Quent Capital LLC Decreases Holdings in SBA Communications Co. (NASDAQ:SBAC)

Quent Capital LLC trimmed its position in shares of SBA Communications Co. (NASDAQ:SBAC) by 41.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 146 shares of the technology company’s stock after selling 103 shares during the period. Quent Capital LLC’s holdings in SBA Communications were worth $37,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Invesco Ltd. grew its position in SBA Communications by 140.6% during the 3rd quarter. Invesco Ltd. now owns 2,143,877 shares of the technology company’s stock worth $429,140,000 after acquiring an additional 1,252,764 shares during the last quarter. Norges Bank bought a new position in SBA Communications during the 4th quarter worth approximately $310,556,000. Ameriprise Financial Inc. grew its position in SBA Communications by 115.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,358,037 shares of the technology company’s stock worth $271,838,000 after acquiring an additional 727,163 shares during the last quarter. Millennium Management LLC grew its position in SBA Communications by 294.4% during the 4th quarter. Millennium Management LLC now owns 797,089 shares of the technology company’s stock worth $223,432,000 after acquiring an additional 594,994 shares during the last quarter. Finally, Bristol John W & Co. Inc. NY bought a new position in SBA Communications during the 3rd quarter worth approximately $92,725,000. 97.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on SBAC. BMO Capital Markets reduced their price target on SBA Communications from $285.00 to $265.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 27th. Bank of America upgraded SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 price target on the stock in a research report on Thursday, March 7th. KeyCorp lifted their price objective on SBA Communications from $251.00 to $276.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 6th. Finally, Barclays cut their price objective on SBA Communications from $265.00 to $260.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 5th. One research analyst has rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, SBA Communications has a consensus rating of “Buy” and an average price target of $268.38.

SBA Communications Stock Down 1.3 %

Shares of SBAC stock opened at $213.92 on Tuesday. The stock has a market cap of $23.13 billion, a price-to-earnings ratio of 46.40, a PEG ratio of 1.33 and a beta of 0.56. The business’s fifty day moving average is $216.83 and its 200 day moving average is $222.52. SBA Communications Co. has a twelve month low of $185.23 and a twelve month high of $267.42.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings results on Monday, February 26th. The technology company reported $1.01 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.36). The firm had revenue of $675.00 million during the quarter, compared to analysts’ expectations of $682.11 million. SBA Communications had a negative return on equity of 9.70% and a net margin of 18.51%. SBA Communications’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period in the previous year, the company earned $3.11 earnings per share. Equities research analysts expect that SBA Communications Co. will post 12.59 earnings per share for the current fiscal year.

SBA Communications Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were issued a $0.98 dividend. This represents a $3.92 annualized dividend and a yield of 1.83%. This is an increase from SBA Communications’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend was Wednesday, March 13th. SBA Communications’s payout ratio is 85.03%.

Insiders Place Their Bets

In other SBA Communications 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 value of $430,966.23. Following the sale, the director now directly owns 4,622 shares of the company’s stock, valued at $1,007,549.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.60% of the company’s stock.

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.