Sustainable Insight Capital Management LLC Has $226,000 Stock Position in SBA Communications Co. (NASDAQ:SBAC)

Sustainable Insight Capital Management LLC reduced its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 8.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,042 shares of the technology company’s stock after selling 100 shares during the quarter. Sustainable Insight Capital Management LLC’s holdings in SBA Communications were worth $226,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Principal Financial Group Inc. lifted its position in shares of SBA Communications by 54.9% during the 1st quarter. Principal Financial Group Inc. now owns 4,300,157 shares of the technology company’s stock worth $931,844,000 after buying an additional 1,524,302 shares during the last quarter. Norges Bank bought a new stake in shares of SBA Communications during the 4th quarter worth $286,079,000. The Manufacturers Life Insurance Company lifted its position in shares of SBA Communications by 111.8% during the 4th quarter. The Manufacturers Life Insurance Company now owns 734,795 shares of the technology company’s stock worth $186,410,000 after buying an additional 387,855 shares during the last quarter. BNP Paribas Financial Markets lifted its position in shares of SBA Communications by 144.7% during the 1st quarter. BNP Paribas Financial Markets now owns 359,736 shares of the technology company’s stock worth $77,955,000 after buying an additional 212,739 shares during the last quarter. Finally, Westfield Capital Management Co. LP bought a new position in SBA Communications in the fourth quarter valued at about $53,679,000. 97.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on SBAC shares. KeyCorp dropped their target price on SBA Communications from $276.00 to $227.00 and set an “overweight” rating for the company in a research report on Tuesday, April 30th. StockNews.com downgraded SBA Communications from a “buy” rating to a “hold” rating in a research report on Tuesday. The Goldman Sachs Group started coverage on SBA Communications in a research report on Monday, July 1st. They issued a “neutral” rating and a $212.00 target price for the company. Wells Fargo & Company dropped their target price on SBA Communications from $260.00 to $230.00 and set an “overweight” rating for the company in a research report on Tuesday, April 30th. Finally, Royal Bank of Canada dropped their target price on SBA Communications from $250.00 to $235.00 and set an “outperform” rating for the company in a research report on Thursday, May 9th. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $249.08.

SBA Communications Trading Up 1.4 %

NASDAQ SBAC traded up $2.97 during trading hours on Friday, hitting $212.83. 1,345,152 shares of the company’s stock were exchanged, compared to its average volume of 730,681. The stock has a 50-day simple moving average of $195.11 and a 200 day simple moving average of $210.43. SBA Communications Co. has a 1-year low of $183.64 and a 1-year high of $258.76. The firm has a market cap of $22.87 billion, a price-to-earnings ratio of 41.73, a PEG ratio of 0.67 and a beta of 0.65.

SBA Communications (NASDAQ:SBAC) last released its earnings results on Monday, April 29th. The technology company reported $1.42 EPS for the quarter, topping the consensus estimate of $1.21 by $0.21. SBA Communications had a negative return on equity of 10.75% and a net margin of 20.61%. The business had revenue of $657.86 million during the quarter, compared to analysts’ expectations of $671.08 million. During the same quarter last year, the firm posted $3.13 earnings per share. The firm’s revenue was down 2.6% on a year-over-year basis. On average, sell-side analysts anticipate that SBA Communications Co. will post 12.51 earnings per share for the current fiscal year.

SBA Communications Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 19th. Shareholders of record on Thursday, May 23rd were paid a $0.98 dividend. The ex-dividend date of this dividend was Wednesday, May 22nd. This represents a $3.92 dividend on an annualized basis and a yield of 1.84%. SBA Communications’s dividend payout ratio (DPR) is presently 76.86%.

SBA Communications Profile

SBA Communications Corporation is a leading independent owner and operator of wireless communications infrastructure including towers, buildings, rooftops, distributed antenna systems (DAS) and small cells. With a portfolio of more than 39,000 communications sites throughout the Americas, Africa and in Asia, SBA is listed on NASDAQ under the symbol SBAC.