Bramshill Investments LLC acquired a new position in shares of Consolidated Communications Holdings Inc (NASDAQ:CNSL) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 141,758 shares of the utilities provider’s stock, valued at approximately $1,752,000. Consolidated Communications accounts for 0.7% of Bramshill Investments LLC’s investment portfolio, making the stock its 27th biggest position. Bramshill Investments LLC owned about 0.20% of Consolidated Communications as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Macquarie Group Ltd. increased its holdings in Consolidated Communications by 85.5% during the 2nd quarter. Macquarie Group Ltd. now owns 10,200 shares of the utilities provider’s stock worth $126,000 after purchasing an additional 4,700 shares during the period. Cubist Systematic Strategies LLC increased its holdings in Consolidated Communications by 17.9% during the 1st quarter. Cubist Systematic Strategies LLC now owns 37,210 shares of the utilities provider’s stock worth $408,000 after purchasing an additional 5,654 shares during the period. Virginia Retirement Systems ET AL increased its holdings in Consolidated Communications by 23.8% during the 1st quarter. Virginia Retirement Systems ET AL now owns 35,388 shares of the utilities provider’s stock worth $388,000 after purchasing an additional 6,800 shares during the period. Xact Kapitalforvaltning AB increased its holdings in Consolidated Communications by 36.5% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 25,453 shares of the utilities provider’s stock worth $315,000 after purchasing an additional 6,800 shares during the period. Finally, Legal & General Group Plc increased its holdings in Consolidated Communications by 6.4% during the 2nd quarter. Legal & General Group Plc now owns 142,505 shares of the utilities provider’s stock worth $1,763,000 after purchasing an additional 8,547 shares during the period. Institutional investors own 71.34% of the company’s stock.
Several research analysts have commented on the company. BidaskClub upgraded Consolidated Communications from a “sell” rating to a “hold” rating in a report on Tuesday, June 19th. Zacks Investment Research downgraded Consolidated Communications from a “buy” rating to a “hold” rating in a report on Wednesday, August 8th. Finally, ValuEngine upgraded Consolidated Communications from a “sell” rating to a “hold” rating in a report on Friday, June 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $14.50.
Shares of NASDAQ:CNSL opened at $12.88 on Friday. Consolidated Communications Holdings Inc has a 12-month low of $10.31 and a 12-month high of $20.72. The firm has a market capitalization of $905.62 million, a PE ratio of 49.54 and a beta of 0.72. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 4.49.
Consolidated Communications (NASDAQ:CNSL) last announced its quarterly earnings results on Thursday, August 2nd. The utilities provider reported ($0.11) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.10) by ($0.01). Consolidated Communications had a net margin of 3.47% and a negative return on equity of 3.15%. The company had revenue of $350.22 million during the quarter, compared to analysts’ expectations of $351.29 million. equities research analysts forecast that Consolidated Communications Holdings Inc will post -0.43 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 1st. Stockholders of record on Monday, October 15th will be issued a $0.387 dividend. The ex-dividend date of this dividend is Friday, October 12th. This represents a $1.55 dividend on an annualized basis and a dividend yield of 12.02%. Consolidated Communications’s dividend payout ratio is presently 596.15%.
Consolidated Communications Company Profile
Consolidated Communications Holdings, Inc, through its subsidiaries, provides various integrated communications services to business and residential customers in the United States. It offers a range of communication services and products that include local and long-distance, high-speed broadband Internet access, video, voice over Internet protocol, private line, custom calling features, security, cloud, data center, managed and IT, and directory publishing services, as well as engages in equipment sales activities.
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