Motley Fool Wealth Management LLC Has $12.02 Million Position in SBA Communications Co. (NASDAQ:SBAC)

Motley Fool Wealth Management LLC lessened its stake in SBA Communications Co. (NASDAQ:SBAC) by 1.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 49,926 shares of the technology company’s stock after selling 588 shares during the period. Motley Fool Wealth Management LLC’s holdings in SBA Communications were worth $12,017,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cetera Investment Advisers increased its position in shares of SBA Communications by 228.1% during the first quarter. Cetera Investment Advisers now owns 10,394 shares of the technology company’s stock valued at $2,252,000 after purchasing an additional 7,226 shares during the period. Manning & Napier Advisors LLC bought a new position in SBA Communications in the second quarter worth $12,918,000. Public Sector Pension Investment Board increased its holdings in SBA Communications by 17.2% in the 2nd quarter. Public Sector Pension Investment Board now owns 14,912 shares of the technology company’s stock valued at $2,927,000 after buying an additional 2,186 shares during the period. Farther Finance Advisors LLC raised its stake in shares of SBA Communications by 32.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company’s stock valued at $52,000 after buying an additional 53 shares in the last quarter. Finally, Bank of Montreal Can lifted its holdings in shares of SBA Communications by 135.5% during the 3rd quarter. Bank of Montreal Can now owns 420,514 shares of the technology company’s stock worth $100,351,000 after acquiring an additional 241,916 shares during the period. 97.35% of the stock is currently owned by institutional investors.

SBA Communications Price Performance

SBAC opened at $223.09 on Wednesday. The stock has a market capitalization of $23.99 billion, a P/E ratio of 35.19, a price-to-earnings-growth ratio of 0.75 and a beta of 0.67. The company’s 50 day simple moving average is $232.05 and its 200-day simple moving average is $218.75. SBA Communications Co. has a one year low of $183.64 and a one year high of $258.76.

SBA Communications (NASDAQ:SBAC) last released its earnings results on Monday, October 28th. The technology company reported $2.40 EPS for the quarter, missing the consensus estimate of $3.17 by ($0.77). The firm had revenue of $667.60 million during the quarter, compared to analyst estimates of $669.29 million. SBA Communications had a net margin of 25.76% and a negative return on equity of 13.13%. The firm’s quarterly revenue was down 2.2% on a year-over-year basis. During the same period last year, the business posted $3.34 earnings per share. As a group, analysts anticipate that SBA Communications Co. will post 12.56 EPS for the current year.

SBA Communications Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 14th will be issued a $0.98 dividend. The ex-dividend date is Thursday, November 14th. This represents a $3.92 annualized dividend and a yield of 1.76%. SBA Communications’s dividend payout ratio is currently 61.83%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. KeyCorp increased their price target on shares of SBA Communications from $230.00 to $280.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. 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 report on Monday, September 23rd. BMO Capital Markets upped their price target on SBA Communications from $255.00 to $260.00 and gave the company an “outperform” rating in a research report on Tuesday, October 29th. Wells Fargo & Company increased their price objective on SBA Communications from $220.00 to $240.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. Finally, Morgan Stanley upped their target price on shares of SBA Communications from $232.00 to $252.00 and gave the stock an “overweight” rating in a report on Wednesday, September 18th. Three investment 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. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $257.23.

Insider Buying and Selling 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 shares were sold at an average price of $242.86, for a total value of $364,290.00. Following the sale, the executive vice president now directly owns 4,998 shares in the company, valued at $1,213,814.28. This trade represents a 23.08 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.30% of the company’s stock.

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.