Prudential Financial Inc. lifted its stake in Cable One Inc (NYSE:CABO) by 361.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,314 shares of the company’s stock after acquiring an additional 29,226 shares during the period. Prudential Financial Inc. owned approximately 0.65% of Cable One worth $32,972,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of CABO. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Cable One by 44.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 226 shares of the company’s stock worth $166,000 after acquiring an additional 70 shares during the period. Sterling Capital Management LLC bought a new position in shares of Cable One in the second quarter worth $202,000. Parametrica Management Ltd bought a new position in shares of Cable One in the third quarter worth $204,000. Palisade Asset Management LLC bought a new stake in Cable One during the second quarter valued at $205,000. Finally, Levin Capital Strategies L.P. bought a new stake in Cable One during the second quarter valued at $220,000. 80.47% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts recently issued reports on CABO shares. ValuEngine lowered Cable One from a “hold” rating to a “sell” rating in a research note on Thursday, August 2nd. B. Riley set a $860.00 price objective on Cable One and gave the company a “buy” rating in a research note on Monday, August 13th. Zacks Investment Research raised Cable One from a “hold” rating to a “buy” rating and set a $868.00 price objective for the company in a research note on Monday, August 13th. Raymond James lowered Cable One from an “outperform” rating to a “market perform” rating in a research note on Wednesday, September 19th. Finally, SunTrust Banks lowered Cable One from a “buy” rating to a “hold” rating in a research note on Thursday, November 8th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. Cable One has an average rating of “Hold” and a consensus target price of $845.67.
Cable One (NYSE:CABO) last released its quarterly earnings results on Wednesday, November 7th. The company reported $6.70 earnings per share for the quarter, missing the Zacks’ consensus estimate of $7.84 by ($1.14). The firm had revenue of $268.30 million for the quarter, compared to analysts’ expectations of $267.53 million. Cable One had a net margin of 25.08% and a return on equity of 22.03%. The company’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.48 EPS. On average, analysts predict that Cable One Inc will post 29.33 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 7th. Stockholders of record on Tuesday, November 20th will be issued a $2.00 dividend. The ex-dividend date is Monday, November 19th. This represents a $8.00 annualized dividend and a dividend yield of 0.94%. Cable One’s dividend payout ratio is currently 37.02%.
In related news, SVP Kenneth E. Johnson acquired 170 shares of the firm’s stock in a transaction dated Thursday, November 15th. The shares were purchased at an average price of $863.84 per share, for a total transaction of $146,852.80. Following the completion of the acquisition, the senior vice president now owns 741 shares in the company, valued at $640,105.44. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director Katharine Weymouth sold 254 shares of Cable One stock in a transaction dated Friday, August 31st. The stock was sold at an average price of $834.30, for a total value of $211,912.20. Following the completion of the transaction, the director now owns 255 shares in the company, valued at approximately $212,746.50. The disclosure for this sale can be found here. In the last quarter, insiders bought 570 shares of company stock worth $495,116. Company insiders own 1.10% of the company’s stock.
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Cable One Company Profile
Cable One, Inc owns and operates cable systems that provide data, video, and voice services in the United States. The company offers data services, including home.cableone.net, an Internet portal that provides various email addresses; and WiFi ONE, a Wi-Fi solution to enhance Wi-Fi signal throughout the home.
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