Sustainable Insight Capital Management LLC Sells 186 Shares of SBA Communications Co. (NASDAQ:SBAC)

Sustainable Insight Capital Management LLC reduced its stake in SBA Communications Co. (NASDAQ:SBAC) by 7.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,156 shares of the technology company’s stock after selling 186 shares during the period. Sustainable Insight Capital Management LLC’s holdings in SBA Communications were worth $439,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. State Street Corp raised its holdings in shares of SBA Communications by 1.8% in the 3rd quarter. State Street Corp now owns 4,643,527 shares of the technology company’s stock valued at $1,117,697,000 after purchasing an additional 81,566 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of SBA Communications by 16.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,254,460 shares of the technology company’s stock valued at $1,024,049,000 after acquiring an additional 605,872 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of 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 acquiring an additional 62,555 shares during the period. Victory Capital Management Inc. raised its position in shares of 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 worth $292,714,000 after acquiring an additional 1,174,469 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of SBA Communications by 377.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 886,384 shares of the technology company’s stock worth $213,353,000 after purchasing an additional 700,791 shares during the last quarter. 97.35% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at SBA Communications

In related news, EVP Mark R. Ciarfella sold 3,545 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $224.33, for a total value of $795,249.85. Following the transaction, the executive vice president now directly owns 33,588 shares in the company, valued at approximately $7,534,796.04. This represents a 9.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Donald Day sold 2,321 shares of SBA Communications stock in a transaction on Friday, December 20th. The shares were sold at an average price of $203.43, for a total value of $472,161.03. Following the completion of the sale, the executive vice president now owns 4,998 shares in the company, valued at $1,016,743.14. This represents a 31.71 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by company insiders.

SBA Communications Trading Up 0.1 %

SBAC opened at $198.69 on Friday. The firm has a market capitalization of $21.36 billion, a PE ratio of 31.34, a PEG ratio of 0.70 and a beta of 0.69. SBA Communications Co. has a twelve month low of $183.64 and a twelve month high of $252.64. The firm’s 50-day moving average price is $210.26 and its 200 day moving average price is $221.61.

SBA Communications (NASDAQ:SBAC) last posted its quarterly 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). The company had revenue of $667.60 million during 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 revenue for the quarter was down 2.2% on a year-over-year basis. During the same quarter last year, the company earned $3.34 earnings per share. As a group, analysts predict that SBA Communications Co. will post 12.57 earnings per share for the current fiscal year.

SBA Communications Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 14th were given a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a yield of 1.97%. The ex-dividend date of this dividend was Thursday, November 14th. SBA Communications’s payout ratio is currently 61.83%.

Analyst Ratings Changes

SBAC has been the topic of a number of recent analyst reports. StockNews.com upgraded shares of SBA Communications from a “hold” rating to a “buy” rating in a report on Thursday. The Goldman Sachs Group boosted their target price on SBA Communications from $212.00 to $240.00 and gave the stock a “neutral” rating in a research note on Thursday, September 26th. Wells Fargo & Company lowered their target price on shares of SBA Communications from $230.00 to $210.00 and set an “equal weight” rating for the company in a research note on Thursday. TD Cowen boosted their price target on SBA Communications from $251.00 to $261.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. Finally, Raymond James upped their price objective on shares of SBA Communications from $285.00 to $300.00 and gave the company a “strong-buy” rating in a report on Tuesday, October 29th. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $252.46.

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.