Gilbert & Cook Inc. Sells 128 Shares of SBA Communications Co. (NASDAQ:SBAC)

Gilbert & Cook Inc. decreased its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 6.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,871 shares of the technology company’s stock after selling 128 shares during the period. Gilbert & Cook Inc.’s holdings in SBA Communications were worth $450,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in SBA Communications by 0.5% during the first quarter. Vanguard Group Inc. now owns 17,368,209 shares of the technology company’s stock worth $3,763,691,000 after purchasing an additional 88,339 shares during the last quarter. Diamond Hill Capital Management Inc. boosted its holdings in SBA Communications by 13.4% during the second quarter. Diamond Hill Capital Management Inc. now owns 1,973,867 shares of the technology company’s stock worth $387,470,000 after purchasing an additional 233,179 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in SBA Communications by 2,821.5% during the third quarter. Victory Capital Management Inc. now owns 1,216,094 shares of the technology company’s stock worth $292,714,000 after purchasing an additional 1,174,469 shares during the last quarter. American Century Companies Inc. boosted its holdings in SBA Communications by 15.5% during the second quarter. American Century Companies Inc. now owns 1,190,288 shares of the technology company’s stock worth $233,654,000 after purchasing an additional 159,433 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in SBA Communications by 3.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 986,487 shares of the technology company’s stock worth $213,773,000 after purchasing an additional 33,507 shares during the last quarter. Institutional investors own 97.35% of the company’s stock.

Insider Buying and Selling

In related news, EVP Donald Day sold 1,500 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $242.86, for a total transaction of $364,290.00. Following the transaction, the executive vice president now directly owns 4,998 shares of the company’s stock, valued at approximately $1,213,814.28. This trade represents a 23.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director George R. Krouse, Jr. sold 325 shares of the firm’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 directly owns 8,084 shares in the company, valued at approximately $1,775,084.72. This represents a 3.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages recently commented on SBAC. The Goldman Sachs Group increased their target price on shares of SBA Communications from $212.00 to $240.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. Raymond James increased their target price on shares of SBA Communications from $285.00 to $300.00 and gave the stock a “strong-buy” rating in a report on Tuesday, October 29th. BMO Capital Markets increased their target price on shares of SBA Communications from $255.00 to $260.00 and gave the stock an “outperform” rating in a report on Tuesday, October 29th. KeyCorp increased their price target on shares of SBA Communications from $230.00 to $280.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Finally, Royal Bank of Canada increased their price target on shares of SBA Communications from $235.00 to $245.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Three investment 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $257.23.

SBA Communications Stock Performance

NASDAQ SBAC opened at $221.09 on Friday. The firm has a 50-day moving average of $236.35 and a 200-day moving average of $216.37. The stock has a market cap of $23.77 billion, a PE ratio of 34.87, a P/E/G ratio of 0.75 and a beta of 0.68. SBA Communications Co. has a 52-week low of $183.64 and a 52-week high of $258.76.

SBA Communications (NASDAQ:SBAC) last posted its earnings results 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 analyst estimates of $669.29 million. SBA Communications had a negative return on equity of 13.13% and a net margin of 25.76%. The business’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.34 EPS. As a group, 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. Stockholders 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 dividend yield of 1.77%. The ex-dividend date is Thursday, November 14th. SBA Communications’s dividend payout ratio is presently 61.83%.

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.