Gilbert & Cook Inc. Sells 128 Shares of SBA Communications Co. (NASDAQ:SBAC)

Gilbert & Cook Inc. reduced its position in SBA Communications Co. (NASDAQ:SBAC) by 6.4% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 1,871 shares of the technology company’s stock after selling 128 shares during the quarter. Gilbert & Cook Inc.’s holdings in SBA Communications were worth $450,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of SBAC. Janney Montgomery Scott LLC increased its holdings in SBA Communications by 72.5% in the 1st quarter. Janney Montgomery Scott LLC now owns 2,389 shares of the technology company’s stock valued at $518,000 after buying an additional 1,004 shares during the period. Empowered Funds LLC increased its holdings in SBA Communications by 28.2% in the 1st quarter. Empowered Funds LLC now owns 1,355 shares of the technology company’s stock valued at $294,000 after buying an additional 298 shares during the period. Vanguard Group Inc. increased its holdings in SBA Communications by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 17,368,209 shares of the technology company’s stock valued at $3,763,691,000 after buying an additional 88,339 shares during the period. Cynosure Group LLC bought a new stake in shares of SBA Communications during the 1st quarter valued at approximately $313,000. Finally, Clearbridge Investments LLC grew its holdings in shares of SBA Communications by 9.6% during the 1st quarter. Clearbridge Investments LLC now owns 332,871 shares of the technology company’s stock valued at $72,133,000 after purchasing an additional 29,244 shares during the last quarter. 97.35% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on SBAC. Wells Fargo & Company lifted their price target on shares of SBA Communications from $220.00 to $240.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. Royal Bank of Canada lifted their price target on shares of SBA Communications from $235.00 to $245.00 and gave the company an “outperform” rating in a report on Monday, August 5th. TD Cowen lifted their price target on shares of SBA Communications from $251.00 to $261.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. BMO Capital Markets lifted their target price on shares of SBA Communications from $255.00 to $260.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 29th. Finally, JPMorgan Chase & Co. lifted their target price on shares of SBA Communications from $228.00 to $250.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd. Three equities research 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $257.23.

SBA Communications Stock Performance

Shares of NASDAQ SBAC opened at $221.09 on Friday. The company’s 50 day moving average price is $236.35 and its 200-day moving average price is $216.37. The company has a market capitalization of $23.77 billion, a P/E ratio of 34.87, a price-to-earnings-growth ratio of 0.75 and a beta of 0.68. SBA Communications Co. has a 52-week low of $183.64 and a 52-week high of $258.76.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings data on Monday, October 28th. The technology company reported $2.40 earnings per share for the quarter, missing the consensus estimate of $3.17 by ($0.77). The company 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 business’s revenue was down 2.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.34 EPS. Analysts forecast that SBA Communications Co. will post 12.56 earnings per share for the current year.

SBA Communications Dividend Announcement

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

Insider Activity

In other SBA Communications news, EVP Donald Day sold 1,500 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $242.86, for a total transaction of $364,290.00. Following the completion of the sale, the executive vice president now owns 4,998 shares in the company, valued at approximately $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 can be accessed through the SEC website. Also, Director George R. Krouse, Jr. sold 325 shares of the business’s stock in a transaction on 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 $1,775,084.72. This trade represents a 3.86 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by company 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.