Natixis Advisors L.P. Increases Stock Holdings in SBA Communications Co. (NASDAQ:SBAC)

Natixis Advisors L.P. grew its holdings in shares of SBA Communications Co. (NASDAQ:SBAC) by 38.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 51,004 shares of the technology company’s stock after purchasing an additional 14,296 shares during the quarter. Natixis Advisors L.P.’s holdings in SBA Communications were worth $12,939,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in SBAC. Allworth Financial LP increased its holdings in SBA Communications by 37.8% during the fourth quarter. Allworth Financial LP now owns 164 shares of the technology company’s stock valued at $42,000 after buying an additional 45 shares during the last quarter. Quaero Capital S.A. increased its stake in shares of SBA Communications by 1.4% in the 4th quarter. Quaero Capital S.A. now owns 3,730 shares of the technology company’s stock worth $946,000 after purchasing an additional 50 shares in the last quarter. Marks Group Wealth Management Inc raised its holdings in SBA Communications by 4.4% in the 4th quarter. Marks Group Wealth Management Inc now owns 1,274 shares of the technology company’s stock worth $323,000 after purchasing an additional 54 shares during the period. Pinnacle Bancorp Inc. lifted its position in SBA Communications by 73.6% during the fourth quarter. Pinnacle Bancorp Inc. now owns 158 shares of the technology company’s stock valued at $40,000 after purchasing an additional 67 shares in the last quarter. Finally, UMB Bank n.a. grew its holdings in SBA Communications by 12.0% during the fourth quarter. UMB Bank n.a. now owns 674 shares of the technology company’s stock valued at $171,000 after purchasing an additional 72 shares during the period. Institutional investors own 97.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Wells Fargo & Company cut their price objective on SBA Communications from $260.00 to $230.00 and set an “overweight” rating for the company in a research note on Tuesday, April 30th. KeyCorp dropped their price target on shares of SBA Communications from $276.00 to $227.00 and set an “overweight” rating for the company in a research report on Tuesday, April 30th. Barclays decreased their price objective on shares of SBA Communications from $255.00 to $241.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 30th. BMO Capital Markets lowered their target price on shares of 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 price target for the company in a research note on Thursday, March 7th. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $254.75.

Insiders Place Their Bets

In other news, Director Mary S. Chan sold 1,977 shares of the stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $217.99, for a total value of $430,966.23. Following the sale, the director now owns 4,622 shares of the company’s stock, valued at $1,007,549.78. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.30% of the stock is owned by insiders.

SBA Communications Stock Up 1.8 %

Shares of NASDAQ:SBAC opened at $196.00 on Wednesday. The firm has a fifty day simple moving average of $208.00 and a two-hundred day simple moving average of $222.65. SBA Communications Co. has a 52 week low of $183.64 and a 52 week high of $258.76. The stock has a market capitalization of $21.19 billion, a P/E ratio of 38.43, a PEG ratio of 0.57 and a beta of 0.59.

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

SBA Communications Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 19th. Investors of record on Thursday, May 23rd will be given a $0.98 dividend. The ex-dividend date is Wednesday, May 22nd. This represents a $3.92 dividend on an annualized basis and a yield of 2.00%. SBA Communications’s dividend payout ratio is presently 76.86%.

About SBA Communications

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.