Banque Cantonale Vaudoise Has $1.02 Million Stock Holdings in SBA Communications Co. (NASDAQ:SBAC)

Banque Cantonale Vaudoise cut its position in shares of SBA Communications Co. (NASDAQ:SBAC - Free Report) by 64.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,254 shares of the technology company's stock after selling 7,643 shares during the quarter. Banque Cantonale Vaudoise's holdings in SBA Communications were worth $1,024,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Diamond Hill Capital Management Inc. boosted its stake in SBA Communications by 13.4% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 1,973,867 shares of the technology company's stock worth $387,470,000 after purchasing an additional 233,179 shares during the period. Victory Capital Management Inc. boosted its position in SBA Communications by 2,821.5% during the 3rd quarter. Victory Capital Management Inc. now owns 1,216,094 shares of the technology company's stock worth $292,714,000 after acquiring an additional 1,174,469 shares during the period. American Century Companies Inc. increased its stake in SBA Communications by 15.5% in the 2nd quarter. American Century Companies Inc. now owns 1,190,288 shares of the technology company's stock valued at $233,654,000 after buying an additional 159,433 shares during the period. Price T Rowe Associates Inc. MD lifted its position in SBA Communications by 3.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 986,487 shares of the technology company's stock worth $213,773,000 after buying an additional 33,507 shares in the last quarter. Finally, Thrivent Financial for Lutherans grew its holdings in shares of SBA Communications by 9.0% during the 3rd quarter. Thrivent Financial for Lutherans now owns 874,945 shares of the technology company's stock valued at $210,600,000 after acquiring an additional 72,255 shares in the last quarter. 97.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. lifted their price objective on SBA Communications from $228.00 to $250.00 and gave the company a "neutral" rating in a research report on Monday, September 23rd. KeyCorp boosted their price target on SBA Communications from $230.00 to $280.00 and gave the company an "overweight" rating in a research note on Monday, October 14th. Raymond James raised their price objective on shares of SBA Communications from $285.00 to $300.00 and gave the company a "strong-buy" rating in a research report on Tuesday, October 29th. Morgan Stanley upped their price target on SBA Communications from $232.00 to $252.00 and gave the stock an "overweight" rating in a research note on Wednesday, September 18th. Finally, TD Cowen raised their price objective on SBA Communications from $251.00 to $261.00 and gave the company a "buy" rating in a research note on Tuesday, October 29th. Three investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, SBA Communications currently has a consensus rating of "Moderate Buy" and a consensus price target of $257.23.

SBA Communications Stock Up 0.2 %

NASDAQ SBAC traded up $0.49 during midday trading on Thursday, hitting $219.43. The company had a trading volume of 686,276 shares, compared to its average volume of 925,014. The firm has a fifty day simple moving average of $235.07 and a two-hundred day simple moving average of $216.95. SBA Communications Co. has a fifty-two week low of $183.64 and a fifty-two week high of $258.76. The stock has a market cap of $23.59 billion, a price-to-earnings ratio of 34.53, a P/E/G ratio of 0.74 and a beta of 0.68.

SBA Communications (NASDAQ:SBAC - Get Free Report) last announced its quarterly earnings data on Monday, October 28th. The technology company reported $2.40 earnings per share for the quarter, missing the consensus estimate of $3.17 by ($0.77). SBA Communications had a negative return on equity of 13.13% and a net margin of 25.76%. The firm had revenue of $667.60 million for the quarter, compared to analyst estimates of $669.29 million. During the same period in the previous year, the business posted $3.34 EPS. SBA Communications's revenue for the quarter was down 2.2% compared to the same quarter last year. As a group, equities analysts predict that SBA Communications Co. will post 12.56 earnings per share for the current year.

SBA Communications Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 14th will be issued a $0.98 dividend. The ex-dividend date is Thursday, November 14th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.79%. SBA Communications's payout ratio is presently 61.83%.

Insider Buying and Selling at SBA Communications

In related news, EVP Donald Day sold 1,500 shares of SBA Communications stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $242.86, for a total transaction of $364,290.00. Following the completion of the transaction, the executive vice president now directly owns 4,998 shares of the company's stock, valued at $1,213,814.28. This trade represents a 23.08 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.30% of the company's stock.

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.