Consolidated Communications Holdings, Inc. (CNSL) Shares Bought by Principal Financial Group Inc.

Consolidated Communications Holdings, Inc. (CNSL) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. increased its stake in shares of Consolidated Communications Holdings, Inc. (NASDAQ:CNSL) by 9.1% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 710,226 shares of the company’s stock after buying an additional 58,989 shares during the period. Principal Financial Group Inc. owned approximately 1.40% of Consolidated Communications Holdings worth $17,926,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CNSL. Spark Investment Management LLC bought a new position in Consolidated Communications Holdings during the third quarter valued at $790,000. Northern Trust Corp boosted its position in Consolidated Communications Holdings by 0.6% in the third quarter. Northern Trust Corp now owns 621,652 shares of the company’s stock valued at $15,691,000 after buying an additional 3,634 shares in the last quarter. California State Teachers Retirement System boosted its position in Consolidated Communications Holdings by 1.0% in the third quarter. California State Teachers Retirement System now owns 105,197 shares of the company’s stock valued at $2,655,000 after buying an additional 1,000 shares in the last quarter. SG Americas Securities LLC bought a new position in Consolidated Communications Holdings during the third quarter valued at $245,000. Finally, Ameriprise Financial Inc. boosted its position in Consolidated Communications Holdings by 2.7% in the third quarter. Ameriprise Financial Inc. now owns 256,310 shares of the company’s stock valued at $6,470,000 after buying an additional 6,763 shares in the last quarter. 63.03% of the stock is currently owned by hedge funds and other institutional investors.

Consolidated Communications Holdings, Inc. (NASDAQ:CNSL) traded up 0.88% during mid-day trading on Friday, hitting $26.35. 342,694 shares of the company traded hands. The firm has a market capitalization of $1.33 billion, a P/E ratio of 68.98 and a beta of 1.25. Consolidated Communications Holdings, Inc. has a one year low of $18.53 and a one year high of $30.23. The firm has a 50 day moving average of $27.00 and a 200 day moving average of $25.96.

Consolidated Communications Holdings (NASDAQ:CNSL) last released its earnings results on Thursday, November 3rd. The company reported $0.16 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.16. The firm had revenue of $191.50 million for the quarter, compared to analysts’ expectations of $188.81 million. Consolidated Communications Holdings had a net margin of 2.60% and a return on equity of 14.50%. The company’s quarterly revenue was down 1.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.18 earnings per share. Equities research analysts expect that Consolidated Communications Holdings, Inc. will post $0.68 earnings per share for the current fiscal year.

The business also recently announced a dividend, which will be paid on Wednesday, February 1st. Shareholders of record on Friday, January 13th will be paid a $0.387 dividend. The ex-dividend date of this dividend is Wednesday, January 11th. Consolidated Communications Holdings’s payout ratio is 407.89%.

Several research analysts have recently commented on the stock. Zacks Investment Research cut shares of Consolidated Communications Holdings from a “buy” rating to a “hold” rating in a report on Monday, January 9th. Jefferies Group LLC raised their target price on shares of Consolidated Communications Holdings from $22.00 to $27.00 and gave the stock a “hold” rating in a report on Tuesday, December 6th. Raymond James Financial, Inc. raised shares of Consolidated Communications Holdings from an “underperform” rating to a “market perform” rating in a report on Tuesday, December 6th. Drexel Hamilton cut shares of Consolidated Communications Holdings from a “buy” rating to a “hold” rating in a report on Monday, December 5th. Finally, Stephens cut shares of Consolidated Communications Holdings from an “equal weight” rating to an “underweight” rating in a report on Thursday, October 20th. Three investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $24.50.

In other Consolidated Communications Holdings news, insider C Robert Udell, Jr. sold 15,000 shares of the business’s stock in a transaction dated Thursday, December 15th. The shares were sold at an average price of $27.22, for a total value of $408,300.00. Following the transaction, the insider now directly owns 61,997 shares in the company, valued at $1,687,558.34. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 3.10% of the stock is owned by insiders.

Consolidated Communications Holdings 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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