Advisor OS LLC Increases Stock Position in SBA Communications Co. (NASDAQ:SBAC)

Advisor OS LLC grew its position in shares of SBA Communications Co. (NASDAQ:SBAC) by 3.0% in the second quarter, HoldingsChannel reports. The firm owned 12,461 shares of the technology company’s stock after buying an additional 364 shares during the quarter. Advisor OS LLC’s holdings in SBA Communications were worth $2,446,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in SBA Communications by 0.5% in the first quarter. Vanguard Group Inc. now owns 17,368,209 shares of the technology company’s stock worth $3,763,691,000 after purchasing an additional 88,339 shares during the period. Principal Financial Group Inc. lifted its holdings in SBA Communications by 54.9% during the 1st quarter. Principal Financial Group Inc. now owns 4,300,157 shares of the technology company’s stock valued at $931,844,000 after buying an additional 1,524,302 shares in the last quarter. Brown Advisory Inc. boosted its position in SBA Communications by 7.9% in the 4th quarter. Brown Advisory Inc. now owns 2,091,103 shares of the technology company’s stock valued at $530,492,000 after buying an additional 153,299 shares during the period. Massachusetts Financial Services Co. MA grew its stake in SBA Communications by 9.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,958,156 shares of the technology company’s stock worth $496,765,000 after acquiring an additional 166,554 shares in the last quarter. Finally, Norges Bank bought a new position in SBA Communications in the fourth quarter worth approximately $286,079,000. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at SBA Communications

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

SBA Communications Trading Up 2.2 %

Shares of SBAC opened at $238.51 on Friday. The firm has a market capitalization of $25.63 billion, a P/E ratio of 46.77, a P/E/G ratio of 0.70 and a beta of 0.67. The firm has a 50-day moving average price of $215.05 and a 200 day moving average price of $206.98. SBA Communications Co. has a 12-month low of $183.64 and a 12-month high of $258.76.

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

SBA Communications Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. KeyCorp upped their target price on SBA Communications from $227.00 to $230.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. The Goldman Sachs Group started coverage on shares of SBA Communications in a research note on Monday, July 1st. They set a “neutral” rating and a $212.00 price objective on the stock. Barclays lowered their target price on SBA Communications from $240.00 to $236.00 and set an “overweight” rating for the company in a report on Tuesday, July 30th. TD Cowen decreased their price objective on SBA Communications from $253.00 to $251.00 and set a “buy” rating for the company in a research note on Tuesday, July 30th. Finally, StockNews.com lowered SBA Communications from a “buy” rating to a “hold” rating in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $237.92.

SBA Communications 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.