Fidelis Capital Partners LLC Has $239,000 Position in SBA Communications Co. (NASDAQ:SBAC)

Fidelis Capital Partners LLC cut its holdings in SBA Communications Co. (NASDAQ:SBAC) by 15.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,111 shares of the technology company’s stock after selling 197 shares during the quarter. Fidelis Capital Partners LLC’s holdings in SBA Communications were worth $239,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Gilbert & Cook Inc. boosted its holdings in SBA Communications by 8.3% in the fourth quarter. Gilbert & Cook Inc. now owns 2,386 shares of the technology company’s stock worth $605,000 after purchasing an additional 183 shares in the last quarter. Corient Private Wealth LLC boosted its stake in shares of SBA Communications by 11.7% during the 4th quarter. Corient Private Wealth LLC now owns 13,330 shares of the technology company’s stock worth $3,382,000 after acquiring an additional 1,391 shares in the last quarter. Commerce Bank increased its holdings in shares of SBA Communications by 4.5% during the 4th quarter. Commerce Bank now owns 2,405 shares of the technology company’s stock valued at $610,000 after acquiring an additional 103 shares during the last quarter. Orion Portfolio Solutions LLC raised its stake in shares of SBA Communications by 1.5% in the 4th quarter. Orion Portfolio Solutions LLC now owns 10,260 shares of the technology company’s stock valued at $2,549,000 after acquiring an additional 148 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its stake in shares of SBA Communications by 6.3% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 28,310 shares of the technology company’s stock valued at $7,182,000 after acquiring an additional 1,667 shares in the last quarter. 97.35% of the stock is owned by institutional investors.

SBA Communications Stock Up 0.4 %

Shares of SBAC opened at $240.53 on Tuesday. The stock’s 50-day moving average price is $224.73 and its 200 day moving average price is $209.34. SBA Communications Co. has a 12-month low of $183.64 and a 12-month high of $258.76. The firm has a market capitalization of $25.84 billion, a price-to-earnings ratio of 47.16, a P/E/G ratio of 0.75 and a beta of 0.67.

SBA Communications (NASDAQ:SBAC) last issued its 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 firm had revenue of $660.50 million during the quarter, compared to analyst estimates of $665.21 million. During the same quarter in the previous year, the company posted $3.24 earnings per share. The business’s revenue for the quarter was down 2.7% compared to the same quarter last year. Equities research analysts expect that SBA Communications Co. will post 12.53 EPS for the current year.

SBA Communications Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Thursday, August 22nd were given a dividend of $0.98 per share. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $3.92 annualized dividend and a dividend yield of 1.63%. SBA Communications’s dividend payout ratio (DPR) is currently 76.86%.

Analyst Ratings Changes

SBAC has been the topic of several analyst reports. TD Cowen lowered their price target on SBA Communications from $253.00 to $251.00 and set a “buy” rating on the stock in a report on Tuesday, July 30th. Royal Bank of Canada raised their target price on shares of SBA Communications from $235.00 to $245.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. BMO Capital Markets cut their target price on shares of SBA Communications from $250.00 to $245.00 and set an “outperform” rating for the company in a research report on Tuesday, July 30th. Barclays decreased their price target on shares of SBA Communications from $240.00 to $236.00 and set an “overweight” rating for the company in a report on Tuesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on SBA Communications from $230.00 to $240.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $241.75.

Insider Activity at SBA Communications

In other SBA Communications news, EVP Donald Day sold 1,500 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $242.86, for a total transaction of $364,290.00. Following the completion of the transaction, the executive vice president now owns 4,998 shares in the company, valued at $1,213,814.28. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other 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 in the company, valued at approximately $1,775,084.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Donald Day sold 1,500 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $242.86, for a total transaction of $364,290.00. Following the completion of the sale, the executive vice president now directly owns 4,998 shares in the company, valued at approximately $1,213,814.28. The disclosure for this sale can be found here. Insiders have sold a total of 51,590 shares of company stock valued at $11,483,981 over the last quarter. 1.30% of the stock is owned by company insiders.

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.