Headlands Technologies LLC Has $795,000 Stock Position in SBA Communications Co. (NASDAQ:SBAC)

Headlands Technologies LLC lessened its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 16.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,132 shares of the technology company’s stock after selling 636 shares during the quarter. Headlands Technologies LLC’s holdings in SBA Communications were worth $795,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of SBAC. Invesco Ltd. boosted its stake in shares of SBA Communications by 140.6% in the 3rd quarter. Invesco Ltd. now owns 2,143,877 shares of the technology company’s stock valued at $429,140,000 after purchasing an additional 1,252,764 shares in the last quarter. Ameriprise Financial Inc. increased 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 worth $271,838,000 after buying an additional 727,163 shares in the last quarter. Bristol John W & Co. Inc. NY bought a new position in shares of SBA Communications in the third quarter valued at approximately $92,725,000. Diamond Hill Capital Management Inc. boosted its holdings in shares of SBA Communications by 29.5% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 992,547 shares of the technology company’s stock worth $198,678,000 after acquiring an additional 226,113 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its position in SBA Communications by 75.0% during the 3rd quarter. Envestnet Asset Management Inc. now owns 358,026 shares of the technology company’s stock worth $71,666,000 after acquiring an additional 153,476 shares during the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.

Insider Buying and Selling at SBA Communications

In other news, Director Mary S. Chan sold 1,977 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $217.99, for a total value of $430,966.23. Following the sale, the director now directly owns 4,622 shares of the company’s stock, valued at approximately $1,007,549.78. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Barclays reduced their price objective on SBA Communications from $260.00 to $255.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 17th. Bank of America raised shares of SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 price objective on the stock in a report on Thursday, March 7th. Finally, BMO Capital Markets dropped their target price on shares of SBA Communications from $285.00 to $265.00 and set an “outperform” rating for the company in a research note on Tuesday, February 27th. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, SBA Communications currently has an average rating of “Buy” and a consensus price target of $268.00.

SBA Communications Stock Down 0.9 %

Shares of SBAC stock traded down $1.70 during trading on Friday, reaching $196.23. The company’s stock had a trading volume of 644,235 shares, compared to its average volume of 826,238. SBA Communications Co. has a one year low of $185.23 and a one year high of $263.08. The business has a fifty day moving average price of $210.01 and a 200-day moving average price of $222.51. The company has a market cap of $21.21 billion, a price-to-earnings ratio of 42.57, a price-to-earnings-growth ratio of 1.22 and a beta of 0.56.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings results on Monday, February 26th. The technology company reported $1.01 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.36). SBA Communications had a net margin of 18.51% and a negative return on equity of 9.70%. The company had revenue of $675.00 million for the quarter, compared to analyst estimates of $682.11 million. During the same period last year, the company posted $3.11 earnings per share. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. Research analysts anticipate that SBA Communications Co. will post 12.61 EPS for the current year.

SBA Communications Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were given a dividend of $0.98 per share. This is a positive change from SBA Communications’s previous quarterly dividend of $0.85. This represents a $3.92 annualized dividend and a yield of 2.00%. The ex-dividend date was Wednesday, March 13th. SBA Communications’s dividend payout ratio is 85.03%.

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.