Sustainable Insight Capital Management LLC Buys 258 Shares of SBA Communications Co. (NASDAQ:SBAC)

Sustainable Insight Capital Management LLC boosted its stake in SBA Communications Co. (NASDAQ:SBAC) by 24.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,300 shares of the technology company’s stock after buying an additional 258 shares during the quarter. Sustainable Insight Capital Management LLC’s holdings in SBA Communications were worth $255,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Oregon Public Employees Retirement Fund boosted its position in SBA Communications by 0.6% in the second quarter. Oregon Public Employees Retirement Fund now owns 9,265 shares of the technology company’s stock valued at $1,819,000 after buying an additional 53 shares in the last quarter. Ballentine Partners LLC boosted its holdings in SBA Communications by 2.7% in the first quarter. Ballentine Partners LLC now owns 2,068 shares of the technology company’s stock valued at $448,000 after acquiring an additional 55 shares during the last quarter. Checchi Capital Advisers LLC raised its holdings in SBA Communications by 4.1% during the 2nd quarter. Checchi Capital Advisers LLC now owns 1,457 shares of the technology company’s stock worth $286,000 after purchasing an additional 57 shares during the last quarter. Industrial Alliance Investment Management Inc. lifted its position in SBA Communications by 3.9% during the 1st quarter. Industrial Alliance Investment Management Inc. now owns 1,560 shares of the technology company’s stock valued at $338,000 after purchasing an additional 58 shares during the period. Finally, Warwick Investment Management Inc. grew its position in shares of SBA Communications by 6.1% during the 4th quarter. Warwick Investment Management Inc. now owns 1,061 shares of the technology company’s stock worth $269,000 after buying an additional 61 shares during the period. 97.35% of the stock is currently owned by institutional investors.

SBA Communications Stock Performance

NASDAQ:SBAC opened at $238.51 on Friday. SBA Communications Co. has a 52 week low of $183.64 and a 52 week high of $258.76. The firm’s 50-day simple moving average is $215.05 and its 200 day simple moving average is $206.98. The firm has a market cap of $25.63 billion, a price-to-earnings ratio of 46.77, a P/E/G ratio of 0.70 and a beta of 0.67.

SBA Communications (NASDAQ:SBAC) last posted its quarterly earnings results on Monday, July 29th. The technology company reported $1.51 EPS for the quarter, missing analysts’ consensus estimates of $2.07 by ($0.56). SBA Communications had a net margin of 19.22% and a negative return on equity of 9.85%. The company had revenue of $660.50 million during the quarter, compared to analyst estimates of $665.21 million. During the same period last year, the firm earned $3.24 EPS. The firm’s revenue for the quarter was down 2.7% compared to the same quarter last year. Sell-side analysts anticipate that SBA Communications Co. will post 12.53 EPS for the current year.

SBA Communications Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Thursday, August 22nd will be given a $0.98 dividend. The ex-dividend date of this dividend is Thursday, August 22nd. This represents a $3.92 dividend on an annualized basis and a yield of 1.64%. SBA Communications’s dividend payout ratio is currently 76.86%.

Insider Buying and Selling

In related news, Director George R. Krouse, Jr. sold 325 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $219.58, for a total value of $71,363.50. Following the sale, the director now owns 8,084 shares of the company’s stock, valued at $1,775,084.72. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director George R. Krouse, Jr. sold 325 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $219.58, for a total value of $71,363.50. Following the transaction, the director now directly owns 8,084 shares of the company’s stock, valued at approximately $1,775,084.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Jeffrey Stoops sold 49,765 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $222.01, for a total value of $11,048,327.65. Following the transaction, the chairman now owns 109,583 shares in the company, valued at $24,328,521.83. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

SBAC has been the topic of several analyst reports. The Goldman Sachs Group initiated coverage on shares of SBA Communications in a report on Monday, July 1st. They issued a “neutral” rating and a $212.00 target price on the stock. StockNews.com cut shares of SBA Communications from a “buy” rating to a “hold” rating in a report on Wednesday. Wells Fargo & Company cut shares of SBA Communications from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $230.00 to $220.00 in a research report on Monday, July 15th. Deutsche Bank Aktiengesellschaft raised their price objective on SBA Communications from $230.00 to $240.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Finally, Royal Bank of Canada increased their price target on SBA Communications from $235.00 to $245.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $237.92.

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.