Machina Capital S.A.S. Makes New Investment in SBA Communications Co. (NASDAQ:SBAC)

Machina Capital S.A.S. bought a new position in shares of SBA Communications Co. (NASDAQ:SBAC) during the fourth quarter, HoldingsChannel reports. The firm bought 1,354 shares of the technology company’s stock, valued at approximately $343,000.

A number of other large investors also recently bought and sold shares of the company. Invesco Ltd. lifted its holdings in shares of SBA Communications by 140.6% in the 3rd quarter. Invesco Ltd. now owns 2,143,877 shares of the technology company’s stock worth $429,140,000 after purchasing an additional 1,252,764 shares during the last quarter. Ameriprise Financial Inc. raised its stake in SBA Communications by 115.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,358,037 shares of the technology company’s stock valued at $271,838,000 after acquiring an additional 727,163 shares in the last quarter. Bristol John W & Co. Inc. NY bought a new stake in SBA Communications during the 3rd quarter valued at $92,725,000. Diamond Hill Capital Management Inc. raised its stake in SBA Communications by 29.5% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 992,547 shares of the technology company’s stock valued at $198,678,000 after acquiring an additional 226,113 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in SBA Communications by 75.0% during the 3rd quarter. Envestnet Asset Management Inc. now owns 358,026 shares of the technology company’s stock valued at $71,666,000 after acquiring an additional 153,476 shares in the last quarter. Institutional investors own 97.35% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. KeyCorp cut their target price on SBA Communications from $276.00 to $227.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 30th. Barclays cut their target price on SBA Communications from $255.00 to $241.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 30th. Wells Fargo & Company lowered their price target on SBA Communications from $260.00 to $230.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 30th. Bank of America upgraded SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 price target on the stock in a research report on Thursday, March 7th. Finally, TD Cowen lowered their price target on SBA Communications from $266.00 to $253.00 and set a “buy” rating on the stock in a research report on Tuesday, April 30th. One 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 stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $254.75.

Insider Transactions at SBA Communications

In other news, Director Mary S. Chan sold 1,977 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $217.99, for a total value of $430,966.23. Following the completion of the sale, the director now owns 4,622 shares of the company’s stock, valued at $1,007,549.78. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.30% of the stock is currently owned by insiders.

SBA Communications Trading Up 1.8 %

Shares of NASDAQ SBAC traded up $3.41 during mid-day trading on Tuesday, reaching $196.00. The company had a trading volume of 962,910 shares, compared to its average volume of 1,008,066. The stock has a market cap of $21.19 billion, a PE ratio of 38.55, a P/E/G ratio of 0.57 and a beta of 0.59. The company has a 50-day moving average price of $208.08 and a two-hundred day moving average price of $222.62. SBA Communications Co. has a 1-year low of $183.64 and a 1-year high of $258.76.

SBA Communications (NASDAQ:SBAC) last issued its earnings results on Monday, April 29th. The technology company reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.21. The business had revenue of $657.86 million for the quarter, compared to analysts’ expectations of $671.08 million. SBA Communications had a negative return on equity of 10.75% and a net margin of 20.61%. The company’s quarterly revenue was down 2.6% on a year-over-year basis. During the same period in the previous year, the firm posted $3.13 EPS. On average, research analysts expect that SBA Communications Co. will post 12.53 EPS for the current year.

SBA Communications Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 19th. Stockholders of record on Thursday, May 23rd will be given a $0.98 dividend. The ex-dividend date is Wednesday, May 22nd. This represents a $3.92 annualized dividend and a dividend yield of 2.00%. SBA Communications’s dividend payout ratio (DPR) is presently 76.86%.

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.