Banque Cantonale Vaudoise Sells 7,643 Shares of SBA Communications Co. (NASDAQ:SBAC)

Banque Cantonale Vaudoise lowered its holdings in SBA Communications Co. (NASDAQ:SBAC) by 64.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,254 shares of the technology company’s stock after selling 7,643 shares during the quarter. Banque Cantonale Vaudoise’s holdings in SBA Communications were worth $1,024,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Napa Wealth Management increased its stake in SBA Communications by 21.0% in the third quarter. Napa Wealth Management now owns 1,444 shares of the technology company’s stock valued at $348,000 after acquiring an additional 251 shares during the period. Thrivent Financial for Lutherans increased its stake in SBA Communications by 9.0% in the third quarter. Thrivent Financial for Lutherans now owns 874,945 shares of the technology company’s stock valued at $210,600,000 after acquiring an additional 72,255 shares during the period. Atlanta Consulting Group Advisors LLC bought a new stake in SBA Communications in the third quarter valued at about $204,000. Natixis Advisors LLC increased its stake in SBA Communications by 46.4% in the third quarter. Natixis Advisors LLC now owns 74,835 shares of the technology company’s stock valued at $18,013,000 after acquiring an additional 23,715 shares during the period. Finally, Mizuho Securities USA LLC increased its stake in SBA Communications by 1,011.1% in the third quarter. Mizuho Securities USA LLC now owns 92,079 shares of the technology company’s stock valued at $22,163,000 after acquiring an additional 83,792 shares during the period. Institutional investors own 97.35% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Donald Day sold 1,500 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $242.86, for a total transaction of $364,290.00. Following the sale, the executive vice president now directly owns 4,998 shares in the company, valued at $1,213,814.28. This trade represents a 23.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 1.30% of the company’s stock.

SBA Communications Stock Performance

SBAC opened at $218.94 on Thursday. The firm’s fifty day moving average is $235.07 and its two-hundred day moving average is $216.95. The firm has a market cap of $23.54 billion, a PE ratio of 34.53, a price-to-earnings-growth ratio of 0.75 and a beta of 0.68. SBA Communications Co. has a twelve month low of $183.64 and a twelve month high of $258.76.

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

SBA Communications Dividend Announcement

The company also recently announced 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 is Thursday, November 14th. This represents a $3.92 annualized dividend and a yield of 1.79%. SBA Communications’s dividend payout ratio (DPR) is presently 61.83%.

Wall Street Analyst Weigh In

Several analysts have weighed in on SBAC shares. Barclays upped their price objective on shares of SBA Communications from $236.00 to $256.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. StockNews.com raised shares of SBA Communications from a “hold” rating to a “buy” rating in a research note on Thursday, November 7th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of SBA Communications from $230.00 to $240.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. KeyCorp upped their price objective on shares of SBA Communications from $230.00 to $280.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Finally, The Goldman Sachs Group upped their price objective on shares of SBA Communications from $212.00 to $240.00 and gave the stock a “neutral” rating in a research note on Thursday, September 26th. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $257.23.

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.