Sustainable Insight Capital Management LLC Purchases 1,042 Shares of SBA Communications Co. (NASDAQ:SBAC)

Sustainable Insight Capital Management LLC boosted its position in shares of SBA Communications Co. (NASDAQ:SBAC) by 80.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,342 shares of the technology company’s stock after purchasing an additional 1,042 shares during the period. Sustainable Insight Capital Management LLC’s holdings in SBA Communications were worth $564,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ridgewood Investments LLC bought a new position in shares of SBA Communications during the second quarter valued at approximately $32,000. Capital Performance Advisors LLP bought a new position in SBA Communications in the 3rd quarter valued at $35,000. Family Firm Inc. purchased a new stake in SBA Communications in the second quarter worth $36,000. Global X Japan Co. Ltd. purchased a new stake in SBA Communications in the second quarter worth $49,000. Finally, Friedenthal Financial bought a new stake in shares of SBA Communications during the third quarter worth $50,000. 97.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft raised their price target on shares of SBA Communications from $230.00 to $240.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. BMO Capital Markets raised their target price on shares of SBA Communications from $255.00 to $260.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 29th. Barclays boosted their price target on SBA Communications from $236.00 to $256.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. JPMorgan Chase & Co. raised their price objective on SBA Communications from $228.00 to $250.00 and gave the stock a “neutral” rating in a report on Monday, September 23rd. Finally, KeyCorp upped their target price on SBA Communications from $230.00 to $280.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Three research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $257.23.

SBA Communications Price Performance

Shares of SBAC stock opened at $223.92 on Friday. The stock’s 50-day moving average is $237.64 and its 200 day moving average is $215.43. SBA Communications Co. has a 1-year low of $183.64 and a 1-year high of $258.76. The company has a market cap of $24.08 billion, a P/E ratio of 35.32, a PEG ratio of 0.74 and a beta of 0.68.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings results on Monday, October 28th. The technology company reported $2.40 earnings per share for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.77). The firm had revenue of $667.60 million during 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 quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.34 earnings per share. On average, analysts anticipate that SBA Communications Co. will post 12.56 EPS for the current year.

SBA Communications Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 14th will be given a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date is Thursday, November 14th. SBA Communications’s payout ratio is presently 61.83%.

Insider Activity

In related news, Director George R. Krouse, Jr. sold 325 shares of the business’s stock in a transaction on 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 $1,775,084.72. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director George R. Krouse, Jr. sold 325 shares of SBA Communications stock in a transaction that occurred 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 completion of the sale, the director now directly owns 8,084 shares in the company, valued at $1,775,084.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Donald Day sold 1,500 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 4,998 shares in the company, valued at approximately $1,213,814.28. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company 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.