KBC Group NV Acquires 111,711 Shares of SBA Communications Co. (NASDAQ:SBAC)

KBC Group NV boosted its position in SBA Communications Co. (NASDAQ:SBAC - Free Report) by 570.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 131,286 shares of the technology company's stock after buying an additional 111,711 shares during the period. KBC Group NV owned approximately 0.12% of SBA Communications worth $31,601,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC lifted its holdings in SBA Communications by 72.5% in the 1st quarter. Janney Montgomery Scott LLC now owns 2,389 shares of the technology company's stock valued at $518,000 after purchasing an additional 1,004 shares in the last quarter. Empowered Funds LLC grew its position in shares of SBA Communications by 28.2% during the first quarter. Empowered Funds LLC now owns 1,355 shares of the technology company's stock worth $294,000 after buying an additional 298 shares in the last quarter. State Board of Administration of Florida Retirement System increased its position in shares of SBA Communications by 20.9% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 136,400 shares of the technology company's stock worth $29,558,000 after purchasing an additional 23,543 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in SBA Communications by 15.5% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 125,631 shares of the technology company's stock valued at $27,224,000 after buying an additional 16,831 shares in the last quarter. Finally, Centersquare Investment Management LLC increased its stake in SBA Communications by 1.9% during the first quarter. Centersquare Investment Management LLC now owns 168,379 shares of the technology company's stock valued at $36,488,000 after purchasing an additional 3,087 shares during the last quarter. 97.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on SBAC. Morgan Stanley upped their price objective on SBA Communications from $232.00 to $252.00 and gave the stock an "overweight" rating in a research note on Wednesday, September 18th. BMO Capital Markets lifted their target price on SBA Communications from $255.00 to $260.00 and gave the company an "outperform" rating in a research note on Tuesday, October 29th. JPMorgan Chase & Co. increased their price target on SBA Communications from $228.00 to $250.00 and gave the stock a "neutral" rating in a research note on Monday, September 23rd. TD Cowen lifted their price objective on shares of SBA Communications from $251.00 to $261.00 and gave the company a "buy" rating in a research note on Tuesday, October 29th. Finally, The Goldman Sachs Group increased their target price on shares of SBA Communications from $212.00 to $240.00 and gave the company a "neutral" rating in a research report on Thursday, September 26th. Three analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $257.23.

SBA Communications Price Performance

SBA Communications stock traded up $2.62 during mid-day trading on Friday, hitting $221.09. The company's stock had a trading volume of 818,540 shares, compared to its average volume of 929,385. SBA Communications Co. has a 52-week low of $183.64 and a 52-week high of $258.76. The firm's 50 day moving average is $236.70 and its 200 day moving average is $216.02. The company has a market cap of $23.77 billion, a PE ratio of 34.38, a price-to-earnings-growth 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 EPS for the quarter, missing analysts' consensus estimates of $3.17 by ($0.77). The company had revenue of $667.60 million for the quarter, compared to analysts' expectations of $669.29 million. SBA Communications had a net margin of 25.76% and a negative return on equity of 13.13%. The business's revenue for the quarter was down 2.2% on a year-over-year basis. During the same period in the previous year, the firm posted $3.34 earnings per share. As a group, analysts forecast that SBA Communications Co. will post 12.56 EPS for the current year.

SBA Communications Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 14th will be given a $0.98 dividend. This represents a $3.92 annualized dividend and a yield of 1.77%. The ex-dividend date is Thursday, November 14th. SBA Communications's dividend payout ratio is 61.83%.

Insider Transactions at SBA Communications

In related news, EVP Donald Day sold 1,500 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $242.86, for a total transaction of $364,290.00. Following the completion of the sale, the executive vice president now owns 4,998 shares in the company, valued at $1,213,814.28. This represents a 23.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director George R. Krouse, Jr. sold 325 shares of the business's stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $219.58, for a total transaction of $71,363.50. Following the transaction, the director now owns 8,084 shares in the company, valued at approximately $1,775,084.72. The trade was a 3.86 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by company 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.