RWA Wealth Partners LLC Buys Shares of 119,465 Shenandoah Telecommunications (NASDAQ:SHEN)

RWA Wealth Partners LLC bought a new stake in Shenandoah Telecommunications (NASDAQ:SHEN) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 119,465 shares of the utilities provider’s stock, valued at approximately $2,583,000. RWA Wealth Partners LLC owned approximately 0.24% of Shenandoah Telecommunications at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its holdings in Shenandoah Telecommunications by 7.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 709,168 shares of the utilities provider’s stock valued at $14,616,000 after purchasing an additional 51,827 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Shenandoah Telecommunications by 25.6% during the 3rd quarter. American Century Companies Inc. now owns 445,005 shares of the utilities provider’s stock worth $9,172,000 after acquiring an additional 90,695 shares during the period. Swiss National Bank lifted its holdings in shares of Shenandoah Telecommunications by 1.0% during the 3rd quarter. Swiss National Bank now owns 104,872 shares of the utilities provider’s stock worth $2,161,000 after acquiring an additional 1,000 shares during the period. PAX Financial Group LLC lifted its holdings in shares of Shenandoah Telecommunications by 4.0% during the 3rd quarter. PAX Financial Group LLC now owns 34,815 shares of the utilities provider’s stock worth $718,000 after acquiring an additional 1,333 shares during the period. Finally, Illinois Municipal Retirement Fund purchased a new position in shares of Shenandoah Telecommunications during the 3rd quarter worth about $650,000. 61.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, BWS Financial upgraded shares of Shenandoah Telecommunications from a “neutral” rating to a “buy” rating and set a $26.00 price objective on the stock in a report on Monday, March 4th.

Shenandoah Telecommunications Stock Up 0.4 %

SHEN opened at $14.04 on Wednesday. The firm has a 50 day moving average price of $17.32 and a 200 day moving average price of $20.20. The company has a market cap of $708.32 million, a PE ratio of 87.76 and a beta of 0.52. Shenandoah Telecommunications has a 1 year low of $13.91 and a 1 year high of $25.51. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.79 and a current ratio of 1.79.

Shenandoah Telecommunications (NASDAQ:SHEN) last posted its earnings results on Wednesday, February 21st. The utilities provider reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.06. The firm had revenue of $72.51 million during the quarter, compared to the consensus estimate of $71.85 million. Shenandoah Telecommunications had a net margin of 2.80% and a return on equity of 1.24%. During the same quarter in the prior year, the company earned ($0.04) EPS. Sell-side analysts expect that Shenandoah Telecommunications will post -0.05 earnings per share for the current year.

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.