Envestnet Portfolio Solutions Inc. Grows Stock Holdings in SBA Communications Corporation $SBAC

Envestnet Portfolio Solutions Inc. lifted its position in shares of SBA Communications Corporation (NASDAQ:SBAC) by 6.5% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,156 shares of the technology company’s stock after buying an additional 192 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in SBA Communications were worth $741,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Stone House Investment Management LLC purchased a new position in shares of SBA Communications during the 1st quarter valued at $33,000. Allworth Financial LP lifted its stake in shares of SBA Communications by 62.0% during the 1st quarter. Allworth Financial LP now owns 162 shares of the technology company’s stock valued at $36,000 after buying an additional 62 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in shares of SBA Communications by 105.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock valued at $36,000 after buying an additional 84 shares in the last quarter. Summit Securities Group LLC purchased a new position in shares of SBA Communications during the 1st quarter valued at $47,000. Finally, Zions Bancorporation National Association UT purchased a new position in shares of SBA Communications during the 1st quarter valued at $47,000. Hedge funds and other institutional investors own 97.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SBAC. Barclays reduced their price target on shares of SBA Communications from $257.00 to $226.00 and set an “overweight” rating on the stock in a report on Monday, September 15th. The Goldman Sachs Group reduced their price target on shares of SBA Communications from $250.00 to $220.00 and set a “neutral” rating on the stock in a report on Wednesday, October 1st. Weiss Ratings reiterated a “hold (c-)” rating on shares of SBA Communications in a report on Tuesday, October 14th. Wells Fargo & Company reduced their price target on shares of SBA Communications from $235.00 to $215.00 and set an “equal weight” rating on the stock in a report on Monday. Finally, Bank of America downgraded shares of SBA Communications from a “buy” rating to a “neutral” rating and reduced their price target for the company from $260.00 to $230.00 in a report on Wednesday, August 27th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $242.40.

SBA Communications Stock Up 0.8%

SBA Communications stock opened at $197.76 on Tuesday. The company’s 50-day moving average price is $201.18 and its 200-day moving average price is $219.50. SBA Communications Corporation has a twelve month low of $185.45 and a twelve month high of $248.62. The company has a market cap of $21.24 billion, a PE ratio of 25.13, a price-to-earnings-growth ratio of 2.06 and a beta of 0.82.

SBA Communications (NASDAQ:SBAC) last posted its earnings results on Monday, August 4th. The technology company reported $3.17 earnings per share for the quarter, topping analysts’ consensus estimates of $3.10 by $0.07. SBA Communications had a net margin of 31.19% and a negative return on equity of 16.83%. The firm had revenue of $698.98 million for the quarter, compared to the consensus estimate of $670.73 million. During the same period in the previous year, the firm posted $3.29 EPS. The business’s quarterly revenue was up 5.8% on a year-over-year basis. SBA Communications has set its FY 2025 guidance at EPS. As a group, sell-side analysts expect that SBA Communications Corporation will post 12.57 earnings per share for the current fiscal year.

SBA Communications Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, August 21st were issued a dividend of $1.11 per share. This represents a $4.44 annualized dividend and a yield of 2.2%. The ex-dividend date was Thursday, August 21st. SBA Communications’s dividend payout ratio is presently 56.42%.

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.