Sustainable Insight Capital Management LLC Boosts Position in SBA Communications Co. (NASDAQ:SBAC)

Sustainable Insight Capital Management LLC raised its holdings in shares of SBA Communications Co. (NASDAQ:SBAC) by 80.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,342 shares of the technology company’s stock after acquiring an additional 1,042 shares during the period. Sustainable Insight Capital Management LLC’s holdings in SBA Communications were worth $564,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. SG Americas Securities LLC boosted its holdings in SBA Communications by 191.3% in the first quarter. SG Americas Securities LLC now owns 25,828 shares of the technology company’s stock valued at $5,597,000 after purchasing an additional 16,962 shares during the last quarter. Virtu Financial LLC purchased a new stake in shares of SBA Communications in the first quarter worth about $1,764,000. Centersquare Investment Management LLC grew its holdings in SBA Communications by 1.9% during the first quarter. Centersquare Investment Management LLC now owns 168,379 shares of the technology company’s stock worth $36,488,000 after acquiring an additional 3,087 shares during the period. Tidal Investments LLC raised its position in SBA Communications by 105.4% during the first quarter. Tidal Investments LLC now owns 5,279 shares of the technology company’s stock valued at $1,144,000 after acquiring an additional 2,709 shares in the last quarter. Finally, Lazard Asset Management LLC lifted its holdings in SBA Communications by 7.8% in the first quarter. Lazard Asset Management LLC now owns 148,687 shares of the technology company’s stock valued at $32,219,000 after acquiring an additional 10,753 shares during the period. 97.35% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at SBA Communications

In related news, Director George R. Krouse, Jr. sold 325 shares of SBA Communications stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $219.58, for a total transaction of $71,363.50. Following the transaction, the director now owns 8,084 shares in the company, valued at approximately $1,775,084.72. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other SBA Communications news, Director George R. Krouse, Jr. sold 325 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $219.58, for a total value of $71,363.50. Following the completion of the sale, the director now directly owns 8,084 shares in the company, valued at $1,775,084.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Donald Day sold 1,500 shares of SBA Communications stock in a transaction on Friday, September 13th. The stock was sold at an average price of $242.86, for a total value of $364,290.00. Following the transaction, the executive vice president now owns 4,998 shares in the company, valued at approximately $1,213,814.28. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

SBA Communications Stock Performance

NASDAQ SBAC opened at $223.92 on Friday. The business has a fifty day moving average price of $237.64 and a 200 day moving average price of $215.43. The company has a market cap of $24.08 billion, a P/E ratio of 35.32, a P/E/G ratio of 0.74 and a beta of 0.68. SBA Communications Co. has a one year low of $183.64 and a one year high of $258.76.

SBA Communications (NASDAQ:SBAC) last issued its earnings results on Monday, October 28th. The technology company reported $2.40 EPS for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.77). The business had revenue of $667.60 million during the quarter, compared to analyst estimates of $669.29 million. SBA Communications had a net margin of 25.76% and a negative return on equity of 13.13%. SBA Communications’s quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter last year, the company earned $3.34 earnings per share. As a group, sell-side analysts predict that SBA Communications Co. will post 12.56 EPS for the current fiscal year.

SBA Communications Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 14th will be paid a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date is Thursday, November 14th. SBA Communications’s dividend payout ratio (DPR) is 61.83%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. TD Cowen raised their price objective on shares of SBA Communications from $251.00 to $261.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of SBA Communications from $230.00 to $240.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Wells Fargo & Company raised their target price on SBA Communications from $220.00 to $240.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. KeyCorp upped their price target on SBA Communications from $230.00 to $280.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Finally, StockNews.com raised SBA Communications from a “hold” rating to a “buy” rating in a report on Thursday. Three equities 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 MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $257.23.

About SBA Communications

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.