B. Metzler seel. Sohn & Co. Holding AG Takes $1.42 Million Position in SBA Communications Co. (NASDAQ:SBAC)

B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of SBA Communications Co. (NASDAQ:SBAC) in the third quarter, HoldingsChannel reports. The institutional investor purchased 5,891 shares of the technology company’s stock, valued at approximately $1,418,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of SBAC. Napa Wealth Management raised its stake in shares of SBA Communications by 21.0% during the third quarter. Napa Wealth Management now owns 1,444 shares of the technology company’s stock valued at $348,000 after purchasing an additional 251 shares during the period. Thrivent Financial for Lutherans grew its stake in shares of SBA Communications by 9.0% during the third quarter. Thrivent Financial for Lutherans now owns 874,945 shares of the technology company’s stock valued at $210,600,000 after acquiring an additional 72,255 shares in the last quarter. Atlanta Consulting Group Advisors LLC acquired a new stake in SBA Communications during the 3rd quarter valued at approximately $204,000. Natixis Advisors LLC increased its holdings in SBA Communications by 46.4% during the 3rd quarter. Natixis Advisors LLC now owns 74,835 shares of the technology company’s stock worth $18,013,000 after purchasing an additional 23,715 shares during the last quarter. Finally, Mizuho Securities USA LLC raised its position in shares of SBA Communications by 1,011.1% in the 3rd quarter. Mizuho Securities USA LLC now owns 92,079 shares of the technology company’s stock valued at $22,163,000 after purchasing an additional 83,792 shares in the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on SBAC shares. StockNews.com upgraded shares of SBA Communications from a “hold” rating to a “buy” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. raised their price objective on SBA Communications from $228.00 to $250.00 and gave the stock a “neutral” rating in a research note on Monday, September 23rd. TD Cowen lifted their price target on shares of SBA Communications from $251.00 to $261.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. Deutsche Bank Aktiengesellschaft lifted their target price on SBA Communications from $230.00 to $240.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Finally, Royal Bank of Canada raised their price target on SBA Communications from $235.00 to $245.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $257.23.

SBA Communications Trading Up 0.6 %

Shares of NASDAQ:SBAC opened at $220.66 on Friday. The company has a 50 day moving average of $234.22 and a 200-day moving average of $217.17. The firm has a market cap of $23.73 billion, a P/E ratio of 34.80, a P/E/G ratio of 0.74 and a beta of 0.68. 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, October 28th. The technology company reported $2.40 earnings per share 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 firm had revenue of $667.60 million during the quarter, compared to analyst estimates of $669.29 million. During the same quarter last year, the company earned $3.34 earnings per share. The business’s revenue for the quarter was down 2.2% on a year-over-year basis. Equities research analysts forecast that SBA Communications Co. will post 12.56 EPS for the current year.

SBA Communications Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 14th will be issued a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date of this dividend is Thursday, November 14th. SBA Communications’s payout ratio is currently 61.83%.

Insiders Place Their Bets

In related news, EVP Donald Day sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $242.86, for a total transaction of $364,290.00. Following the completion of the sale, the executive vice president now directly owns 4,998 shares in the company, valued at approximately $1,213,814.28. This trade represents a 23.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.30% of the stock is owned by company insiders.

SBA Communications Company 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.