Bank of America Corp DE raised its stake in shares of Consolidated Communications Holdings, Inc. (NASDAQ:CNSL) by 43.1% during the first quarter, Holdings Channel reports. The firm owned 97,051 shares of the utilities provider’s stock after buying an additional 29,216 shares during the period. Bank of America Corp DE’s holdings in Consolidated Communications Holdings were worth $2,273,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in CNSL. BlackRock Inc. boosted its stake in Consolidated Communications Holdings by 97,076.8% in the first quarter. BlackRock Inc. now owns 7,040,459 shares of the utilities provider’s stock valued at $164,887,000 after buying an additional 7,033,214 shares during the period. Vanguard Group Inc. boosted its stake in Consolidated Communications Holdings by 7.3% in the first quarter. Vanguard Group Inc. now owns 5,607,472 shares of the utilities provider’s stock valued at $131,326,000 after buying an additional 380,770 shares during the period. Dimensional Fund Advisors LP boosted its stake in Consolidated Communications Holdings by 1.7% in the first quarter. Dimensional Fund Advisors LP now owns 1,941,090 shares of the utilities provider’s stock valued at $45,461,000 after buying an additional 32,584 shares during the period. Bank of New York Mellon Corp boosted its stake in Consolidated Communications Holdings by 3.1% in the first quarter. Bank of New York Mellon Corp now owns 1,238,908 shares of the utilities provider’s stock valued at $29,014,000 after buying an additional 37,159 shares during the period. Finally, Private Management Group Inc. boosted its stake in Consolidated Communications Holdings by 9.4% in the first quarter. Private Management Group Inc. now owns 1,047,243 shares of the utilities provider’s stock valued at $24,526,000 after buying an additional 89,964 shares during the period. 67.14% of the stock is currently owned by institutional investors.

Shares of Consolidated Communications Holdings, Inc. (CNSL) traded up 1.15% during mid-day trading on Friday, reaching $19.27. The company had a trading volume of 102,500 shares. The stock has a 50 day moving average of $19.39 and a 200-day moving average of $22.15. The company has a market capitalization of $1.37 billion, a price-to-earnings ratio of 6423.33 and a beta of 0.91. Consolidated Communications Holdings, Inc. has a 52 week low of $17.41 and a 52 week high of $30.23.

Consolidated Communications Holdings (NASDAQ:CNSL) last issued its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.03. The company had revenue of $169.95 million for the quarter, compared to the consensus estimate of $169.69 million. Consolidated Communications Holdings had a return on equity of 15.30% and a net margin of 0.09%. Consolidated Communications Holdings’s revenue for the quarter was down 9.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.20 earnings per share. On average, analysts expect that Consolidated Communications Holdings, Inc. will post $0.61 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Sunday, October 15th will be given a dividend of $0.3874 per share. The ex-dividend date of this dividend is Thursday, October 12th. This represents a $1.55 dividend on an annualized basis and a yield of 8.13%. Consolidated Communications Holdings’s dividend payout ratio is currently 15,500.00%.

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CNSL has been the topic of several recent analyst reports. Citigroup Inc. raised Consolidated Communications Holdings from a “sell” rating to a “neutral” rating in a research report on Wednesday, June 7th. BidaskClub cut Consolidated Communications Holdings from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. ValuEngine raised Consolidated Communications Holdings from a “sell” rating to a “hold” rating in a research report on Tuesday, July 25th. TheStreet cut Consolidated Communications Holdings from a “c” rating to a “d+” rating in a research report on Thursday, August 3rd. Finally, Raymond James Financial, Inc. raised Consolidated Communications Holdings from an “outperform” rating to a “strong-buy” rating and set a $26.00 target price on the stock in a research report on Friday, June 9th. One analyst has rated the stock with a sell rating, six have given a hold rating, two have assigned a buy rating and two have given a strong buy rating to the stock. Consolidated Communications Holdings has an average rating of “Hold” and an average target price of $25.60.

In other Consolidated Communications Holdings news, Director Robert J. Currey purchased 5,000 shares of the stock in a transaction on Wednesday, August 9th. The shares were bought at an average price of $19.33 per share, for a total transaction of $96,650.00. Following the completion of the transaction, the director now owns 48,495 shares of the company’s stock, valued at approximately $937,408.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 3.00% of the company’s stock.

About Consolidated Communications Holdings

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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Institutional Ownership by Quarter for Consolidated Communications Holdings (NASDAQ:CNSL)

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