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

Motley Fool Asset Management LLC lessened its position in shares of SBA Communications Co. (NASDAQ:SBAC) by 1.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 60,980 shares of the technology company’s stock after selling 1,108 shares during the period. SBA Communications accounts for 1.2% of Motley Fool Asset Management LLC’s investment portfolio, making the stock its 21st largest position. Motley Fool Asset Management LLC owned about 0.06% of SBA Communications worth $15,470,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Allworth Financial LP increased its stake in SBA Communications by 37.8% in the 4th quarter. Allworth Financial LP now owns 164 shares of the technology company’s stock worth $42,000 after acquiring an additional 45 shares during the last quarter. Quaero Capital S.A. increased its position in SBA Communications by 1.4% during the 4th quarter. Quaero Capital S.A. now owns 3,730 shares of the technology company’s stock valued at $946,000 after buying an additional 50 shares in the last quarter. Marks Group Wealth Management Inc increased 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 in the last quarter. Pinnacle Bancorp Inc. increased its holdings in shares of SBA Communications by 73.6% in the 4th quarter. Pinnacle Bancorp Inc. now owns 158 shares of the technology company’s stock worth $40,000 after purchasing an additional 67 shares in the last quarter. Finally, UMB Bank n.a. boosted its stake in shares of SBA Communications by 12.0% in the 4th quarter. UMB Bank n.a. now owns 674 shares of the technology company’s stock worth $171,000 after buying an additional 72 shares during the last quarter. Hedge funds and other institutional investors own 97.35% of the company’s stock.

SBA Communications Price Performance

Shares of SBAC stock traded down $1.07 during trading on Thursday, hitting $197.93. 789,848 shares of the stock traded hands, compared to its average volume of 988,138. The firm has a market capitalization of $21.40 billion, a P/E ratio of 42.94, a price-to-earnings-growth ratio of 1.22 and a beta of 0.56. SBA Communications Co. has a 52-week low of $185.23 and a 52-week high of $263.08. The firm’s fifty day moving average price is $210.22 and its 200-day moving average price is $222.50.

SBA Communications (NASDAQ:SBAC) last posted 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). The business had revenue of $675.00 million during the quarter, compared to analyst estimates of $682.11 million. SBA Communications had a negative return on equity of 9.70% and a net margin of 18.51%. The business’s revenue was down 1.6% on a year-over-year basis. During the same quarter last year, the firm earned $3.11 EPS. As a group, equities research analysts expect that SBA Communications Co. will post 12.61 earnings per share for the current year.

SBA Communications Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued a dividend of $0.98 per share. This is a boost from SBA Communications’s previous quarterly dividend of $0.85. This represents a $3.92 annualized dividend and a yield of 1.98%. The ex-dividend date of this dividend was Wednesday, March 13th. SBA Communications’s dividend payout ratio is currently 85.03%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other news, Director Mary S. Chan sold 1,977 shares of the stock in a transaction that occurred on 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 in the company, valued at $1,007,549.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.30% of the stock is currently owned by corporate 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.