Charles Schwab Investment Management Inc. Acquires 62,555 Shares of SBA Communications Co. (NASDAQ:SBAC)

Charles Schwab Investment Management Inc. increased its holdings in shares of SBA Communications Co. (NASDAQ:SBAC) by 5.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,269,786 shares of the technology company’s stock after buying an additional 62,555 shares during the period. Charles Schwab Investment Management Inc. owned 1.18% of SBA Communications worth $305,637,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Virtu Financial LLC bought a new position in SBA Communications during the 1st quarter worth approximately $1,764,000. Tidal Investments LLC increased its position in shares of SBA Communications by 105.4% in the 1st quarter. Tidal Investments LLC now owns 5,279 shares of the technology company’s stock valued at $1,144,000 after buying an additional 2,709 shares in the last quarter. Lazard Asset Management LLC raised its stake in SBA Communications by 7.8% during the 1st quarter. Lazard Asset Management LLC now owns 148,687 shares of the technology company’s stock worth $32,219,000 after buying an additional 10,753 shares during the period. AMF Tjanstepension AB bought a new position in SBA Communications during the second quarter worth about $8,197,000. Finally, Cetera Investment Advisers grew its stake in SBA Communications by 228.1% in the first quarter. Cetera Investment Advisers now owns 10,394 shares of the technology company’s stock valued at $2,252,000 after acquiring an additional 7,226 shares during the period. 97.35% of the stock is currently owned by institutional investors and hedge funds.

SBA Communications Stock Up 0.6 %

SBAC opened at $220.66 on Friday. SBA Communications Co. has a 12-month low of $183.64 and a 12-month high of $258.76. The stock has a market cap of $23.73 billion, a price-to-earnings ratio of 34.80, a PEG ratio of 0.74 and a beta of 0.68. The business has a 50 day moving average of $234.22 and a 200-day moving average of $217.17.

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

SBA Communications Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 14th will be given a $0.98 dividend. This represents a $3.92 annualized dividend and a dividend yield of 1.78%. The ex-dividend date of this dividend is Thursday, November 14th. SBA Communications’s payout ratio is 61.83%.

Insider Buying and Selling at SBA Communications

In other SBA Communications news, EVP Donald Day sold 1,500 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now owns 4,998 shares of the company’s stock, valued at $1,213,814.28. The trade was a 23.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on SBAC shares. Raymond James raised their price target on SBA Communications from $285.00 to $300.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, October 29th. TD Cowen boosted their price objective on shares of SBA Communications from $251.00 to $261.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. Barclays upped their price target on SBA Communications from $236.00 to $256.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of SBA Communications from $230.00 to $240.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Finally, The Goldman Sachs Group raised their target price on shares of SBA Communications from $212.00 to $240.00 and gave the company a “neutral” rating in a research report on Thursday, September 26th. Three investment 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 data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $257.23.

SBA Communications 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.