Louisiana State Employees Retirement System Sells 200 Shares of SBA Communications Co. (NASDAQ:SBAC)

Louisiana State Employees Retirement System lessened its holdings in shares of SBA Communications Co. (NASDAQ:SBAC) by 3.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,100 shares of the technology company’s stock after selling 200 shares during the quarter. Louisiana State Employees Retirement System’s holdings in SBA Communications were worth $1,197,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Stableford Capital II LLC lifted its position in SBA Communications by 52.4% during the second quarter. Stableford Capital II LLC now owns 6,834 shares of the technology company’s stock valued at $1,464,000 after purchasing an additional 2,350 shares during the last quarter. Commerzbank Aktiengesellschaft FI increased its holdings in shares of SBA Communications by 62.4% in the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 6,071 shares of the technology company’s stock worth $1,192,000 after buying an additional 2,333 shares during the last quarter. Neo Ivy Capital Management purchased a new stake in shares of SBA Communications during the 2nd quarter valued at $3,044,000. Washington Capital Management Inc. grew its position in SBA Communications by 42.4% in the second quarter. Washington Capital Management Inc. now owns 4,920 shares of the technology company’s stock worth $966,000 after acquiring an additional 1,465 shares in the last quarter. Finally, Raymond James & Associates boosted its holdings in shares of SBA Communications by 11.5% in the 2nd quarter. Raymond James & Associates now owns 106,695 shares of the technology company’s stock worth $20,944,000 after purchasing an additional 10,995 shares in the last quarter. Institutional investors own 97.35% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on SBAC. Royal Bank of Canada increased their target price 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. StockNews.com lowered SBA Communications from a “buy” rating to a “hold” rating in a research report on Friday. Barclays dropped their price objective on SBA Communications from $240.00 to $236.00 and set an “overweight” rating for the company in a report on Tuesday, July 30th. BMO Capital Markets cut their price target on shares of SBA Communications from $250.00 to $245.00 and set an “outperform” rating on the stock in a report on Tuesday, July 30th. Finally, TD Cowen lowered their price objective on shares of SBA Communications from $253.00 to $251.00 and set a “buy” rating for the company in a report on Tuesday, July 30th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $237.92.

Insider Buying and Selling

In other SBA Communications news, Director George R. Krouse, Jr. sold 325 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $219.58, for a total value of $71,363.50. Following the completion of the sale, the director now owns 8,084 shares in the company, valued at $1,775,084.72. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Chairman Jeffrey Stoops sold 49,765 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $222.01, for a total value of $11,048,327.65. Following the completion of the transaction, the chairman now owns 109,583 shares of the company’s stock, valued at approximately $24,328,521.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 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 value of $71,363.50. Following the sale, the director now directly owns 8,084 shares in the company, valued at $1,775,084.72. The disclosure for this sale can be found here. 1.30% of the stock is owned by insiders.

SBA Communications Stock Performance

SBA Communications stock opened at $227.54 on Tuesday. SBA Communications Co. has a one year low of $183.64 and a one year high of $258.76. The stock has a fifty day moving average of $208.50 and a 200 day moving average of $205.70. The stock has a market cap of $24.45 billion, a PE ratio of 44.62, a price-to-earnings-growth ratio of 0.67 and a beta of 0.65.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings data on Monday, July 29th. The technology company reported $1.51 earnings per share for the quarter, missing the consensus estimate of $2.07 by ($0.56). The business had revenue of $660.50 million during the quarter, compared to the consensus estimate of $665.21 million. SBA Communications had a negative return on equity of 9.85% and a net margin of 19.22%. SBA Communications’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same quarter last year, the company earned $3.24 EPS. As a group, sell-side analysts predict that SBA Communications Co. will post 12.53 EPS for the current fiscal year.

SBA Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Thursday, August 22nd will be paid a $0.98 dividend. The ex-dividend date is Thursday, August 22nd. This represents a $3.92 annualized dividend and a dividend yield of 1.72%. SBA Communications’s dividend payout ratio (DPR) is 76.86%.

SBA Communications 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.