SBA Communications Co. (NASDAQ:SBAC) Stake Lessened by Intech Investment Management LLC

Intech Investment Management LLC trimmed its holdings in SBA Communications Co. (NASDAQ:SBAC - Free Report) by 48.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,718 shares of the technology company's stock after selling 2,583 shares during the period. Intech Investment Management LLC's holdings in SBA Communications were worth $654,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Diamond Hill Capital Management Inc. boosted its position in shares of SBA Communications by 13.4% in the second quarter. Diamond Hill Capital Management Inc. now owns 1,973,867 shares of the technology company's stock worth $387,470,000 after acquiring an additional 233,179 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of 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 valued at $292,714,000 after buying an additional 1,174,469 shares during the period. American Century Companies Inc. grew its stake in shares of SBA Communications by 15.5% during 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. Thrivent Financial for Lutherans increased 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 worth $210,600,000 after buying an additional 72,255 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. raised its position in shares of SBA Communications by 34.7% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 792,147 shares of the technology company's stock worth $155,498,000 after buying an additional 203,938 shares during the period. Hedge funds and other institutional investors own 97.35% of the company's stock.

Insider Buying and Selling

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

SBA Communications Trading Down 1.0 %

NASDAQ SBAC traded down $2.26 during trading hours on Friday, reaching $226.25. 351,601 shares of the company traded hands, compared to its average volume of 905,552. SBA Communications Co. has a 12 month low of $183.64 and a 12 month high of $258.76. The company has a 50 day moving average of $232.78 and a two-hundred day moving average of $218.33. The stock has a market capitalization of $24.33 billion, a PE ratio of 35.69, a PEG ratio of 0.76 and a beta of 0.68.

SBA Communications (NASDAQ:SBAC - Get Free Report) last released its earnings results 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 net margin of 25.76% and a negative return on equity of 13.13%. The business had revenue of $667.60 million for the quarter, compared to the consensus estimate of $669.29 million. During the same quarter in the previous year, the firm earned $3.34 EPS. The firm's revenue for the quarter was down 2.2% on a year-over-year basis. On average, equities research analysts anticipate 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 dividend of $0.98 per share. This represents a $3.92 annualized dividend and a dividend yield of 1.73%. The ex-dividend date is Thursday, November 14th. SBA Communications's dividend payout ratio (DPR) is presently 61.83%.

Analysts Set New Price Targets

Several equities research analysts have commented on SBAC shares. Barclays upped their price target on SBA Communications from $236.00 to $256.00 and gave the stock an "overweight" rating in a research note on Thursday, October 10th. Royal Bank of Canada raised their price target on shares of SBA Communications from $235.00 to $245.00 and gave the company an "outperform" rating in a report on Monday, August 5th. BMO Capital Markets lifted their price target on shares of SBA Communications from $255.00 to $260.00 and gave the company an "outperform" rating in a research report on Tuesday, October 29th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of SBA Communications from $230.00 to $240.00 and gave the stock a "buy" rating in a research report on Wednesday, August 14th. Finally, StockNews.com upgraded shares of SBA Communications from a "hold" rating to a "buy" rating in a report on Thursday, November 7th. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, SBA Communications currently has a consensus rating of "Moderate Buy" and a consensus price target of $257.23.

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.