Bristol John W & Co. Inc. NY Sells 21,738 Shares of SBA Communications Co. (NASDAQ:SBAC)

Bristol John W & Co. Inc. NY lowered its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 4.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 441,491 shares of the technology company’s stock after selling 21,738 shares during the period. SBA Communications accounts for about 2.1% of Bristol John W & Co. Inc. NY’s investment portfolio, making the stock its 19th largest position. Bristol John W & Co. Inc. NY owned about 0.41% of SBA Communications worth $112,002,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Raymond James Trust N.A. increased its position in SBA Communications by 19.0% in the first quarter. Raymond James Trust N.A. now owns 1,925 shares of the technology company’s stock worth $662,000 after purchasing an additional 307 shares during the last quarter. Vontobel Holding Ltd. increased its position in SBA Communications by 19.6% in the first quarter. Vontobel Holding Ltd. now owns 2,987 shares of the technology company’s stock worth $1,024,000 after purchasing an additional 489 shares during the last quarter. Prudential PLC bought a new stake in SBA Communications in the first quarter worth $568,000. Sequoia Financial Advisors LLC bought a new stake in SBA Communications in the first quarter worth $234,000. Finally, Zions Bancorporation N.A. increased its position in SBA Communications by 157.6% in the first quarter. Zions Bancorporation N.A. now owns 322 shares of the technology company’s stock worth $111,000 after purchasing an additional 197 shares during the last quarter. Institutional investors own 97.35% of the company’s stock.

Wall Street Analysts Forecast Growth

SBAC has been the topic of a number of analyst reports. BMO Capital Markets cut their price objective on shares of SBA Communications from $285.00 to $265.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 27th. Bank of America upgraded shares of SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 price objective on the stock in a research report on Thursday, March 7th. Finally, Barclays cut their price objective on shares of SBA Communications from $265.00 to $260.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 5th. One investment 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. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $268.38.

SBA Communications Trading Down 1.6 %

Shares of SBAC traded down $3.20 during trading hours on Friday, reaching $201.84. 872,520 shares of the company traded hands, compared to its average volume of 840,365. The firm has a market cap of $21.82 billion, a price-to-earnings ratio of 43.78, a PEG ratio of 1.23 and a beta of 0.56. SBA Communications Co. has a 12-month low of $185.23 and a 12-month high of $267.42. The stock’s fifty day moving average price is $213.36 and its 200 day moving average price is $222.53.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings data on Monday, February 26th. The technology company reported $1.01 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.36). SBA Communications had a negative return on equity of 9.70% and a net margin of 18.51%. The business had revenue of $675.00 million during the quarter, compared to analysts’ expectations of $682.11 million. During the same period last year, the company earned $3.11 earnings per share. The firm’s revenue was down 1.6% compared to the same quarter last year. On average, research analysts forecast that SBA Communications Co. will post 12.6 earnings per share for the current year.

SBA Communications Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were paid a $0.98 dividend. The ex-dividend date was Wednesday, March 13th. This is a positive change from SBA Communications’s previous quarterly dividend of $0.85. This represents a $3.92 dividend on an annualized basis and a yield of 1.94%. SBA Communications’s dividend payout ratio is 85.03%.

Insider Buying and Selling

In related 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 completion of the sale, the director now directly 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 SEC, which can be accessed through this hyperlink. 1.60% of the stock is owned by insiders.

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.