Ellevest Inc. raised its stake in shares of SBA Communications Co. (NASDAQ:SBAC – Get Rating) by 73.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 189 shares of the technology company’s stock after purchasing an additional 80 shares during the quarter. Ellevest Inc.’s holdings in SBA Communications were worth $65,000 as of its most recent filing with the SEC.
Several other large investors also recently bought and sold shares of the company. PFG Advisors increased its holdings in shares of SBA Communications by 1.2% during the 1st quarter. PFG Advisors now owns 2,621 shares of the technology company’s stock worth $902,000 after purchasing an additional 30 shares during the period. Kentucky Retirement Systems Insurance Trust Fund boosted its position in shares of SBA Communications by 1.2% during the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 2,870 shares of the technology company’s stock valued at $1,116,000 after acquiring an additional 34 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in shares of SBA Communications by 3.2% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 1,626 shares of the technology company’s stock valued at $633,000 after acquiring an additional 50 shares in the last quarter. Gilbert & Cook Inc. boosted its position in shares of SBA Communications by 1.9% during the 4th quarter. Gilbert & Cook Inc. now owns 2,753 shares of the technology company’s stock valued at $1,071,000 after acquiring an additional 52 shares in the last quarter. Finally, Clarius Group LLC boosted its position in shares of SBA Communications by 5.7% during the 4th quarter. Clarius Group LLC now owns 959 shares of the technology company’s stock valued at $373,000 after acquiring an additional 52 shares in the last quarter. Institutional investors own 95.41% of the company’s stock.
Shares of NASDAQ SBAC opened at $330.46 on Friday. The company has a market cap of $35.63 billion, a PE ratio of 83.45 and a beta of 0.41. SBA Communications Co. has a 1-year low of $286.41 and a 1-year high of $391.15. The company has a 50-day moving average of $328.69 and a two-hundred day moving average of $334.48.
SBA Communications (NASDAQ:SBAC – Get Rating) last announced its quarterly earnings data on Monday, April 25th. The technology company reported $1.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.72. The firm had revenue of $619.77 million for the quarter, compared to the consensus estimate of $603.91 million. SBA Communications had a net margin of 18.40% and a negative return on equity of 8.54%. The business’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same period in the previous year, the company posted $2.58 earnings per share. As a group, research analysts expect that SBA Communications Co. will post 11.09 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, June 14th. Stockholders of record on Thursday, May 19th were paid a $0.71 dividend. The ex-dividend date of this dividend was Wednesday, May 18th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.86%. SBA Communications’s payout ratio is currently 71.72%.
In other news, EVP Mark R. Ciarfella sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 7th. The shares were sold at an average price of $338.05, for a total value of $338,050.00. Following the sale, the executive vice president now directly owns 23,884 shares in the company, valued at approximately $8,073,986.20. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jeffrey Stoops sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 24th. The shares were sold at an average price of $344.07, for a total transaction of $10,322,100.00. Following the completion of the sale, the chief executive officer now owns 83,668 shares in the company, valued at $28,787,648.76. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,889 shares of company stock worth $11,316,993. 1.80% of the stock is currently owned by corporate insiders.
Several brokerages have recently weighed in on SBAC. Wells Fargo & Company lifted their target price on shares of SBA Communications from $375.00 to $390.00 and gave the company an “overweight” rating in a research report on Monday, April 18th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of SBA Communications from $365.00 to $375.00 in a research report on Wednesday, April 27th. Jefferies Financial Group decreased their target price on shares of SBA Communications from $383.00 to $347.00 and set a “hold” rating on the stock in a research report on Thursday. Barclays raised their target price on shares of SBA Communications from $378.00 to $385.00 and gave the company an “overweight” rating in a research report on Tuesday, April 26th. Finally, KeyCorp reduced their price target on shares of SBA Communications from $393.00 to $367.00 and set an “overweight” rating on the stock in a research report on Friday. Three 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 company. According to data from MarketBeat.com, SBA Communications currently has a consensus rating of “Moderate Buy” and an average target price of $387.40.
SBA Communications Profile: (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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