Thrivent Financial for Lutherans Has $157.57 Million Holdings in SBA Communications Co. (NASDAQ:SBAC)

Thrivent Financial for Lutherans cut its holdings in shares of SBA Communications Co. (NASDAQ:SBAC) by 33.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 802,690 shares of the technology company’s stock after selling 401,713 shares during the period. Thrivent Financial for Lutherans owned 0.75% of SBA Communications worth $157,568,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in SBAC. Ridgewood Investments LLC bought a new stake in shares of SBA Communications in the 2nd quarter valued at about $32,000. Family Firm Inc. bought a new stake in shares of SBA Communications in the 2nd quarter valued at about $36,000. Quarry LP increased its stake in shares of SBA Communications by 400.0% in the 4th quarter. Quarry LP now owns 165 shares of the technology company’s stock valued at $42,000 after acquiring an additional 132 shares during the last quarter. Global X Japan Co. Ltd. bought a new stake in shares of SBA Communications in the 2nd quarter valued at about $49,000. Finally, Versant Capital Management Inc increased its stake in shares of SBA Communications by 4,500.0% in the 2nd quarter. Versant Capital Management Inc now owns 276 shares of the technology company’s stock valued at $54,000 after acquiring an additional 270 shares during the last quarter. 97.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at SBA Communications

In other news, EVP Donald Day sold 1,500 shares of SBA Communications stock in a transaction on Friday, September 13th. The stock was sold at an average price of $242.86, for a total transaction of $364,290.00. Following the completion of the sale, the executive vice president now owns 4,998 shares of the company’s stock, valued at $1,213,814.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other SBA Communications news, Chairman Jeffrey Stoops sold 49,765 shares of SBA Communications stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $222.01, for a total value of $11,048,327.65. Following the transaction, the chairman now owns 109,583 shares in the company, valued at $24,328,521.83. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Donald Day sold 1,500 shares of SBA Communications stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $242.86, for a total value of $364,290.00. Following the completion of the transaction, the executive vice president now owns 4,998 shares in the company, valued at approximately $1,213,814.28. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 51,590 shares of company stock valued at $11,483,981. 1.30% of the stock is currently owned by corporate insiders.

SBA Communications Price Performance

Shares of SBA Communications stock opened at $239.47 on Friday. The business has a fifty day simple moving average of $224.12 and a two-hundred day simple moving average of $209.29. SBA Communications Co. has a 1 year low of $183.64 and a 1 year high of $258.76. The company has a market capitalization of $25.73 billion, a price-to-earnings ratio of 46.95, a P/E/G ratio of 0.75 and a beta of 0.67.

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

SBA Communications Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Thursday, August 22nd were issued a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date was Thursday, August 22nd. SBA Communications’s dividend payout ratio is currently 76.86%.

Analyst Ratings Changes

SBAC has been the subject of a number of recent analyst reports. KeyCorp upped their price target on SBA Communications from $227.00 to $230.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. The Goldman Sachs Group started coverage on SBA Communications in a research note on Monday, July 1st. They set a “neutral” rating and a $212.00 target price for the company. Wells Fargo & Company cut SBA Communications from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $230.00 to $220.00 in a research note on Monday, July 15th. Deutsche Bank Aktiengesellschaft increased their target price on SBA Communications from $230.00 to $240.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Finally, Royal Bank of Canada increased their target price on SBA Communications from $235.00 to $245.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $240.00.

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.