Tocqueville Asset Management L.P. trimmed its stake in Consolidated Communications Holdings Inc (NASDAQ:CNSL) by 28.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,600 shares of the utilities provider’s stock after selling 5,700 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in Consolidated Communications were worth $180,000 as of its most recent SEC filing.
A number of other large investors also recently bought and sold shares of CNSL. Cubist Systematic Strategies LLC increased its stake in shares of Consolidated Communications by 17.9% in the first 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 in the last quarter. Virginia Retirement Systems ET AL increased its stake in shares of Consolidated Communications by 23.8% in the first 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 in the last quarter. Xact Kapitalforvaltning AB increased its stake in shares of Consolidated Communications by 36.5% in the second 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 in the last quarter. Legal & General Group Plc increased its stake in shares of Consolidated Communications by 6.4% in the second 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 in the last quarter. Finally, Great West Life Assurance Co. Can increased its stake in shares of Consolidated Communications by 9.9% in the first quarter. Great West Life Assurance Co. Can now owns 98,856 shares of the utilities provider’s stock worth $1,083,000 after purchasing an additional 8,922 shares in the last quarter. Institutional investors and hedge funds own 71.34% of the company’s stock.
CNSL has been the subject of several recent research reports. Zacks Investment Research downgraded shares of Consolidated Communications from a “buy” rating to a “hold” rating in a research note on Wednesday, August 8th. BidaskClub upgraded shares of Consolidated Communications from a “hold” rating to a “buy” rating in a research note on Thursday, September 13th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. Consolidated Communications currently has a consensus rating of “Hold” and a consensus target price of $14.50.
NASDAQ:CNSL traded down $0.09 during mid-day trading on Friday, hitting $13.22. 330,365 shares of the stock traded hands, compared to its average volume of 789,959. The stock has a market cap of $929.13 million, a P/E ratio of 50.85 and a beta of 0.70. Consolidated Communications Holdings Inc has a 12-month low of $10.31 and a 12-month high of $20.47. 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 issued its quarterly earnings data on Thursday, August 2nd. The utilities provider reported ($0.11) EPS for the quarter, missing the 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 firm had revenue of $350.22 million for the quarter, compared to analysts’ expectations of $351.29 million. On average, equities analysts forecast that Consolidated Communications Holdings Inc will post -0.43 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, November 1st. Shareholders of record on Monday, October 15th will be given a dividend of $0.387 per share. The ex-dividend date of this dividend is Friday, October 12th. This represents a $1.55 annualized dividend and a yield of 11.71%. Consolidated Communications’s payout ratio is presently 596.15%.
Consolidated Communications 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.
Read More: Book Value Per Share – BVPS
Receive News & Ratings for Consolidated Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Consolidated Communications and related companies with MarketBeat.com's FREE daily email newsletter.