64,400 Shares in American Tower Corporation $AMT Purchased by Dudley & Shanley Inc.

Dudley & Shanley Inc. acquired a new stake in American Tower Corporation (NYSE:AMT) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 64,400 shares of the real estate investment trust’s stock, valued at approximately $10,542,000. American Tower comprises about 1.7% of Dudley & Shanley Inc.’s portfolio, making the stock its 24th largest position.

Several other hedge funds also recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new stake in shares of American Tower in the second quarter valued at $7,490,943,000. J. Stern & Co. LLP increased its stake in American Tower by 28,121.1% during the 4th quarter. J. Stern & Co. LLP now owns 37,686,978 shares of the real estate investment trust’s stock worth $6,616,703,000 after buying an additional 37,553,436 shares during the period. Deutsche Bank AG acquired a new stake in American Tower during the 2nd quarter worth approximately $1,096,186,000. Bank of America Corp DE purchased a new position in American Tower in the 2nd quarter valued at approximately $638,829,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of American Tower in the second quarter worth $500,016,000. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

American Tower Stock Up 1.4%

American Tower stock traded up $2.25 during midday trading on Tuesday, reaching $164.51. The company’s stock had a trading volume of 638,037 shares, compared to its average volume of 3,036,491. The company has a market cap of $76.66 billion, a P/E ratio of 22.63, a P/E/G ratio of 2.60 and a beta of 0.88. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 3.12. The business has a 50-day simple moving average of $173.02 and a 200-day simple moving average of $175.22. American Tower Corporation has a fifty-two week low of $160.06 and a fifty-two week high of $196.08.

American Tower (NYSE:AMT) last released its quarterly earnings data on Tuesday, July 28th. The real estate investment trust reported $2.71 EPS for the quarter, beating analysts’ consensus estimates of $1.57 by $1.14. American Tower had a return on equity of 32.76% and a net margin of 31.08%.The business had revenue of $2.75 billion for the quarter, compared to the consensus estimate of $2.70 billion. During the same quarter in the prior year, the business posted $2.60 EPS. The business’s revenue for the quarter was up 4.6% on a year-over-year basis. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. On average, research analysts expect that American Tower Corporation will post 10.8 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 20th. Shareholders of record on Wednesday, September 30th will be paid a $1.79 dividend. This represents a $7.16 annualized dividend and a yield of 4.4%. The ex-dividend date is Wednesday, September 30th. American Tower’s dividend payout ratio is currently 98.49%.

Insiders Place Their Bets

In other news, Director Rajesh Kalathur acquired 2,829 shares of the company’s stock in a transaction on Friday, August 21st. The shares were bought at an average price of $177.00 per share, with a total value of $500,733.00. Following the completion of the acquisition, the director owned 7,765 shares in the company, valued at $1,374,405. This trade represents a 57.31% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Robert Joseph Meyer sold 5,000 shares of the business’s stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $178.89, for a total value of $894,450.00. Following the completion of the sale, the chief financial officer directly owned 21,428 shares of the company’s stock, valued at $3,833,254.92. The trade was a 18.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 6,791 shares of company stock valued at $1,204,091. 0.08% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on AMT. The Goldman Sachs Group set a $210.00 price objective on American Tower in a research note on Tuesday, July 28th. TD Cowen upped their price target on American Tower from $225.00 to $227.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. Barclays increased their price target on American Tower from $198.00 to $199.00 and gave the company an “overweight” rating in a research report on Wednesday, September 30th. Weiss Ratings raised American Tower from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, July 14th. Finally, Jefferies Financial Group cut their target price on shares of American Tower from $210.00 to $201.00 and set a “buy” rating on the stock in a research note on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $215.48.

American Tower Profile

American Tower Corporation (NYSE: AMT) is a global real estate investment trust that owns, operates and develops communications infrastructure. Its portfolio includes wireless and broadcast towers, rooftop sites, distributed antenna systems and other facilities that support wireless communications, television and radio broadcasting, government communications and other connectivity services.

The company leases space on its communications sites to wireless carriers, broadcasters, government agencies and other customers.