stock has a market cap of $643.47 million, a PE ratio of 3.09 and a beta of 0.82.

Shenandoah Telecommunications (NASDAQ:SHEN - Get Free Report) last issued its earnings results on Wednesday, April 30th. The utilities provider reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.05). The firm had revenue of $87.90 million during the quarter, compared to the consensus estimate of $89.31 million. Shenandoah Telecommunications had a negative return on equity of 2.50% and a net margin of 58.03%. During the same quarter in the prior year, the business posted ($0.07) EPS. On average, analysts predict that Shenandoah Telecommunications will post -0.49 earnings per share for the current fiscal year.

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.