Motley Fool Asset Management LLC Trims Stock Holdings in SBA Communications Co. (NASDAQ:SBAC)

Motley Fool Asset Management LLC lowered its holdings in shares of SBA Communications Co. (NASDAQ:SBAC) by 1.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 60,980 shares of the technology company’s stock after selling 1,108 shares during the period. SBA Communications comprises approximately 1.2% of Motley Fool Asset Management LLC’s portfolio, making the stock its 21st biggest holding. Motley Fool Asset Management LLC’s holdings in SBA Communications were worth $15,470,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Atria Wealth Solutions Inc. boosted its stake in SBA Communications by 50.9% during the fourth quarter. Atria Wealth Solutions Inc. now owns 3,179 shares of the technology company’s stock valued at $807,000 after buying an additional 1,072 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new position in shares of SBA Communications in the 4th quarter worth approximately $77,000. GAMMA Investing LLC purchased a new position in shares of SBA Communications in the 4th quarter worth approximately $169,000. Marks Group Wealth Management Inc boosted its holdings in shares of SBA Communications by 4.4% in the 4th quarter. Marks Group Wealth Management Inc now owns 1,274 shares of the technology company’s stock worth $323,000 after purchasing an additional 54 shares during the period. Finally, Jennison Associates LLC purchased a new position in shares of SBA Communications in the 4th quarter worth approximately $983,000. 97.35% of the stock is owned by institutional investors.

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 stock was sold at an average price of $217.99, for a total value of $430,966.23. Following the sale, the director now owns 4,622 shares in the company, valued at $1,007,549.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.30% of the company’s stock.

SBA Communications Stock Performance

NASDAQ SBAC traded down $1.07 on Thursday, reaching $197.93. 789,848 shares of the stock traded hands, compared to its average volume of 988,138. The company has a fifty day moving average price of $210.22 and a 200-day moving average price of $222.50. The company has a market cap of $21.40 billion, a price-to-earnings ratio of 42.94, a PEG ratio of 1.22 and a beta of 0.56. SBA Communications Co. has a 12 month low of $185.23 and a 12 month high of $263.08.

SBA Communications (NASDAQ:SBAC) last issued its earnings results 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). The firm had revenue of $675.00 million for the quarter, compared to the consensus estimate of $682.11 million. SBA Communications had a net margin of 18.51% and a negative return on equity of 9.70%. The company’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period last year, the firm earned $3.11 earnings per share. As a group, research analysts anticipate that SBA Communications Co. will post 12.61 earnings per share for the current fiscal 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 paid a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a yield of 1.98%. The ex-dividend date of this dividend was Wednesday, March 13th. This is an increase from SBA Communications’s previous quarterly dividend of $0.85. SBA Communications’s payout ratio is presently 85.03%.

Analysts Set New Price Targets

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

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.