Banque Cantonale Vaudoise Sells 7,643 Shares of SBA Communications Co. (NASDAQ:SBAC)

Banque Cantonale Vaudoise lowered its holdings in SBA Communications Co. (NASDAQ:SBAC) by 64.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,254 shares of the technology company’s stock after selling 7,643 shares during the period. Banque Cantonale Vaudoise’s holdings in SBA Communications were worth $1,024,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Ashton Thomas Securities LLC bought a new position in SBA Communications in the third quarter valued at $26,000. Ridgewood Investments LLC bought a new position in shares of SBA Communications in the 2nd quarter valued at about $32,000. Capital Performance Advisors LLP bought a new position in shares of SBA Communications in the 3rd quarter valued at about $35,000. Family Firm Inc. bought a new position in shares of SBA Communications in the 2nd quarter valued at about $36,000. Finally, Global X Japan Co. Ltd. bought a new position in shares of SBA Communications in the 2nd quarter valued at about $49,000. Institutional investors own 97.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on SBAC. KeyCorp lifted their price objective on shares of SBA Communications from $230.00 to $280.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Wells Fargo & Company lifted their price objective on shares of SBA Communications from $220.00 to $240.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. Barclays lifted their price objective on shares of SBA Communications from $236.00 to $256.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Raymond James raised their target price on shares of SBA Communications from $285.00 to $300.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, October 29th. Finally, Morgan Stanley raised their target price on shares of SBA Communications from $232.00 to $252.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 18th. Three research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $257.23.

SBA Communications Stock Down 0.2 %

Shares of SBA Communications stock opened at $218.94 on Thursday. SBA Communications Co. has a twelve month low of $183.64 and a twelve month high of $258.76. The company has a 50-day simple moving average of $235.07 and a two-hundred day simple moving average of $216.95. The stock has a market capitalization of $23.54 billion, a price-to-earnings ratio of 34.53, a price-to-earnings-growth ratio of 0.75 and a beta of 0.68.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings data on Monday, October 28th. The technology company reported $2.40 earnings per share for the quarter, missing the consensus estimate of $3.17 by ($0.77). SBA Communications had a negative return on equity of 13.13% and a net margin of 25.76%. The business had revenue of $667.60 million during the quarter, compared to analyst estimates of $669.29 million. During the same quarter last year, the firm earned $3.34 EPS. SBA Communications’s revenue for the quarter was down 2.2% compared to the same quarter last year. On average, sell-side analysts anticipate that SBA Communications Co. will post 12.56 earnings per share for the current fiscal year.

SBA Communications Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 14th will be paid a $0.98 dividend. This represents a $3.92 annualized dividend and a yield of 1.79%. The ex-dividend date is Thursday, November 14th. SBA Communications’s dividend payout ratio (DPR) is 61.83%.

Insiders Place Their Bets

In other news, EVP Donald Day sold 1,500 shares of the business’s 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 completion of the transaction, the executive vice president now directly owns 4,998 shares in the company, valued at approximately $1,213,814.28. The trade was a 23.08 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.30% of the company’s stock.

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.