KBC Group NV Sells 11,188 Shares of SBA Communications Co. (NASDAQ:SBAC)


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KBC Group NV trimmed its stake in SBA Communications Co. (NASDAQ:SBAC) by 34.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,998 shares of the technology company’s stock after selling 11,188 shares during the period. KBC Group NV’s holdings in SBA Communications were worth $5,828,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SBAC. Norges Bank bought a new position in shares of SBA Communications in the 4th quarter worth $297,815,000. Morgan Stanley raised its position in shares of SBA Communications by 35.4% in the 4th quarter. Morgan Stanley now owns 870,004 shares of the technology company’s stock worth $245,456,000 after acquiring an additional 227,280 shares in the last quarter. Skye Global Management LP raised its position in shares of SBA Communications by 78.7% in the 4th quarter. Skye Global Management LP now owns 381,500 shares of the technology company’s stock worth $107,633,000 after acquiring an additional 168,000 shares in the last quarter. DF Dent & Co. Inc. raised its position in shares of SBA Communications by 32.4% in the 4th quarter. DF Dent & Co. Inc. now owns 526,485 shares of the technology company’s stock worth $148,537,000 after acquiring an additional 128,963 shares in the last quarter. Finally, Duff & Phelps Investment Management Co. bought a new position in shares of SBA Communications in the 4th quarter worth $33,814,000. 93.90% of the stock is owned by hedge funds and other institutional investors.

In other news, EVP Kurt L. Bagwell sold 4,278 shares of the firm’s stock in a transaction on Tuesday, March 9th. The stock was sold at an average price of $246.09, for a total transaction of $1,052,773.02. Following the completion of the transaction, the executive vice president now directly owns 33,710 shares in the company, valued at $8,295,693.90. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Kevin L. Beebe sold 826 shares of the firm’s stock in a transaction on Thursday, March 11th. The stock was sold at an average price of $259.46, for a total value of $214,313.96. Following the transaction, the director now owns 15,107 shares of the company’s stock, valued at $3,919,662.22. The disclosure for this sale can be found here. 2.20% of the stock is owned by company insiders.

Several research analysts recently issued reports on SBAC shares. Wells Fargo & Company upped their target price on SBA Communications from $325.00 to $350.00 and gave the company an “overweight” rating in a research report on Monday. Zacks Investment Research raised SBA Communications from a “sell” rating to a “hold” rating and set a $272.00 target price on the stock in a research report on Friday, February 26th. KeyCorp upped their target price on SBA Communications from $313.00 to $335.00 and gave the company an “overweight” rating in a research report on Tuesday, April 27th. JPMorgan Chase & Co. lowered SBA Communications from an “overweight” rating to a “neutral” rating and set a $305.00 target price on the stock. in a research report on Monday, February 8th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on SBA Communications from $320.00 to $325.00 and gave the stock a “buy” rating in a research note on Tuesday, April 27th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. SBA Communications has a consensus rating of “Buy” and a consensus target price of $319.38.

SBAC stock opened at $298.66 on Tuesday. The business has a fifty day moving average of $282.63 and a two-hundred day moving average of $278.46. The stock has a market cap of $32.65 billion, a price-to-earnings ratio of -1,990.93 and a beta of 0.21. SBA Communications Co. has a 52-week low of $232.88 and a 52-week high of $328.37.

SBA Communications (NASDAQ:SBAC) last posted its earnings results on Sunday, April 25th. The technology company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.45). The business had revenue of $548.70 million during the quarter, compared to the consensus estimate of $540.79 million. The firm’s revenue was up 6.1% compared to the same quarter last year. During the same period last year, the business posted ($1.14) earnings per share. As a group, analysts predict that SBA Communications Co. will post 8.8 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 15th. Shareholders of record on Thursday, May 20th will be paid a dividend of $0.58 per share. The ex-dividend date is Wednesday, May 19th. This represents a $2.32 annualized dividend and a yield of 0.78%. SBA Communications’s dividend payout ratio (DPR) is 27.33%.

SBA Communications Company Profile

SBA Communications Corporation is a first choice provider and leading owner and operator of wireless communications infrastructure in North, Central, and South America and South Africa. By ÂBuilding Better Wireless, SBA generates revenue from two primary businesses Â- site leasing and site development services.

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Institutional Ownership by Quarter for SBA Communications (NASDAQ:SBAC)

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