Verdence Capital Advisors LLC Sells 55 Shares of SBA Communications Co. (NASDAQ:SBAC)

Verdence Capital Advisors LLC cut its holdings in shares of SBA Communications Co. (NASDAQ:SBAC) by 3.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,349 shares of the technology company’s stock after selling 55 shares during the quarter. Verdence Capital Advisors LLC’s holdings in SBA Communications were worth $342,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in SBAC. CWM LLC increased its holdings in shares of SBA Communications by 9.8% in the third quarter. CWM LLC now owns 1,049 shares of the technology company’s stock worth $210,000 after purchasing an additional 94 shares during the last quarter. SG Americas Securities LLC increased its stake in SBA Communications by 10.8% during the third quarter. SG Americas Securities LLC now owns 6,881 shares of the technology company’s stock worth $1,377,000 after acquiring an additional 670 shares during the last quarter. CreativeOne Wealth LLC bought a new stake in SBA Communications during the third quarter worth approximately $202,000. Oak Thistle LLC increased its stake in SBA Communications by 132.2% during the third quarter. Oak Thistle LLC now owns 6,285 shares of the technology company’s stock worth $1,258,000 after acquiring an additional 3,578 shares during the last quarter. Finally, Czech National Bank increased its stake in SBA Communications by 47.7% during the third quarter. Czech National Bank now owns 18,943 shares of the technology company’s stock worth $3,792,000 after acquiring an additional 6,118 shares during the last quarter. 97.35% of the stock is owned by institutional investors.

SBA Communications Price Performance

SBAC stock opened at $198.30 on Wednesday. The company has a market capitalization of $21.44 billion, a PE ratio of 43.02, a P/E/G ratio of 1.21 and a beta of 0.56. SBA Communications Co. has a 12 month low of $185.23 and a 12 month high of $263.08. The firm’s 50-day moving average is $210.70 and its 200 day moving average is $222.84.

SBA Communications (NASDAQ:SBAC) last posted its quarterly earnings results on Monday, February 26th. The technology company reported $1.01 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.36). The company had revenue of $675.00 million during the quarter, compared to analysts’ expectations of $682.11 million. SBA Communications had a negative return on equity of 9.70% and a net margin of 18.51%. The company’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period in the prior year, the business earned $3.11 EPS. Sell-side analysts forecast that SBA Communications Co. will post 12.61 EPS for the current fiscal year.

SBA Communications Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were paid a $0.98 dividend. This represents a $3.92 annualized dividend and a yield of 1.98%. The ex-dividend date of this dividend was Wednesday, March 13th. This is an increase from SBA Communications’s previous quarterly dividend of $0.85. SBA Communications’s dividend payout ratio (DPR) is currently 85.03%.

Analyst Ratings Changes

SBAC has been the topic of several analyst reports. Barclays reduced their price objective on SBA Communications from $260.00 to $255.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 17th. Bank of America raised SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 price objective on the stock in a research note on Thursday, March 7th. Finally, BMO Capital Markets reduced their price objective on SBA Communications from $285.00 to $265.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 27th. One analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $268.00.

Insider Buying and Selling

In related news, Director Mary S. Chan sold 1,977 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $217.99, for a total value of $430,966.23. Following the transaction, the director now owns 4,622 shares of the company’s stock, valued at approximately $1,007,549.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.30% of the stock is currently owned by insiders.

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.