National Bank of Canada FI Has $10.81 Million Stake in SBA Communications Co. (NASDAQ:SBAC)

National Bank of Canada FI lowered its position in SBA Communications Co. (NASDAQ:SBAC) by 37.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 42,937 shares of the technology company’s stock after selling 25,893 shares during the quarter. National Bank of Canada FI’s holdings in SBA Communications were worth $10,812,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of SBAC. Emerald Advisers LLC acquired a new stake in SBA Communications in the 3rd quarter valued at about $31,000. CVA Family Office LLC bought a new position in shares of SBA Communications during the 4th quarter worth approximately $37,000. Pinnacle Bancorp Inc. increased its holdings in shares of SBA Communications by 73.6% during the 4th quarter. Pinnacle Bancorp Inc. now owns 158 shares of the technology company’s stock worth $40,000 after acquiring an additional 67 shares during the last quarter. Allworth Financial LP raised its stake in SBA Communications by 37.8% in the 4th quarter. Allworth Financial LP now owns 164 shares of the technology company’s stock valued at $42,000 after acquiring an additional 45 shares during the period. Finally, Turtle Creek Wealth Advisors LLC acquired a new stake in SBA Communications during the 4th quarter valued at $43,000. Institutional investors own 97.35% of the company’s stock.

SBA Communications Stock Performance

SBAC opened at $197.22 on Thursday. SBA Communications Co. has a 52-week low of $183.64 and a 52-week high of $258.76. The firm has a market cap of $21.32 billion, a P/E ratio of 38.67, a price-to-earnings-growth ratio of 0.57 and a beta of 0.59. The business’s fifty day moving average is $208.00 and its 200-day moving average is $222.65.

SBA Communications (NASDAQ:SBAC) last released its earnings results on Monday, April 29th. The technology company reported $1.42 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $671.08 million. During the same period last year, the firm earned $3.13 EPS. The business’s quarterly revenue was down 2.6% compared to the same quarter last year. On average, research analysts predict that SBA Communications Co. will post 12.53 earnings per share for the current fiscal year.

SBA Communications Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 19th. Shareholders of record on Thursday, May 23rd will be paid a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a yield of 1.99%. The ex-dividend date is Wednesday, May 22nd. SBA Communications’s payout ratio is presently 76.86%.

Insider Buying and Selling at SBA Communications

In other news, Director Mary S. Chan sold 1,977 shares of the business’s 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 of the company’s stock, valued at approximately $1,007,549.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on SBAC. TD Cowen decreased their price objective on shares of SBA Communications from $266.00 to $253.00 and set a “buy” rating on the stock in a report on Tuesday, April 30th. BMO Capital Markets lowered their price target on shares of SBA Communications from $285.00 to $265.00 and set an “outperform” rating on the stock in a report on Tuesday, February 27th. Citigroup reduced their price objective on SBA Communications from $290.00 to $260.00 and set a “buy” rating for the company in a report on Tuesday, April 30th. Wells Fargo & Company decreased their target price on SBA Communications from $260.00 to $230.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 30th. Finally, Bank of America raised SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 price target for the company in a report on Thursday, March 7th. One investment analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $254.75.

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.