Team Hewins LLC Invests $382,000 in SBA Communications Co. (NASDAQ:SBAC)

Team Hewins LLC bought a new position in SBA Communications Co. (NASDAQ:SBAC) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,506 shares of the technology company’s stock, valued at approximately $382,000.

A number of other institutional investors and hedge funds have also bought and sold shares of SBAC. Invesco Ltd. grew its holdings in shares of SBA Communications by 140.6% during the third quarter. Invesco Ltd. now owns 2,143,877 shares of the technology company’s stock valued at $429,140,000 after buying an additional 1,252,764 shares during the last quarter. Brown Advisory Inc. increased its holdings in shares of SBA Communications by 7.9% in the 4th quarter. Brown Advisory Inc. now owns 2,091,103 shares of the technology company’s stock worth $530,492,000 after purchasing an additional 153,299 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of SBA Communications by 9.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,958,156 shares of the technology company’s stock worth $496,765,000 after purchasing an additional 166,554 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of SBA Communications by 115.3% during the third quarter. Ameriprise Financial Inc. now owns 1,358,037 shares of the technology company’s stock valued at $271,838,000 after purchasing an additional 727,163 shares in the last quarter. Finally, Northern Trust Corp boosted its position in shares of SBA Communications by 1.0% during the third quarter. Northern Trust Corp now owns 1,209,592 shares of the technology company’s stock valued at $242,124,000 after buying an additional 12,450 shares during the last quarter. 97.35% of the stock is currently owned by institutional investors.

SBA Communications Trading Down 0.4 %

SBA Communications stock traded down $0.70 during midday trading on Friday, hitting $188.09. The stock had a trading volume of 500,632 shares, compared to its average volume of 992,092. SBA Communications Co. has a 52-week low of $183.64 and a 52-week high of $258.76. The company has a market capitalization of $20.21 billion, a PE ratio of 36.88, a P/E/G ratio of 0.60 and a beta of 0.59. The firm’s fifty day moving average is $203.13 and its two-hundred day moving average is $221.50.

SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings data on Monday, April 29th. The technology company reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.21. SBA Communications had a net margin of 20.61% and a negative return on equity of 10.75%. The firm had revenue of $657.86 million during the quarter, compared to analysts’ expectations of $671.08 million. During the same period in the prior year, the company posted $3.13 earnings per share. The company’s revenue for the quarter was down 2.6% compared to the same quarter last year. As a group, 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 firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 19th. Stockholders of record on Thursday, May 23rd will be given a $0.98 dividend. The ex-dividend date of this dividend is Wednesday, May 22nd. This represents a $3.92 annualized dividend and a dividend yield of 2.08%. SBA Communications’s payout ratio is 76.86%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on SBAC. KeyCorp decreased their target price on SBA Communications from $276.00 to $227.00 and set an “overweight” rating for the company in a research report on Tuesday, April 30th. TD Cowen decreased their price objective on shares of SBA Communications from $266.00 to $253.00 and set a “buy” rating for the company in a report on Tuesday, April 30th. Royal Bank of Canada lowered their price objective on shares of SBA Communications from $250.00 to $235.00 and set an “outperform” rating on the stock in a research report on Thursday, May 9th. Citigroup cut their target price on shares of SBA Communications from $290.00 to $260.00 and set a “buy” rating for the company in a research report on Tuesday, April 30th. Finally, Barclays lowered their price target on SBA Communications from $255.00 to $241.00 and set an “overweight” rating on the stock in a report on Tuesday, April 30th. Eleven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, SBA Communications currently has a consensus rating of “Buy” and an average target price of $252.25.

Insider Transactions at SBA Communications

In other news, Director Mary S. Chan sold 1,977 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $217.99, for a total value of $430,966.23. Following the transaction, the director now owns 4,622 shares of the company’s stock, valued at $1,007,549.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.30% of the company’s stock.

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.