Envestnet Portfolio Solutions Inc. Purchases 192 Shares of SBA Communications Corporation $SBAC

Envestnet Portfolio Solutions Inc. boosted its position in shares of SBA Communications Corporation (NASDAQ:SBAC) by 6.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,156 shares of the technology company’s stock after purchasing an additional 192 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in SBA Communications were worth $741,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in SBA Communications by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 17,666,669 shares of the technology company’s stock valued at $3,886,844,000 after purchasing an additional 268,018 shares during the last quarter. Dodge & Cox grew its holdings in SBA Communications by 15.5% during the 1st quarter. Dodge & Cox now owns 8,485,264 shares of the technology company’s stock valued at $1,866,843,000 after purchasing an additional 1,139,009 shares during the last quarter. JPMorgan Chase & Co. boosted its position in SBA Communications by 40.3% in the 1st quarter. JPMorgan Chase & Co. now owns 5,973,657 shares of the technology company’s stock valued at $1,314,265,000 after buying an additional 1,715,541 shares during the period. Diamond Hill Capital Management Inc. boosted its position in SBA Communications by 7.3% in the 1st quarter. Diamond Hill Capital Management Inc. now owns 1,996,773 shares of the technology company’s stock valued at $439,310,000 after buying an additional 135,682 shares during the period. Finally, Victory Capital Management Inc. boosted its position in SBA Communications by 11.5% in the 1st quarter. Victory Capital Management Inc. now owns 1,986,133 shares of the technology company’s stock valued at $436,969,000 after buying an additional 204,902 shares during the period. 97.35% of the stock is currently owned by institutional investors.

SBA Communications Stock Performance

Shares of SBAC opened at $197.76 on Tuesday. The company has a 50 day moving average price of $201.18 and a 200-day moving average price of $219.50. SBA Communications Corporation has a fifty-two week low of $185.45 and a fifty-two week high of $248.62. The stock has a market capitalization of $21.24 billion, a PE ratio of 25.13, a PEG ratio of 2.06 and a beta of 0.82.

SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings results on Monday, August 4th. The technology company reported $3.17 earnings per share for the quarter, topping the consensus estimate of $3.10 by $0.07. SBA Communications had a net margin of 31.19% and a negative return on equity of 16.83%. The firm had revenue of $698.98 million during the quarter, compared to analysts’ expectations of $670.73 million. During the same quarter in the prior year, the company earned $3.29 EPS. The company’s revenue was up 5.8% compared to the same quarter last year. SBA Communications has set its FY 2025 guidance at EPS. Equities research analysts forecast that SBA Communications Corporation will post 12.57 EPS for the current year.

SBA Communications Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, August 21st were paid a dividend of $1.11 per share. This represents a $4.44 annualized dividend and a dividend yield of 2.2%. The ex-dividend date was Thursday, August 21st. SBA Communications’s payout ratio is 56.42%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Barclays lowered their price objective on shares of SBA Communications from $257.00 to $226.00 and set an “overweight” rating for the company in a research report on Monday, September 15th. Raymond James Financial set a $265.00 price objective on shares of SBA Communications and gave the company a “strong-buy” rating in a research report on Tuesday, August 5th. The Goldman Sachs Group lowered their price objective on shares of SBA Communications from $250.00 to $220.00 and set a “neutral” rating for the company in a research report on Wednesday, October 1st. UBS Group lowered their price objective on shares of SBA Communications from $285.00 to $275.00 and set a “buy” rating for the company in a research report on Tuesday, October 14th. Finally, JMP Securities set a $280.00 price objective on shares of SBA Communications and gave the company a “market outperform” rating in a research report on Tuesday, August 5th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, SBA Communications has a consensus rating of “Moderate Buy” and an average price target of $242.40.

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.