Charles Schwab Investment Management Inc. Has $305.64 Million Stake in SBA Communications Co. (NASDAQ:SBAC)

Charles Schwab Investment Management Inc. lifted its position in shares of SBA Communications Co. (NASDAQ:SBAC) by 5.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,269,786 shares of the technology company’s stock after acquiring an additional 62,555 shares during the period. Charles Schwab Investment Management Inc.’s holdings in SBA Communications were worth $305,637,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in SBAC. Ashton Thomas Securities LLC acquired a new stake in shares of SBA Communications in the 3rd quarter valued at $26,000. Ridgewood Investments LLC acquired a new stake in SBA Communications in the second quarter valued at about $32,000. Capital Performance Advisors LLP bought a new position in SBA Communications in the third quarter valued at about $35,000. Family Firm Inc. acquired a new position in SBA Communications during the second quarter worth about $36,000. Finally, Global X Japan Co. Ltd. bought a new position in shares of SBA Communications in the second quarter worth about $49,000. Institutional investors and hedge funds own 97.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. JPMorgan Chase & Co. upped their price objective on shares of SBA Communications from $228.00 to $250.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd. TD Cowen upped their price target on shares of SBA Communications from $251.00 to $261.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. Wells Fargo & Company raised their price objective on SBA Communications from $220.00 to $240.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft upped their target price on SBA Communications from $230.00 to $240.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Finally, Raymond James raised their price target on shares of SBA Communications from $285.00 to $300.00 and gave the company a “strong-buy” rating in a research note on Tuesday, October 29th. Three analysts have 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. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $257.23.

Insider Transactions at SBA Communications

In related news, EVP Donald Day sold 1,500 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $242.86, for a total value of $364,290.00. Following the transaction, the executive vice president now owns 4,998 shares of the company’s stock, valued at approximately $1,213,814.28. This trade represents a 23.08 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.30% of the stock is owned by insiders.

SBA Communications Price Performance

Shares of NASDAQ:SBAC opened at $220.66 on Friday. The business’s 50-day moving average is $234.22 and its 200-day moving average is $217.17. SBA Communications Co. has a 1 year low of $183.64 and a 1 year high of $258.76. The company has a market capitalization of $23.73 billion, a price-to-earnings ratio of 34.80, a P/E/G ratio of 0.74 and a beta of 0.68.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings results on Monday, October 28th. The technology company reported $2.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.17 by ($0.77). The business had revenue of $667.60 million during the quarter, compared to analyst estimates of $669.29 million. SBA Communications had a net margin of 25.76% and a negative return on equity of 13.13%. SBA Communications’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same period last year, the firm posted $3.34 earnings per share. Analysts anticipate that SBA Communications Co. will post 12.56 EPS for the current year.

SBA Communications Announces Dividend

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

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.