Natixis Advisors LLC Grows Stock Holdings in SBA Communications Co. (NASDAQ:SBAC)

Natixis Advisors LLC lifted its holdings in SBA Communications Co. (NASDAQ:SBAC - Free Report) by 46.4% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 74,835 shares of the technology company's stock after purchasing an additional 23,715 shares during the period. Natixis Advisors LLC owned about 0.07% of SBA Communications worth $18,013,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mizuho Securities USA LLC lifted its position in SBA Communications by 1,011.1% during the third quarter. Mizuho Securities USA LLC now owns 92,079 shares of the technology company's stock valued at $22,163,000 after purchasing an additional 83,792 shares in the last quarter. Empowered Funds LLC raised its stake in shares of SBA Communications by 346.4% in the third quarter. Empowered Funds LLC now owns 7,883 shares of the technology company's stock worth $1,897,000 after buying an additional 6,117 shares during the period. CIBC Asset Management Inc lifted its position in shares of SBA Communications by 8.3% during the 3rd quarter. CIBC Asset Management Inc now owns 15,673 shares of the technology company's stock valued at $3,772,000 after buying an additional 1,202 shares in the last quarter. Metis Global Partners LLC grew its stake in shares of SBA Communications by 1.2% during the 3rd quarter. Metis Global Partners LLC now owns 5,527 shares of the technology company's stock valued at $1,330,000 after acquiring an additional 66 shares during the period. Finally, KBC Group NV increased its holdings in SBA Communications by 570.7% in the 3rd quarter. KBC Group NV now owns 131,286 shares of the technology company's stock worth $31,601,000 after acquiring an additional 111,711 shares in the last quarter. Hedge funds and other institutional investors own 97.35% of the company's stock.

Insider Buying and Selling at SBA Communications

In other news, EVP Donald Day sold 1,500 shares of the company's 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 transaction, the executive vice president now owns 4,998 shares of the company's stock, valued at approximately $1,213,814.28. This represents a 23.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 1.30% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on SBAC shares. StockNews.com upgraded shares of SBA Communications from a "hold" rating to a "buy" rating in a research report on Thursday, November 7th. The Goldman Sachs Group increased their price target on SBA Communications from $212.00 to $240.00 and gave the stock a "neutral" rating in a research note on Thursday, September 26th. Barclays boosted their price objective on SBA Communications from $236.00 to $256.00 and gave the company an "overweight" rating in a research report on Thursday, October 10th. TD Cowen increased their target price 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, BMO Capital Markets boosted their price target on SBA Communications from $255.00 to $260.00 and gave the stock an "outperform" rating in a report on Tuesday, October 29th. 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 MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $257.23.

SBA Communications Price Performance

Shares of NASDAQ SBAC traded down $0.39 during mid-day trading on Wednesday, hitting $219.08. 177,293 shares of the company's stock traded hands, compared to its average volume of 924,347. SBA Communications Co. has a 1 year low of $183.64 and a 1 year high of $258.76. The company's 50-day moving average is $235.53 and its two-hundred day moving average is $216.94. The company has a market capitalization of $23.56 billion, a P/E ratio of 34.62, a PEG ratio of 0.75 and a beta of 0.68.

SBA Communications (NASDAQ:SBAC - Get Free Report) last issued its quarterly earnings data on Monday, October 28th. The technology company reported $2.40 earnings per share (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 company's revenue for the quarter was down 2.2% on a year-over-year basis. During the same quarter last year, the company earned $3.34 earnings per share. Equities analysts anticipate that SBA Communications Co. will post 12.56 EPS for the current fiscal year.

SBA Communications Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 14th will be paid a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a yield of 1.79%. The ex-dividend date is Thursday, November 14th. SBA Communications's payout ratio is 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.