Intact Investment Management Inc. Takes Position in SBA Communications Co. (NASDAQ:SBAC)

Intact Investment Management Inc. acquired a new stake in shares of SBA Communications Co. (NASDAQ:SBAC) during the 2nd quarter, HoldingsChannel.com reports. The firm acquired 4,100 shares of the technology company’s stock, valued at approximately $805,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. SG Americas Securities LLC raised its position in shares of SBA Communications by 191.3% during the first quarter. SG Americas Securities LLC now owns 25,828 shares of the technology company’s stock valued at $5,597,000 after buying an additional 16,962 shares during the last quarter. Franklin Resources Inc. raised its position in shares of SBA Communications by 2.8% during the fourth quarter. Franklin Resources Inc. now owns 707,743 shares of the technology company’s stock valued at $179,547,000 after buying an additional 19,462 shares during the last quarter. Nomura Holdings Inc. bought a new stake in shares of SBA Communications during the fourth quarter valued at approximately $7,422,000. Wellington Management Group LLP raised its position in shares of SBA Communications by 596.2% during the fourth quarter. Wellington Management Group LLP now owns 225,128 shares of the technology company’s stock valued at $57,113,000 after buying an additional 192,791 shares during the last quarter. Finally, Clear Rock Advisors LLC bought a new stake in shares of SBA Communications during the fourth quarter valued at approximately $1,900,000. Institutional investors own 97.35% of the company’s stock.

SBA Communications Trading Up 0.1 %

Shares of SBAC traded up $0.12 during trading hours on Friday, reaching $226.66. 1,081,888 shares of the company traded hands, compared to its average volume of 935,967. The firm has a market cap of $24.35 billion, a price-to-earnings ratio of 44.44, a PEG ratio of 0.67 and a beta of 0.65. SBA Communications Co. has a 12-month low of $183.64 and a 12-month high of $258.76. The stock’s fifty day moving average price is $211.34 and its 200 day moving average price is $206.15.

SBA Communications (NASDAQ:SBAC) last issued its earnings results on Monday, July 29th. The technology company reported $1.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.07 by ($0.56). The company had revenue of $660.50 million for the quarter, compared to analysts’ expectations of $665.21 million. SBA Communications had a net margin of 19.22% and a negative return on equity of 9.85%. The firm’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.24 earnings per share. On average, research analysts forecast that SBA Communications Co. will post 12.53 earnings per share for the current year.

SBA Communications Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Thursday, August 22nd will be paid a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date is Thursday, August 22nd. SBA Communications’s dividend payout ratio is currently 76.86%.

Insider Activity

In other news, Chairman Jeffrey Stoops sold 49,765 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $222.01, for a total transaction of $11,048,327.65. Following the completion of the sale, the chairman now directly owns 109,583 shares of the company’s stock, valued at $24,328,521.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other SBA Communications news, Director George R. Krouse, Jr. sold 325 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $219.58, for a total transaction of $71,363.50. Following the transaction, the director now directly owns 8,084 shares in the company, valued at approximately $1,775,084.72. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Jeffrey Stoops sold 49,765 shares of the stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $222.01, for a total transaction of $11,048,327.65. Following the transaction, the chairman now owns 109,583 shares in the company, valued at $24,328,521.83. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of SBA Communications in a research report on Monday, July 1st. They issued a “neutral” rating and a $212.00 price target on the stock. Wells Fargo & Company cut shares of SBA Communications from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $230.00 to $220.00 in a research report on Monday, July 15th. Deutsche Bank Aktiengesellschaft boosted their price target 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. Barclays reduced their price target on shares of SBA Communications from $240.00 to $236.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 30th. Finally, KeyCorp boosted their price target on shares of SBA Communications from $227.00 to $230.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $237.92.

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.