ING Groep NV Cuts Stake in SBA Communications Co. (NASDAQ:SBAC)

ING Groep NV reduced its holdings in shares of SBA Communications Co. (NASDAQ:SBAC) by 0.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,373 shares of the technology company’s stock after selling 85 shares during the period. ING Groep NV’s holdings in SBA Communications were worth $3,460,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Thurston Springer Miller Herd & Titak Inc. raised its position in SBA Communications by 10.7% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 527 shares of the technology company’s stock worth $127,000 after purchasing an additional 51 shares during the period. Oregon Public Employees Retirement Fund increased its holdings in shares of SBA Communications by 0.6% in the second quarter. Oregon Public Employees Retirement Fund now owns 9,265 shares of the technology company’s stock worth $1,819,000 after buying an additional 53 shares during the period. Farther Finance Advisors LLC boosted its holdings in SBA Communications by 32.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company’s stock valued at $52,000 after acquiring an additional 53 shares during the period. Checchi Capital Advisers LLC grew its position in SBA Communications by 4.1% during the 2nd quarter. Checchi Capital Advisers LLC now owns 1,457 shares of the technology company’s stock worth $286,000 after acquiring an additional 57 shares during the last quarter. Finally, Industrial Alliance Investment Management Inc. grew its position in SBA Communications by 3.9% during the 1st quarter. Industrial Alliance Investment Management Inc. now owns 1,560 shares of the technology company’s stock worth $338,000 after acquiring an additional 58 shares during the last quarter. 97.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SBAC. Raymond James increased their price objective on SBA Communications from $285.00 to $300.00 and gave the company a “strong-buy” rating in a research note on Tuesday, October 29th. StockNews.com raised shares of SBA Communications from a “hold” rating to a “buy” rating in a report on Thursday, November 7th. The Goldman Sachs Group increased their target price on shares of SBA Communications from $212.00 to $240.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. Barclays raised their target price on SBA Communications from $236.00 to $256.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Finally, Royal Bank of Canada boosted their price target on SBA Communications from $235.00 to $245.00 and gave the company an “outperform” rating in a report on Monday, August 5th. Three research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $257.23.

Insider Transactions at SBA Communications

In related news, EVP Donald Day sold 1,500 shares of the company’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 transaction, the executive vice president now owns 4,998 shares in the company, valued at $1,213,814.28. The trade was a 23.08 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director George R. Krouse, Jr. sold 325 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $219.58, for a total transaction of $71,363.50. Following the sale, the director now owns 8,084 shares of the company’s stock, valued at approximately $1,775,084.72. This represents a 3.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

SBA Communications Stock Up 1.2 %

Shares of SBAC stock opened at $221.09 on Friday. The stock has a market cap of $23.77 billion, a price-to-earnings ratio of 34.87, a PEG ratio of 0.74 and a beta of 0.68. The business’s fifty day moving average is $236.35 and its 200 day moving average is $216.16. SBA Communications Co. has a twelve month low of $183.64 and a twelve month high of $258.76.

SBA Communications (NASDAQ:SBAC) last released its 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). 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 analysts’ expectations of $669.29 million. During the same period in the prior year, the company earned $3.34 earnings per share. The firm’s quarterly revenue was down 2.2% compared to the same quarter last year. Equities research analysts expect that SBA Communications Co. will post 12.56 earnings per share for the current fiscal year.

SBA Communications Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 14th will be issued a dividend of $0.98 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $3.92 annualized dividend and a dividend yield of 1.77%. SBA Communications’s payout ratio is 61.83%.

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.