National Pension Service Sells 11,799 Shares of SBA Communications Co. (NASDAQ:SBAC)

National Pension Service lessened its holdings in SBA Communications Co. (NASDAQ:SBACGet Rating) by 6.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 164,701 shares of the technology company’s stock after selling 11,799 shares during the quarter. National Pension Service owned 0.15% of SBA Communications worth $56,674,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. PFG Advisors raised its position in SBA Communications by 1.2% during the first quarter. PFG Advisors now owns 2,621 shares of the technology company’s stock worth $902,000 after acquiring an additional 30 shares in the last quarter. Signaturefd LLC raised its position in SBA Communications by 6.0% during the first quarter. Signaturefd LLC now owns 546 shares of the technology company’s stock worth $188,000 after acquiring an additional 31 shares in the last quarter. Hotaling Investment Management LLC raised its position in SBA Communications by 4.9% during the first quarter. Hotaling Investment Management LLC now owns 708 shares of the technology company’s stock worth $244,000 after acquiring an additional 33 shares in the last quarter. Marks Group Wealth Management Inc raised its position in SBA Communications by 2.9% during the first quarter. Marks Group Wealth Management Inc now owns 1,176 shares of the technology company’s stock worth $405,000 after acquiring an additional 33 shares in the last quarter. Finally, Clearstead Advisors LLC raised its position in SBA Communications by 4.3% during the first quarter. Clearstead Advisors LLC now owns 818 shares of the technology company’s stock worth $281,000 after acquiring an additional 34 shares in the last quarter. Institutional investors own 94.45% of the company’s stock.

Insider Buying and Selling

In related news, EVP Mark R. Ciarfella sold 5,760 shares of SBA Communications stock in a transaction on Friday, August 5th. The shares were sold at an average price of $343.94, for a total transaction of $1,981,094.40. Following the completion of the transaction, the executive vice president now owns 23,884 shares of the company’s stock, valued at $8,214,662.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other SBA Communications news, EVP Mark R. Ciarfella sold 5,760 shares of SBA Communications stock in a transaction on Friday, August 5th. The shares were sold at an average price of $343.94, for a total value of $1,981,094.40. Following the completion of the sale, the executive vice president now directly owns 23,884 shares of the company’s stock, valued at $8,214,662.96. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Jason V. Silberstein sold 16,464 shares of SBA Communications stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $350.38, for a total transaction of $5,768,656.32. Following the completion of the sale, the executive vice president now directly owns 21,785 shares of the company’s stock, valued at $7,633,028.30. The disclosure for this sale can be found here. Insiders sold 54,152 shares of company stock valued at $18,852,602 over the last quarter. Insiders own 1.80% of the company’s stock.

SBA Communications Stock Performance

SBAC stock opened at $329.21 on Friday. The company has a fifty day moving average price of $331.35 and a 200-day moving average price of $332.17. The company has a market capitalization of $35.50 billion, a P/E ratio of 101.92 and a beta of 0.44. SBA Communications Co. has a 52-week low of $286.41 and a 52-week high of $391.15.

SBA Communications (NASDAQ:SBACGet Rating) last released its quarterly earnings results on Monday, August 1st. The technology company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.26). The business had revenue of $652.01 million for the quarter, compared to the consensus estimate of $626.30 million. SBA Communications had a net margin of 14.45% and a negative return on equity of 6.73%. SBA Communications’s revenue was up 13.3% on a year-over-year basis. During the same period in the previous year, the business posted $2.64 EPS. As a group, sell-side analysts forecast that SBA Communications Co. will post 11.2 earnings per share for the current fiscal year.

SBA Communications Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 20th. Investors of record on Thursday, August 25th will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date of this dividend is Wednesday, August 24th. SBA Communications’s dividend payout ratio is presently 87.93%.

Analyst Upgrades and Downgrades

Several research firms have commented on SBAC. The Goldman Sachs Group decreased their price objective on shares of SBA Communications from $424.00 to $381.00 and set a “buy” rating on the stock in a report on Tuesday, July 12th. KeyCorp upped their price objective on shares of SBA Communications from $367.00 to $389.00 and gave the company an “overweight” rating in a report on Wednesday, August 3rd. UBS Group upped their price objective on shares of SBA Communications from $400.00 to $410.00 and gave the company a “buy” rating in a report on Tuesday, August 2nd. Barclays decreased their price target on shares of SBA Communications from $385.00 to $380.00 and set an “overweight” rating on the stock in a research note on Friday, August 26th. Finally, StockNews.com raised SBA Communications from a “hold” rating to a “buy” rating in a report on Sunday, August 28th. Two research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, SBA Communications currently has a consensus rating of “Moderate Buy” and a consensus target price of $384.33.

About SBA Communications

(Get Rating)

SBA Communications Corporation is a first choice provider and leading owner and operator of wireless communications infrastructure in North, Central, and South America and South Africa. By Building Better Wireless, SBA generates revenue from two primary businesses – site leasing and site development services.

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Institutional Ownership by Quarter for SBA Communications (NASDAQ:SBAC)

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