Commonwealth Equity Services LLC Purchases 630 Shares of SBA Communications Co. (NASDAQ:SBAC)

Commonwealth Equity Services LLC boosted its position in SBA Communications Co. (NASDAQ:SBAC) by 6.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,419 shares of the technology company’s stock after acquiring an additional 630 shares during the quarter. Commonwealth Equity Services LLC’s holdings in SBA Communications were worth $2,045,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings 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 worth $3,763,691,000 after buying an additional 88,339 shares during the period. Principal Financial Group Inc. boosted its holdings in SBA Communications by 54.9% in 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 period. Brown Advisory Inc. boosted its holdings in SBA Communications by 7.9% in the 4th quarter. Brown Advisory Inc. now owns 2,091,103 shares of the technology company’s stock worth $530,492,000 after buying an additional 153,299 shares during the period. Norges Bank bought a new position in SBA Communications in the 4th quarter worth $286,079,000. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of SBA Communications by 3.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 986,487 shares of the technology company’s stock valued at $213,773,000 after purchasing an additional 33,507 shares during the last quarter. Institutional investors own 97.35% of the company’s stock.

Analyst Ratings Changes

SBAC has been the topic of several recent research reports. StockNews.com cut shares of SBA Communications from a “buy” rating to a “hold” rating in a research report on Thursday. Royal Bank of Canada upped their price target on SBA Communications from $235.00 to $245.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. Barclays reduced their target price on SBA Communications from $240.00 to $236.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft boosted their price target on SBA Communications from $230.00 to $240.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Finally, BMO Capital Markets dropped their price target on SBA Communications from $250.00 to $245.00 and set an “outperform” rating on the stock in a research note 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’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $237.92.

Insider Buying and Selling

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

SBA Communications Price Performance

Shares of NASDAQ:SBAC opened at $242.95 on Friday. The business’s 50 day simple moving average is $220.11 and its 200-day simple moving average is $208.09. The firm has a market capitalization of $26.11 billion, a price-to-earnings ratio of 47.64, a price-to-earnings-growth ratio of 0.74 and a beta of 0.67. SBA Communications Co. has a 12 month low of $183.64 and a 12 month high of $258.76.

SBA Communications (NASDAQ:SBAC) last issued 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 business had revenue of $660.50 million during the quarter, compared to analyst estimates of $665.21 million. SBA Communications had a net margin of 19.22% and a negative return on equity of 9.85%. The company’s revenue was down 2.7% on a year-over-year basis. During the same quarter last year, the firm posted $3.24 earnings per share. On average, equities analysts anticipate that SBA Communications Co. will post 12.53 earnings per share for the current year.

SBA Communications Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Thursday, August 22nd will be given a dividend of $0.98 per share. The ex-dividend date is Thursday, August 22nd. This represents a $3.92 dividend on an annualized basis and a yield of 1.61%. SBA Communications’s dividend payout ratio (DPR) is 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.