National Bank of Canada FI Has $17.29 Million Holdings in SBA Communications Co. (NASDAQ:SBAC)

National Bank of Canada FI boosted its holdings in SBA Communications Co. (NASDAQ:SBAC - Free Report) by 142.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 71,826 shares of the technology company's stock after purchasing an additional 42,230 shares during the period. National Bank of Canada FI owned about 0.07% of SBA Communications worth $17,288,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Ashton Thomas Securities LLC bought a new position in SBA Communications during the third quarter worth $26,000. Ridgewood Investments LLC bought a new position in SBA Communications in the second quarter worth about $32,000. Capital Performance Advisors LLP bought a new position in SBA Communications in the third quarter worth about $35,000. Family Firm Inc. bought a new position in shares of SBA Communications during the second quarter valued at approximately $36,000. Finally, Global X Japan Co. Ltd. acquired a new stake in shares of SBA Communications during the 2nd quarter worth approximately $49,000. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

SBA Communications Stock Performance

Shares of NASDAQ:SBAC traded down $5.88 during mid-day trading on Tuesday, hitting $217.38. The stock had a trading volume of 933,079 shares, compared to its average volume of 914,684. SBA Communications Co. has a 12-month low of $183.64 and a 12-month high of $258.76. The company has a market cap of $23.37 billion, a PE ratio of 34.29, a P/E/G ratio of 0.74 and a beta of 0.67. The company's 50 day moving average is $230.68 and its 200-day moving average is $219.51.

SBA Communications (NASDAQ:SBAC - Get Free Report) last issued its quarterly earnings results on Monday, October 28th. The technology company reported $2.40 earnings per share for the quarter, missing analysts' consensus estimates 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 analysts' expectations of $669.29 million. During the same quarter in the prior year, the firm posted $3.34 EPS. The business's quarterly revenue was down 2.2% compared to the same quarter last year. On average, equities research analysts predict that SBA Communications Co. will post 12.56 EPS for the current fiscal year.

SBA Communications Announces Dividend

The business 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. The ex-dividend date is Thursday, November 14th. This represents a $3.92 dividend on an annualized basis and a yield of 1.80%. SBA Communications's payout ratio is 61.83%.

Analysts Set New Price Targets

SBAC has been the topic of several analyst reports. JPMorgan Chase & Co. increased their target price on SBA Communications from $228.00 to $250.00 and gave the stock a "neutral" rating in a research report on Monday, September 23rd. Raymond James raised their price target on shares of SBA Communications from $285.00 to $300.00 and gave the company a "strong-buy" rating in a research note on Tuesday, October 29th. KeyCorp increased their price objective on SBA Communications from $230.00 to $280.00 and gave the stock an "overweight" rating in a report on Monday, October 14th. TD Cowen boosted their price target on SBA Communications from $251.00 to $261.00 and gave the stock a "buy" rating in a research report on Tuesday, October 29th. Finally, Barclays lifted their price objective on shares of SBA Communications from $236.00 to $256.00 and gave the company an "overweight" rating in a research note on Thursday, October 10th. Three analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, SBA Communications has a consensus rating of "Moderate Buy" and an average target price of $257.23.

Insider Activity

In other news, EVP Donald Day sold 1,500 shares of SBA Communications stock in a transaction dated 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 directly owns 4,998 shares in the company, valued at $1,213,814.28. The trade was a 23.08 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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.