SBA Communications Co. (NASDAQ:SBAC) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC reduced its position in shares of SBA Communications Co. (NASDAQ:SBAC) by 80.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,301 shares of the technology company’s stock after selling 22,074 shares during the period. Intech Investment Management LLC’s holdings in SBA Communications were worth $1,041,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in SBAC. Gilbert & Cook Inc. grew its stake in shares of SBA Communications by 8.3% during the fourth quarter. Gilbert & Cook Inc. now owns 2,386 shares of the technology company’s stock valued at $605,000 after acquiring an additional 183 shares in the last quarter. Corient Private Wealth LLC boosted its holdings in SBA Communications by 11.7% in the fourth quarter. Corient Private Wealth LLC now owns 13,330 shares of the technology company’s stock valued at $3,382,000 after purchasing an additional 1,391 shares during the last quarter. Commerce Bank grew its stake in SBA Communications by 4.5% during the 4th quarter. Commerce Bank now owns 2,405 shares of the technology company’s stock valued at $610,000 after purchasing an additional 103 shares in the last quarter. Orion Portfolio Solutions LLC grew its stake in SBA Communications by 1.5% during the 4th quarter. Orion Portfolio Solutions LLC now owns 10,260 shares of the technology company’s stock valued at $2,549,000 after purchasing an additional 148 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its position in shares of SBA Communications by 6.3% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 28,310 shares of the technology company’s stock valued at $7,182,000 after purchasing an additional 1,667 shares in the last quarter. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

SBA Communications Price Performance

Shares of SBAC opened at $241.98 on Wednesday. The company has a market cap of $26.00 billion, a P/E ratio of 47.45, a PEG ratio of 0.75 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. The stock has a fifty day moving average price of $225.31 and a 200 day moving average price of $209.47.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings data on Monday, July 29th. The technology company reported $1.51 earnings per share for the quarter, missing analysts’ consensus estimates of $2.07 by ($0.56). The firm had revenue of $660.50 million during the quarter, compared to analyst estimates of $665.21 million. SBA Communications had a negative return on equity of 9.85% and a net margin of 19.22%. The firm’s revenue was down 2.7% on a year-over-year basis. During the same period last year, the business earned $3.24 EPS. As a group, research 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 disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Thursday, August 22nd were given a dividend of $0.98 per share. The ex-dividend date was Thursday, August 22nd. This represents a $3.92 annualized dividend and a dividend yield of 1.62%. SBA Communications’s dividend payout ratio is presently 76.86%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. KeyCorp raised their price target on shares of SBA Communications from $227.00 to $230.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Barclays decreased their price objective on shares of SBA Communications from $240.00 to $236.00 and set an “overweight” rating for the company in a report on Tuesday, July 30th. StockNews.com upgraded shares of SBA Communications from a “hold” rating to a “buy” rating in a research note on Friday, September 20th. Royal Bank of Canada lifted their price target on SBA Communications from $235.00 to $245.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on SBA Communications from $230.00 to $240.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $241.75.

Insider Buying and Selling

In other SBA Communications news, Chairman Jeffrey Stoops sold 49,765 shares of SBA Communications stock in a transaction 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 sale, the chairman now owns 109,583 shares of the company’s stock, valued at approximately $24,328,521.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Chairman Jeffrey Stoops sold 49,765 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $222.01, for a total value of $11,048,327.65. Following the completion of the transaction, the chairman now owns 109,583 shares in the company, valued at approximately $24,328,521.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Donald Day sold 1,500 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $242.86, for a total transaction of $364,290.00. Following the sale, the executive vice president now owns 4,998 shares in the company, valued at $1,213,814.28. The disclosure for this sale can be found here. Insiders sold 51,590 shares of company stock valued at $11,483,981 in the last three months. 1.30% of the stock is currently owned by corporate insiders.

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.