Janus Henderson Group PLC Has $41.66 Million Stock Position in SBA Communications Co. (NASDAQ:SBAC)

Janus Henderson Group PLC lowered its stake in shares of SBA Communications Co. (NASDAQ:SBAC - Free Report) by 30.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 173,104 shares of the technology company's stock after selling 74,971 shares during the quarter. Janus Henderson Group PLC owned about 0.16% of SBA Communications worth $41,656,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Diamond Hill Capital Management Inc. lifted its holdings in shares of SBA Communications by 13.4% during 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 acquiring an additional 233,179 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in SBA Communications by 5.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,269,786 shares of the technology company's stock worth $305,637,000 after purchasing an additional 62,555 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of SBA Communications by 2,821.5% in 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 purchasing an additional 1,174,469 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of 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 purchasing an additional 159,433 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of SBA Communications by 377.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 886,384 shares of the technology company's stock valued at $213,353,000 after purchasing an additional 700,791 shares during the last quarter. Institutional investors own 97.35% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on SBAC. KeyCorp upped their price objective on SBA Communications from $230.00 to $280.00 and gave the stock an "overweight" rating in a research report on Monday, October 14th. JPMorgan Chase & Co. raised their price target on shares of SBA Communications from $228.00 to $250.00 and gave the company a "neutral" rating in a research note on Monday, September 23rd. Deutsche Bank Aktiengesellschaft upped 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. The Goldman Sachs Group increased their price objective on shares of SBA Communications from $212.00 to $240.00 and gave the company a "neutral" rating in a research note on Thursday, September 26th. Finally, TD Cowen boosted their target price on shares of SBA Communications from $251.00 to $261.00 and gave the stock a "buy" rating in a research note on Tuesday, October 29th. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $257.23.

Insider Activity at SBA Communications

In other SBA Communications news, EVP Donald Day sold 1,500 shares of SBA Communications stock in a transaction that occurred on Friday, September 13th. The stock was 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 directly owns 4,998 shares in the company, valued at approximately $1,213,814.28. The trade was a 23.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.30% of the stock is owned by company insiders.

SBA Communications Stock Down 0.5 %

Shares of NASDAQ SBAC traded down $1.20 during trading on Friday, reaching $220.38. The company had a trading volume of 1,072,271 shares, compared to its average volume of 809,914. The stock has a market cap of $23.70 billion, a P/E ratio of 34.76, a PEG ratio of 0.75 and a beta of 0.67. The company's fifty day moving average price is $231.02 and its 200-day moving average price is $219.09. SBA Communications Co. has a 12 month low of $183.64 and a 12 month high of $258.76.

SBA Communications (NASDAQ:SBAC - Get Free Report) last announced its earnings results on Monday, October 28th. The technology company reported $2.40 EPS 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 company had revenue of $667.60 million during the quarter, compared to the consensus estimate of $669.29 million. During the same quarter in the previous year, the company earned $3.34 earnings per share. The business's revenue was down 2.2% on a year-over-year basis. As a group, equities analysts predict that SBA Communications Co. will post 12.56 earnings per share for the current year.

SBA Communications Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 14th will be paid a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date of this dividend is Thursday, November 14th. SBA Communications's dividend payout ratio is presently 61.83%.

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.