Hartford Investment Management Co. grew its holdings in shares of SBA Communications Co. (NASDAQ:SBAC) by 57.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 71,128 shares of the technology company’s stock after acquiring an additional 25,940 shares during the quarter. Hartford Investment Management Co. owned 0.06% of SBA Communications worth $10,246,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. raised its stake in shares of SBA Communications by 2.8% during the second quarter. Vanguard Group Inc. now owns 9,869,843 shares of the technology company’s stock worth $1,331,442,000 after acquiring an additional 272,381 shares in the last quarter. William Blair Investment Management LLC raised its stake in shares of SBA Communications by 8.7% during the second quarter. William Blair Investment Management LLC now owns 2,682,091 shares of the technology company’s stock worth $361,814,000 after acquiring an additional 215,709 shares in the last quarter. Iridian Asset Management LLC CT raised its stake in shares of SBA Communications by 88.1% during the second quarter. Iridian Asset Management LLC CT now owns 2,641,198 shares of the technology company’s stock worth $356,298,000 after acquiring an additional 1,237,008 shares in the last quarter. American Century Companies Inc. raised its stake in shares of SBA Communications by 14.4% during the third quarter. American Century Companies Inc. now owns 2,552,824 shares of the technology company’s stock worth $367,734,000 after acquiring an additional 322,085 shares in the last quarter. Finally, Jennison Associates LLC raised its stake in shares of SBA Communications by 11.6% during the second quarter. Jennison Associates LLC now owns 2,150,624 shares of the technology company’s stock worth $290,119,000 after acquiring an additional 223,805 shares in the last quarter. 96.14% of the stock is currently owned by hedge funds and other institutional investors.

SBA Communications Co. (NASDAQ:SBAC) opened at $169.76 on Thursday. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of -3.63. SBA Communications Co. has a one year low of $95.76 and a one year high of $173.97. The company has a market cap of $20,227.80, a price-to-earnings ratio of 215.11 and a beta of 0.75.

SBA Communications (NASDAQ:SBAC) last issued its earnings results on Monday, October 30th. The technology company reported $1.75 EPS for the quarter, topping the consensus estimate of $0.25 by $1.50. SBA Communications had a net margin of 5.95% and a negative return on equity of 4.71%. The company had revenue of $433.90 million for the quarter, compared to the consensus estimate of $431.42 million. During the same period in the previous year, the firm earned ($0.12) earnings per share. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. analysts anticipate that SBA Communications Co. will post 0.96 EPS for the current year.

Several research firms have commented on SBAC. BidaskClub raised shares of SBA Communications from a “hold” rating to a “buy” rating in a research note on Tuesday, August 8th. KeyCorp reissued an “overweight” rating and set a $192.00 price target (up from $179.00) on shares of SBA Communications in a research note on Monday. Royal Bank Of Canada reissued a “buy” rating on shares of SBA Communications in a research note on Wednesday, August 2nd. Zacks Investment Research downgraded shares of SBA Communications from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. Finally, Cowen reaffirmed a “buy” rating and issued a $147.00 target price on shares of SBA Communications in a research note on Tuesday, October 17th. Five equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $153.20.

In other SBA Communications news, Director George R. Krouse, Jr. sold 1,999 shares of the business’s stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $169.51, for a total transaction of $338,850.49. Following the transaction, the director now directly owns 11,999 shares of the company’s stock, valued at approximately $2,033,950.49. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.40% of the stock is owned by insiders.

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SBA Communications Profile

SBA Communications Corporation is an independent owner and operator of wireless communications tower structures, rooftops and other structures that support antennas used for wireless communications. The Company’s operating segments include site leasing and site development. The site leasing business includes segments, domestic site leasing and international site leasing.

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

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