Sustainable Insight Capital Management LLC Acquires 258 Shares of SBA Communications Co. (NASDAQ:SBAC)

Sustainable Insight Capital Management LLC grew its position in SBA Communications Co. (NASDAQ:SBAC) by 24.8% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,300 shares of the technology company’s stock after purchasing an additional 258 shares during the period. Sustainable Insight Capital Management LLC’s holdings in SBA Communications were worth $255,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in SBA Communications by 0.5% in the first quarter. Vanguard Group Inc. now owns 17,368,209 shares of the technology company’s stock valued at $3,763,691,000 after purchasing an additional 88,339 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of SBA Communications by 54.9% in the first quarter. Principal Financial Group Inc. now owns 4,300,157 shares of the technology company’s stock worth $931,844,000 after purchasing an additional 1,524,302 shares during the last quarter. Brown Advisory Inc. raised its position in SBA Communications by 7.9% during the fourth quarter. Brown Advisory Inc. now owns 2,091,103 shares of the technology company’s stock valued at $530,492,000 after purchasing an additional 153,299 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of SBA Communications by 9.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,958,156 shares of the technology company’s stock worth $496,765,000 after acquiring an additional 166,554 shares during the last quarter. Finally, Norges Bank purchased a new stake in SBA Communications during the 4th quarter valued at about $286,079,000. Hedge funds and other institutional investors own 97.35% of the company’s stock.

Insider Transactions at SBA Communications

In other SBA Communications news, Director George R. Krouse, Jr. sold 325 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $219.58, for a total transaction of $71,363.50. Following the transaction, the director now directly owns 8,084 shares in the company, valued at approximately $1,775,084.72. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other SBA Communications news, Director George R. Krouse, Jr. sold 325 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $219.58, for a total transaction of $71,363.50. Following the completion of the sale, the director now directly owns 8,084 shares of the company’s stock, valued at $1,775,084.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Jeffrey Stoops sold 49,765 shares of SBA Communications stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $222.01, for a total transaction of $11,048,327.65. Following the completion of the transaction, the chairman now directly owns 109,583 shares in the company, valued at approximately $24,328,521.83. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Royal Bank of Canada lifted their target price on shares of SBA Communications from $235.00 to $245.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. The Goldman Sachs Group assumed coverage on SBA Communications in a research report on Monday, July 1st. They set a “neutral” rating and a $212.00 price objective on the stock. KeyCorp boosted their target price on shares of SBA Communications from $227.00 to $230.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of SBA Communications from $230.00 to $240.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Finally, Barclays reduced their price target on SBA Communications from $240.00 to $236.00 and set an “overweight” rating for the company in a research report on Tuesday, July 30th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, SBA Communications currently has a consensus rating of “Moderate Buy” and an average price target of $237.92.

SBA Communications Price Performance

Shares of NASDAQ SBAC opened at $238.51 on Friday. SBA Communications Co. has a 1-year low of $183.64 and a 1-year high of $258.76. The business’s 50 day moving average is $215.05 and its two-hundred day moving average is $206.98. The stock has a market capitalization of $25.63 billion, a P/E ratio of 46.77, a PEG ratio of 0.70 and a beta of 0.67.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings results on Monday, July 29th. The technology company reported $1.51 earnings per share for the quarter, missing the consensus estimate of $2.07 by ($0.56). The company had revenue of $660.50 million for the quarter, compared to analysts’ expectations of $665.21 million. SBA Communications had a net margin of 19.22% and a negative return on equity of 9.85%. The business’s quarterly revenue was down 2.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.24 EPS. As a group, equities research analysts anticipate that SBA Communications Co. will post 12.53 earnings per share for the current fiscal year.

SBA Communications Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Thursday, August 22nd will be paid a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date is Thursday, August 22nd. SBA Communications’s dividend payout ratio is currently 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.