Napa Wealth Management Acquires 251 Shares of SBA Communications Co. (NASDAQ:SBAC)

Napa Wealth Management increased its holdings in SBA Communications Co. (NASDAQ:SBAC) by 21.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,444 shares of the technology company’s stock after acquiring an additional 251 shares during the quarter. Napa Wealth Management’s holdings in SBA Communications were worth $348,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Diamond Hill Capital Management Inc. boosted its stake in shares of SBA Communications by 13.4% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 1,973,867 shares of the technology company’s stock valued at $387,470,000 after purchasing an additional 233,179 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in SBA Communications by 2,821.5% in the third quarter. Victory Capital Management Inc. now owns 1,216,094 shares of the technology company’s stock worth $292,714,000 after buying an additional 1,174,469 shares during the period. American Century Companies Inc. boosted its position in SBA Communications by 15.5% during the 2nd quarter. American Century Companies Inc. now owns 1,190,288 shares of the technology company’s stock valued at $233,654,000 after acquiring an additional 159,433 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of SBA Communications by 3.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 986,487 shares of the technology company’s stock worth $213,773,000 after acquiring an additional 33,507 shares during the period. Finally, Thrivent Financial for Lutherans grew its holdings in shares of SBA Communications by 9.0% during the 3rd quarter. Thrivent Financial for Lutherans now owns 874,945 shares of the technology company’s stock worth $210,600,000 after acquiring an additional 72,255 shares during the period. Institutional investors own 97.35% of the company’s stock.

Insider Buying and Selling

In other news, Director George R. Krouse, Jr. sold 325 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $219.58, for a total value of $71,363.50. Following the transaction, the director now owns 8,084 shares of the company’s stock, valued at approximately $1,775,084.72. The trade was a 3.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Donald Day sold 1,500 shares of the company’s stock in a transaction 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 position. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have commented on the company. The Goldman Sachs Group raised their price objective on SBA Communications from $212.00 to $240.00 and gave the company a “neutral” rating in a research report on Thursday, September 26th. Royal Bank of Canada boosted their price objective on shares of SBA Communications from $235.00 to $245.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. StockNews.com upgraded shares of SBA Communications from a “hold” rating to a “buy” rating in a report on Thursday, November 7th. Morgan Stanley boosted their price target on SBA Communications from $232.00 to $252.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 18th. Finally, 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 research note on Monday, September 23rd. Three analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, SBA Communications currently has an average rating of “Moderate Buy” and a consensus target price of $257.23.

SBA Communications Trading Up 1.2 %

SBA Communications stock opened at $221.09 on Monday. SBA Communications Co. has a 12-month low of $183.64 and a 12-month high of $258.76. The firm has a market capitalization of $23.77 billion, a price-to-earnings ratio of 34.87, a P/E/G ratio of 0.75 and a beta of 0.68. The firm has a 50 day moving average of $236.35 and a 200 day moving average of $216.56.

SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings data 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 for the quarter, compared to the consensus estimate 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 revenue for the quarter was down 2.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.34 earnings per share. On average, analysts predict that SBA Communications Co. will post 12.56 EPS for the current year.

SBA Communications Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 14th will be paid a $0.98 dividend. 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 (DPR) 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.