SBA Communications Co. (NASDAQ:SBAC) Stock Holdings Boosted by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. lifted its position in shares of SBA Communications Co. (NASDAQ:SBAC) by 5.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,621 shares of the technology company’s stock after acquiring an additional 80 shares during the period. Brown Brothers Harriman & Co.’s holdings in SBA Communications were worth $390,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Diamond Hill Capital Management Inc. grew its position in SBA Communications by 13.4% in 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 buying an additional 233,179 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in SBA Communications by 5.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,269,786 shares of the technology company’s stock valued at $305,637,000 after buying an additional 62,555 shares in the last quarter. Victory Capital Management Inc. grew its position in SBA Communications by 2,821.5% in the 3rd quarter. Victory Capital Management Inc. now owns 1,216,094 shares of the technology company’s stock valued at $292,714,000 after buying an additional 1,174,469 shares in the last quarter. American Century Companies Inc. grew its position in SBA Communications by 15.5% in 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 buying an additional 159,433 shares in the last quarter. Finally, Thrivent Financial for Lutherans grew its position in SBA Communications by 9.0% in the 3rd quarter. Thrivent Financial for Lutherans now owns 874,945 shares of the technology company’s stock valued at $210,600,000 after buying an additional 72,255 shares in the last quarter. Institutional investors own 97.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Wells Fargo & Company increased their target price on shares of SBA Communications from $220.00 to $240.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. KeyCorp raised their price objective on shares of SBA Communications from $230.00 to $280.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. JPMorgan Chase & Co. raised their price objective on shares of SBA Communications from $228.00 to $250.00 and gave the company a “neutral” rating in a research report on Monday, September 23rd. The Goldman Sachs Group raised their price objective on shares of SBA Communications from $212.00 to $240.00 and gave the company a “neutral” rating in a research report on Thursday, September 26th. Finally, Barclays raised their price objective on shares of SBA Communications from $236.00 to $256.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Three analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $257.23.

SBA Communications Trading Up 0.8 %

SBAC stock opened at $228.51 on Thursday. SBA Communications Co. has a one year low of $183.64 and a one year high of $258.76. The firm has a market capitalization of $24.57 billion, a PE ratio of 36.04, a P/E/G ratio of 0.76 and a beta of 0.68. The firm has a 50-day moving average of $233.24 and a two-hundred day moving average of $217.93.

SBA Communications (NASDAQ:SBAC) last posted its quarterly earnings data on Monday, October 28th. The technology company reported $2.40 EPS for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.77). The firm had revenue of $667.60 million for the quarter, compared to analysts’ expectations of $669.29 million. SBA Communications had a net margin of 25.76% and a negative return on equity of 13.13%. SBA Communications’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same period in the prior year, the company posted $3.34 earnings per share. On average, equities research analysts anticipate that SBA Communications Co. will post 12.56 earnings per share for the current year.

SBA Communications Announces Dividend

The business 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 $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date of this dividend is Thursday, November 14th. SBA Communications’s dividend payout ratio (DPR) is 61.83%.

Insider Transactions at SBA Communications

In other news, EVP Donald Day sold 1,500 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $242.86, for a total value of $364,290.00. Following the completion of the sale, the executive vice president now directly owns 4,998 shares of the company’s stock, valued at $1,213,814.28. This represents a 23.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.30% of the stock is owned by insiders.

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.