Savant Capital LLC Purchases New Shares in SBA Communications Co. (NASDAQ:SBAC)

Savant Capital LLC acquired a new position in shares of SBA Communications Co. (NASDAQ:SBAC) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 2,349 shares of the technology company’s stock, valued at approximately $596,000.

Several other institutional investors have also recently made changes to their positions in SBAC. Duff & Phelps Investment Management Co. lifted its stake in SBA Communications by 11.7% in the fourth quarter. Duff & Phelps Investment Management Co. now owns 221,087 shares of the technology company’s stock valued at $56,088,000 after purchasing an additional 23,135 shares during the last quarter. Naviter Wealth LLC boosted its holdings in shares of SBA Communications by 52.9% in the fourth quarter. Naviter Wealth LLC now owns 8,930 shares of the technology company’s stock worth $2,265,000 after acquiring an additional 3,088 shares during the period. Gilbert & Cook Inc. boosted its stake in SBA Communications by 8.3% in the 4th quarter. Gilbert & Cook Inc. now owns 2,386 shares of the technology company’s stock worth $605,000 after purchasing an additional 183 shares during the period. Legacy Capital Wealth Partners LLC purchased a new position in SBA Communications during the fourth quarter valued at approximately $408,000. Finally, Russell Investments Group Ltd. raised its position in shares of SBA Communications by 8.8% in the fourth quarter. Russell Investments Group Ltd. now owns 484,332 shares of the technology company’s stock worth $122,883,000 after buying an additional 39,307 shares in the last quarter. Institutional investors own 97.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SBAC. Wells Fargo & Company decreased their price target on shares of SBA Communications from $260.00 to $230.00 and set an “overweight” rating on the stock in a report on Tuesday, April 30th. KeyCorp lowered their price objective on shares of SBA Communications from $276.00 to $227.00 and set an “overweight” rating for the company in a report on Tuesday, April 30th. Citigroup decreased their target price on shares of SBA Communications from $290.00 to $260.00 and set a “buy” rating on the stock in a research report on Tuesday, April 30th. BMO Capital Markets reduced their price objective on SBA Communications from $285.00 to $265.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 27th. Finally, Bank of America upgraded SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 target price for the company in a report on Thursday, March 7th. One investment analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, SBA Communications presently has an average rating of “Buy” and a consensus target price of $258.23.

Insider Buying and Selling

In other SBA Communications news, Director Mary S. Chan sold 1,977 shares of SBA Communications stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $217.99, for a total transaction of $430,966.23. Following the completion of the transaction, the director now owns 4,622 shares in the company, valued at $1,007,549.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.30% of the stock is currently owned by company insiders.

SBA Communications Stock Down 0.4 %

Shares of SBAC stock opened at $193.09 on Friday. The business’s fifty day moving average is $208.38 and its 200 day moving average is $222.25. The stock has a market cap of $20.87 billion, a price-to-earnings ratio of 37.86, a PEG ratio of 1.19 and a beta of 0.59. SBA Communications Co. has a twelve month low of $183.64 and a twelve month high of $258.76.

SBA Communications (NASDAQ:SBAC) last released its earnings results on Monday, April 29th. The technology company reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.21. SBA Communications had a net margin of 20.61% and a negative return on equity of 10.75%. The firm had revenue of $657.86 million for the quarter, compared to the consensus estimate of $671.08 million. During the same period in the prior year, the firm earned $3.13 EPS. The company’s revenue was down 2.6% compared to the same quarter last year. Equities research analysts expect that SBA Communications Co. will post 12.53 earnings per share for the current fiscal year.

SBA Communications Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 19th. Stockholders of record on Thursday, May 23rd will be given a $0.98 dividend. The ex-dividend date of this dividend is Wednesday, May 22nd. This represents a $3.92 dividend on an annualized basis and a dividend yield of 2.03%. SBA Communications’s dividend payout ratio is currently 76.86%.

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.