Vanguard Personalized Indexing Management LLC Raises Position in SBA Communications Co. (NASDAQ:SBAC)

Vanguard Personalized Indexing Management LLC boosted its position in SBA Communications Co. (NASDAQ:SBAC) by 2.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,821 shares of the technology company’s stock after purchasing an additional 189 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in SBA Communications were worth $1,531,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of 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 in the last quarter. Principal Financial Group Inc. boosted its holdings in SBA Communications by 54.9% in the 1st quarter. Principal Financial Group Inc. now owns 4,300,157 shares of the technology company’s stock worth $931,844,000 after buying an additional 1,524,302 shares during the period. Diamond Hill Capital Management Inc. grew its stake in SBA Communications by 13.4% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 1,973,867 shares of the technology company’s stock valued at $387,470,000 after buying an additional 233,179 shares in the last quarter. American Century Companies Inc. raised its holdings in SBA Communications by 15.5% during the 2nd quarter. American Century Companies Inc. now owns 1,190,288 shares of the technology company’s stock valued at $233,654,000 after acquiring an additional 159,433 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of SBA Communications by 3.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 986,487 shares of the technology company’s stock worth $213,773,000 after acquiring an additional 33,507 shares in the last quarter. 97.35% of the stock is owned by institutional investors.

Insider Activity

In other SBA Communications 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 completion of the sale, the director now directly owns 8,084 shares of the company’s stock, valued at $1,775,084.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director George R. Krouse, Jr. sold 325 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $219.58, for a total transaction of $71,363.50. Following the completion of the sale, the director now directly owns 8,084 shares in the company, valued at approximately $1,775,084.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Jeffrey Stoops sold 49,765 shares of the firm’s stock in a transaction 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 directly owns 109,583 shares in the company, valued at approximately $24,328,521.83. The disclosure for this sale can be found here. In the last 90 days, insiders sold 51,590 shares of company stock valued at $11,483,981. Corporate insiders own 1.30% of the company’s stock.

SBA Communications Stock Performance

Shares of NASDAQ:SBAC opened at $239.47 on Friday. The firm has a fifty day moving average of $224.12 and a 200 day moving average of $209.24. SBA Communications Co. has a 52-week low of $183.64 and a 52-week high of $258.76. The firm has a market capitalization of $25.73 billion, a PE ratio of 46.95, a price-to-earnings-growth ratio of 0.75 and a beta of 0.67.

SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings data on Monday, July 29th. The technology company reported $1.51 EPS for the quarter, missing the consensus estimate of $2.07 by ($0.56). The firm had revenue of $660.50 million for the quarter, compared to the consensus estimate 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 for the quarter was down 2.7% compared to the same quarter last year. During the same quarter last year, the company posted $3.24 earnings per share. On average, sell-side analysts forecast that SBA Communications Co. will post 12.53 EPS for the current fiscal year.

SBA Communications Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on SBAC shares. KeyCorp lifted their price target on SBA Communications from $227.00 to $230.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Barclays decreased their price target on SBA Communications from $240.00 to $236.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of SBA Communications from $230.00 to $240.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. TD Cowen decreased their target price on shares of SBA Communications from $253.00 to $251.00 and set a “buy” rating on the stock in a report on Tuesday, July 30th. Finally, Wells Fargo & Company downgraded shares of SBA Communications from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $230.00 to $220.00 in a report on Monday, July 15th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, SBA Communications currently has an average rating of “Moderate Buy” and a consensus price target of $240.00.

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.