NewEdge Wealth LLC Invests $320,000 in SBA Communications Co. (NASDAQ:SBAC)

NewEdge Wealth LLC bought a new position in SBA Communications Co. (NASDAQ:SBAC) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund bought 1,260 shares of the technology company’s stock, valued at approximately $320,000.

Other large investors have also recently made changes to their positions in the company. Carolinas Wealth Consulting LLC increased its holdings in shares of SBA Communications by 248.0% in the 1st quarter. Carolinas Wealth Consulting LLC now owns 87 shares of the technology company’s stock worth $30,000 after buying an additional 62 shares during the last quarter. Resurgent Financial Advisors LLC purchased a new position in shares of SBA Communications during the 4th quarter worth about $31,000. Ancora Advisors LLC boosted its stake in shares of SBA Communications by 88.6% during the 1st quarter. Ancora Advisors LLC now owns 132 shares of the technology company’s stock worth $37,000 after purchasing an additional 62 shares during the period. CVA Family Office LLC purchased a new position in shares of SBA Communications during the 4th quarter worth about $37,000. Finally, Emerald Advisers LLC purchased a new position in shares of SBA Communications during the 3rd quarter worth about $31,000. 97.35% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on SBAC shares. Bank of America raised shares of SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 price objective for the company in a research report on Thursday, March 7th. BMO Capital Markets lowered their price target on shares of SBA Communications from $285.00 to $265.00 and set an “outperform” rating for the company in a research report on Tuesday, February 27th. Finally, Barclays lowered their price target on shares of SBA Communications from $260.00 to $255.00 and set an “overweight” rating for the company in a research report on Wednesday. One investment analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $268.00.

Insider Transactions at SBA Communications

In other news, Director Mary S. Chan sold 1,977 shares of the stock in a transaction 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 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 this hyperlink. Company insiders own 1.60% of the company’s stock.

SBA Communications Trading Up 0.6 %

Shares of SBA Communications stock opened at $196.22 on Thursday. SBA Communications Co. has a 12-month low of $185.23 and a 12-month high of $266.77. The firm has a market capitalization of $21.21 billion, a price-to-earnings ratio of 42.56, a PEG ratio of 1.19 and a beta of 0.56. The firm’s 50 day simple moving average is $212.12 and its two-hundred day simple moving average is $222.50.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings results on Monday, February 26th. The technology company reported $1.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.36). SBA Communications had a net margin of 18.51% and a negative return on equity of 9.70%. The company had revenue of $675.00 million for the quarter, compared to analyst estimates of $682.11 million. During the same quarter in the previous year, the company posted $3.11 EPS. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. On average, sell-side analysts predict that SBA Communications Co. will post 12.6 EPS for the current fiscal year.

SBA Communications Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were paid a $0.98 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 2.00%. This is a positive change from SBA Communications’s previous quarterly dividend of $0.85. SBA Communications’s dividend payout ratio is presently 85.03%.

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.