Prudential Financial Inc. increased its position in Consolidated Communications Holdings, Inc. (NASDAQ:CNSL) by 38.6% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 118,274 shares of the utilities provider’s stock after purchasing an additional 32,955 shares during the period. Prudential Financial Inc. owned 0.17% of Consolidated Communications worth $2,257,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of the stock. Csenge Advisory Group bought a new position in Consolidated Communications in the third quarter worth about $257,000. Vanguard Group Inc. lifted its holdings in Consolidated Communications by 0.9% in the second quarter. Vanguard Group Inc. now owns 5,655,583 shares of the utilities provider’s stock worth $121,425,000 after acquiring an additional 48,111 shares during the last quarter. Schroder Investment Management Group lifted its holdings in Consolidated Communications by 41.9% in the second quarter. Schroder Investment Management Group now owns 33,422 shares of the utilities provider’s stock worth $714,000 after acquiring an additional 9,876 shares during the last quarter. BlackRock Inc. lifted its holdings in Consolidated Communications by 0.3% in the second quarter. BlackRock Inc. now owns 7,058,156 shares of the utilities provider’s stock worth $151,539,000 after acquiring an additional 17,697 shares during the last quarter. Finally, HighTower Advisors LLC bought a new position in Consolidated Communications in the second quarter worth about $297,000. Institutional investors and hedge funds own 70.83% of the company’s stock.
A number of equities analysts have issued reports on CNSL shares. Jefferies Group cut their target price on shares of Consolidated Communications from $21.00 to $19.00 and set a “hold” rating on the stock in a report on Friday, November 3rd. Cowen reissued a “hold” rating and issued a $21.00 target price on shares of Consolidated Communications in a report on Thursday, October 19th. Zacks Investment Research cut shares of Consolidated Communications from a “hold” rating to a “sell” rating in a report on Tuesday, November 7th. BidaskClub raised Consolidated Communications from a “hold” rating to a “buy” rating in a report on Tuesday, August 8th. Finally, ValuEngine cut Consolidated Communications from a “hold” rating to a “sell” rating in a report on Wednesday, September 6th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, two have issued a buy rating and two have issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $22.00.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Monday, January 15th will be issued a dividend of $0.387 per share. The ex-dividend date is Thursday, January 11th. This represents a $1.55 dividend on an annualized basis and a dividend yield of 11.45%. Consolidated Communications’s dividend payout ratio (DPR) is presently -287.04%.
In other Consolidated Communications news, Director Wayne Wilson purchased 2,000 shares of the business’s stock in a transaction dated Thursday, September 7th. The shares were bought at an average price of $17.75 per share, with a total value of $35,500.00. Following the completion of the acquisition, the director now owns 46,211 shares in the company, valued at approximately $820,245.25. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Thomas A. Gerke purchased 6,850 shares of the business’s stock in a transaction dated Tuesday, November 7th. The shares were acquired at an average cost of $14.63 per share, for a total transaction of $100,215.50. Following the acquisition, the director now owns 12,667 shares of the company’s stock, valued at approximately $185,318.21. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 27,550 shares of company stock worth $423,913. Corporate insiders own 3.00% of the company’s stock.
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Consolidated Communications Company Profile
Consolidated Communications Holdings, Inc is a holding company with operating subsidiaries that provide integrated communications services in consumer, commercial and carrier channels in California, Illinois, Iowa, Kansas, Minnesota, Missouri, North Dakota, Pennsylvania, South Dakota, Texas and Wisconsin.
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