Barrow Hanley Mewhinney & Strauss LLC Buys New Stake in SBA Communications Co. (NASDAQ:SBAC)

Barrow Hanley Mewhinney & Strauss LLC purchased a new position in shares of SBA Communications Co. (NASDAQ:SBAC) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 686,390 shares of the technology company’s stock, valued at approximately $134,738,000. Barrow Hanley Mewhinney & Strauss LLC owned 0.64% of SBA Communications as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in SBAC. Ridgewood Investments LLC bought a new position in shares of SBA Communications during the 2nd quarter worth approximately $32,000. Family Firm Inc. acquired a new stake in shares of SBA Communications in the 2nd quarter valued at $36,000. Quarry LP boosted its stake in shares of SBA Communications by 400.0% in the 4th quarter. Quarry LP now owns 165 shares of the technology company’s stock valued at $42,000 after purchasing an additional 132 shares in the last quarter. Global X Japan Co. Ltd. bought a new stake in shares of SBA Communications in the 2nd quarter worth about $49,000. Finally, Versant Capital Management Inc increased its position in shares of SBA Communications by 4,500.0% during the 2nd quarter. Versant Capital Management Inc now owns 276 shares of the technology company’s stock worth $54,000 after purchasing an additional 270 shares in the last quarter. 97.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SBAC has been the topic of a number of recent analyst reports. KeyCorp boosted their price target on shares of SBA Communications from $227.00 to $230.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. StockNews.com upgraded SBA Communications from a “hold” rating to a “buy” rating in a research report on Friday. Royal Bank of Canada raised their price target on SBA Communications from $235.00 to $245.00 and gave the company an “outperform” rating in a report on Monday, August 5th. BMO Capital Markets reduced their price objective on SBA Communications from $250.00 to $245.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 30th. Finally, Morgan Stanley raised their target price on SBA Communications from $232.00 to $252.00 and gave the company an “overweight” rating in a research note on Wednesday. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, SBA Communications currently has a consensus rating of “Moderate Buy” and a consensus target price of $240.00.

Insider Activity

In related news, EVP Donald Day sold 1,500 shares of SBA Communications stock in a transaction on 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 of the company’s stock, valued at $1,213,814.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, EVP Donald Day sold 1,500 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $242.86, for a total value of $364,290.00. Following the sale, the executive vice president now directly owns 4,998 shares in the company, valued at approximately $1,213,814.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Jeffrey Stoops sold 49,765 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $222.01, for a total transaction of $11,048,327.65. Following the transaction, the chairman now owns 109,583 shares of the company’s stock, valued at approximately $24,328,521.83. 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 in the last 90 days. 1.30% of the stock is owned by company insiders.

SBA Communications Stock Up 0.5 %

SBA Communications stock opened at $239.47 on Friday. The business’s 50-day simple moving average is $224.12 and its 200 day simple moving average is $209.24. The stock has a market cap of $25.73 billion, a price-to-earnings ratio of 46.95, a P/E/G ratio of 0.75 and a beta of 0.67. SBA Communications Co. has a 12-month low of $183.64 and a 12-month high of $258.76.

SBA Communications (NASDAQ:SBAC) last issued its earnings results on Monday, July 29th. The technology company reported $1.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.07 by ($0.56). The business had revenue of $660.50 million during 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%. The firm’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same period last year, the business posted $3.24 EPS. As a group, sell-side analysts expect that SBA Communications Co. will post 12.53 EPS for the current year.

SBA Communications Dividend Announcement

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

SBA Communications Company 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.