SBA Communications Co. (NASDAQ:SBAC) Stake Lessened by Johnson Investment Counsel Inc.

Johnson Investment Counsel Inc. decreased its holdings in shares of SBA Communications Co. (NASDAQ:SBACFree Report) by 8.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,830 shares of the technology company’s stock after selling 164 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in SBA Communications were worth $464,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Invesco Ltd. lifted its position in SBA Communications by 140.6% in the 3rd quarter. Invesco Ltd. now owns 2,143,877 shares of the technology company’s stock worth $429,140,000 after buying an additional 1,252,764 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of SBA Communications by 115.3% during the third 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 in the last quarter. Bristol John W & Co. Inc. NY acquired a new stake in SBA Communications during the third quarter valued at $92,725,000. Diamond Hill Capital Management Inc. grew its stake in SBA Communications by 29.5% in the third quarter. Diamond Hill Capital Management Inc. now owns 992,547 shares of the technology company’s stock valued at $198,678,000 after purchasing an additional 226,113 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its position in SBA Communications by 75.0% in the 3rd quarter. Envestnet Asset Management Inc. now owns 358,026 shares of the technology company’s stock worth $71,666,000 after purchasing an additional 153,476 shares during the last quarter. 97.35% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

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 completion of the transaction, the director now owns 4,622 shares in the company, valued at approximately $1,007,549.78. The sale was disclosed in a filing with the SEC, which is available at this link. 1.30% of the stock is owned by company insiders.

SBA Communications Price Performance

NASDAQ:SBAC opened at $198.03 on Tuesday. The stock has a market cap of $21.28 billion, a P/E ratio of 38.83, a PEG ratio of 0.59 and a beta of 0.59. The company has a fifty day moving average price of $207.41 and a 200 day moving average price of $222.70. SBA Communications Co. has a one year low of $183.64 and a one year high of $258.76.

SBA Communications (NASDAQ:SBACGet Free Report) last released its earnings results on Monday, April 29th. The technology company reported $1.42 earnings per share 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 business had revenue of $657.86 million during the quarter, compared to analysts’ expectations of $671.08 million. During the same quarter last year, the company earned $3.13 earnings per share. The firm’s revenue was down 2.6% on a year-over-year basis. As a group, equities research analysts anticipate that SBA Communications Co. will post 12.53 EPS for the current year.

SBA Communications Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 19th. Investors of record on Thursday, May 23rd will be paid a $0.98 dividend. The ex-dividend date is Wednesday, May 22nd. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.98%. SBA Communications’s payout ratio is 76.86%.

Wall Street Analyst Weigh In

Several brokerages recently commented on SBAC. Barclays lowered their price target on SBA Communications from $255.00 to $241.00 and set an “overweight” rating for the company in a research note on Tuesday, April 30th. Royal Bank of Canada dropped their price target on shares of SBA Communications from $250.00 to $235.00 and set an “outperform” rating on the stock in a research note on Thursday, May 9th. Citigroup reduced their price objective on shares of SBA Communications from $290.00 to $260.00 and set a “buy” rating for the company in a research note on Tuesday, April 30th. Bank of America raised shares of SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 target price on the stock in a research report on Thursday, March 7th. Finally, BMO Capital Markets reduced their price target on SBA Communications from $285.00 to $265.00 and set an “outperform” rating for the company in a research report on Tuesday, February 27th. One investment analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, SBA Communications has a consensus rating of “Buy” and an average price target of $252.25.

Check Out Our Latest Analysis on SBA Communications

SBA Communications Profile

(Free Report)

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.

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Institutional Ownership by Quarter for SBA Communications (NASDAQ:SBAC)

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