TD Asset Management Inc Boosts Stock Holdings in SBA Communications Co. (NASDAQ:SBAC)

TD Asset Management Inc grew its position in shares of SBA Communications Co. (NASDAQ:SBAC) by 1.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,143 shares of the technology company’s stock after purchasing an additional 838 shares during the quarter. TD Asset Management Inc’s holdings in SBA Communications were worth $9,254,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in SBAC. Ridgewood Investments LLC purchased a new stake in SBA Communications in the 2nd quarter worth $32,000. Family Firm Inc. purchased a new stake in SBA Communications in the 2nd quarter worth $36,000. Quarry LP increased its holdings in SBA Communications by 400.0% in the 4th quarter. Quarry LP now owns 165 shares of the technology company’s stock worth $42,000 after acquiring an additional 132 shares in the last quarter. Versant Capital Management Inc increased its holdings in SBA Communications by 4,500.0% in the 2nd quarter. Versant Capital Management Inc now owns 276 shares of the technology company’s stock worth $54,000 after acquiring an additional 270 shares in the last quarter. Finally, Crewe Advisors LLC purchased a new stake in SBA Communications in the 1st quarter worth $70,000. 97.35% of the stock is owned by hedge funds and other institutional investors.

SBA Communications Trading Up 1.1 %

Shares of SBAC stock opened at $242.53 on Wednesday. The company’s 50-day moving average price is $217.13 and its 200-day moving average price is $207.38. The stock has a market cap of $26.06 billion, a price-to-earnings ratio of 47.55, a PEG ratio of 0.73 and a beta of 0.67. SBA Communications Co. has a twelve month low of $183.64 and a twelve month high of $258.76.

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

SBA Communications Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Thursday, August 22nd will be given a $0.98 dividend. The ex-dividend date of this dividend is Thursday, August 22nd. This represents a $3.92 dividend on an annualized basis and a yield of 1.62%. SBA Communications’s payout ratio is currently 76.86%.

Wall Street Analyst Weigh In

SBAC has been the subject of several recent analyst reports. Wells Fargo & Company lowered shares of SBA Communications from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $230.00 to $220.00 in a report on Monday, July 15th. Deutsche Bank Aktiengesellschaft lifted their target price 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. BMO Capital Markets lowered their target price on shares of SBA Communications from $250.00 to $245.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 30th. TD Cowen lowered their target price on shares of SBA Communications from $253.00 to $251.00 and set a “buy” rating on the stock in a research note on Tuesday, July 30th. Finally, StockNews.com cut shares of SBA Communications from a “buy” rating to a “hold” rating in a research note on Wednesday, September 4th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, SBA Communications presently has an average rating of “Moderate Buy” and an average target price of $237.92.

Insider Buying and Selling at SBA Communications

In other SBA Communications news, Chairman Jeffrey Stoops sold 49,765 shares of the company’s 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 transaction, the chairman now owns 109,583 shares of the company’s stock, valued at $24,328,521.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other SBA Communications news, Director George R. Krouse, Jr. sold 325 shares of the business’s 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 directly owns 8,084 shares in the company, valued at $1,775,084.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Jeffrey Stoops sold 49,765 shares of the business’s stock in a transaction dated 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 in the company, valued at $24,328,521.83. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by corporate insiders.

SBA Communications Company 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.