SBA Communications Co. (NASDAQ:SBAC) Stock Position Increased by Venturi Wealth Management LLC

Venturi Wealth Management LLC boosted its position in shares of SBA Communications Co. (NASDAQ:SBAC) by 23.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 339 shares of the technology company’s stock after buying an additional 65 shares during the quarter. Venturi Wealth Management LLC’s holdings in SBA Communications were worth $82,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of SBA Communications by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 17,368,209 shares of the technology company’s stock worth $3,763,691,000 after purchasing an additional 88,339 shares during the last quarter. Diamond Hill Capital Management Inc. grew its position in SBA Communications by 13.4% in the second quarter. Diamond Hill Capital Management Inc. now owns 1,973,867 shares of the technology company’s stock worth $387,470,000 after buying an additional 233,179 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of SBA Communications by 15.5% in the second quarter. American Century Companies Inc. now owns 1,190,288 shares of the technology company’s stock valued at $233,654,000 after buying an additional 159,433 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position 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 valued at $213,773,000 after acquiring an additional 33,507 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. boosted its stake in shares of SBA Communications by 34.7% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 792,147 shares of the technology company’s stock worth $155,498,000 after acquiring an additional 203,938 shares in the last quarter. 97.35% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at SBA Communications

In other SBA Communications news, Director George R. Krouse, Jr. sold 325 shares of the firm’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 sale, the director now directly owns 8,084 shares in the company, valued at $1,775,084.72. This trade represents a 3.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Donald Day sold 1,500 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $1,213,814.28. The trade was 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 corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SBAC. BMO Capital Markets boosted their target price on SBA Communications from $255.00 to $260.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 29th. Royal Bank of Canada upped their price objective on shares of SBA Communications from $235.00 to $245.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Wells Fargo & Company lifted their target price on shares of SBA Communications from $220.00 to $240.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. StockNews.com upgraded shares of SBA Communications from a “hold” rating to a “buy” rating in a research report on Thursday, November 7th. Finally, The Goldman Sachs Group boosted their target price on shares of SBA Communications from $212.00 to $240.00 and gave the company a “neutral” rating in a research note on Thursday, September 26th. Three investment 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $257.23.

SBA Communications Price Performance

Shares of NASDAQ:SBAC opened at $218.47 on Friday. The stock has a market capitalization of $23.49 billion, a P/E ratio of 34.46, a P/E/G ratio of 0.74 and a beta of 0.68. The business has a 50-day moving average of $237.00 and a two-hundred day moving average of $216.01. SBA Communications Co. has a fifty-two week low of $183.64 and a fifty-two week high of $258.76.

SBA Communications (NASDAQ:SBAC) last announced its earnings results on Monday, October 28th. The technology company reported $2.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.77). SBA Communications had a negative return on equity of 13.13% and a net margin of 25.76%. The company had revenue of $667.60 million for the quarter, compared to the consensus estimate of $669.29 million. During the same period in the previous year, the company earned $3.34 EPS. The firm’s revenue for the quarter was down 2.2% compared to the same quarter last year. As a group, research analysts expect that SBA Communications Co. will post 12.56 EPS for the current fiscal 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 given a $0.98 dividend. The ex-dividend date is Thursday, November 14th. This represents a $3.92 annualized dividend and a dividend yield of 1.79%. SBA Communications’s dividend payout ratio is 61.83%.

About SBA Communications

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.