Dudley & Shanley Inc. Purchases 64,400 Shares of American Tower Corporation $AMT

Key Points

• Dudley & Shanley Inc. acquired 64,400 shares of American Tower in the third quarter, valued at approximately $10.5 million, making AMT about 1.7% of its portfolio. Institutional investors collectively own 92.69% of the company.
• American Tower reported quarterly EPS of $2.71, beating analyst estimates of $1.57, while revenue rose 4.6% year over year to $2.75 billion. The company also declared a quarterly dividend of $1.79, equivalent to a 4.4% annualized yield.
• AMT shares recently traded at $164.51, near their 12-month low of $160.06. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $215.48.

Dudley & Shanley Inc. acquired a new position in American Tower Corporation (NYSE:AMT - Free Report) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 64,400 shares of the real estate investment trust's stock, valued at approximately $10,542,000. American Tower accounts for about 1.7% of Dudley & Shanley Inc.'s portfolio, making the stock its 24th largest holding.

Several other institutional investors and hedge funds have also recently modified their holdings of AMT. BlackRock Inc. acquired a new position in American Tower in the 2nd quarter worth about $7,490,943,000. J. Stern & Co. LLP increased its position in shares of American Tower by 28,121.1% in the fourth quarter. J. Stern & Co. LLP now owns 37,686,978 shares of the real estate investment trust's stock valued at $6,616,703,000 after buying an additional 37,553,436 shares in the last quarter. State Street Corp raised its stake in shares of American Tower by 2.9% during the 2nd quarter. State Street Corp now owns 22,066,202 shares of the real estate investment trust's stock worth $3,647,491,000 after buying an additional 631,593 shares during the period. Lazard Asset Management LLC lifted its position in shares of American Tower by 20.4% during the 1st quarter. Lazard Asset Management LLC now owns 7,325,943 shares of the real estate investment trust's stock valued at $1,264,311,000 after buying an additional 1,240,780 shares in the last quarter. Finally, Invesco Ltd. grew its stake in American Tower by 0.9% in the 4th quarter. Invesco Ltd. now owns 6,948,190 shares of the real estate investment trust's stock valued at $1,219,894,000 after acquiring an additional 59,557 shares during the period. Hedge funds and other institutional investors own 92.69% of the company's stock.

American Tower Price Performance

Shares of NYSE:AMT traded up $2.25 during midday trading on Tuesday, hitting $164.51. The company's stock had a trading volume of 638,037 shares, compared to its average volume of 3,036,491. The business's 50 day simple moving average is $173.02 and its 200 day simple moving average is $175.22. The company has a debt-to-equity ratio of 3.12, a quick ratio of 0.52 and a current ratio of 0.52. The company has a market cap of $76.66 billion, a P/E ratio of 22.63, a price-to-earnings-growth ratio of 2.60 and a beta of 0.88. American Tower Corporation has a 12-month low of $160.06 and a 12-month high of $196.08.

American Tower (NYSE:AMT - Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The real estate investment trust reported $2.71 earnings per share for the quarter, topping analysts' consensus estimates of $1.57 by $1.14. The firm had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.70 billion. American Tower had a net margin of 31.08% and a return on equity of 32.76%. American Tower's quarterly revenue was up 4.6% on a year-over-year basis. During the same period in the previous year, the business posted $2.60 earnings per share. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. On average, analysts forecast that American Tower Corporation will post 10.8 EPS for the current year.

American Tower Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 20th. Investors of record on Wednesday, September 30th will be issued a $1.79 dividend. This represents a $7.16 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend is Wednesday, September 30th. American Tower's dividend payout ratio (DPR) is currently 98.49%.

Insider Buying and Selling

In related news, CFO Robert Joseph Meyer sold 5,000 shares of American Tower stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $178.89, for a total transaction of $894,450.00. Following the transaction, the chief financial officer owned 21,428 shares in the company, valued at approximately $3,833,254.92. This trade represents a 18.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Rajesh Kalathur bought 2,829 shares of the company's stock in a transaction on Friday, August 21st. The stock was bought at an average price of $177.00 per share, with a total value of $500,733.00. Following the completion of the acquisition, the director owned 7,765 shares in the company, valued at $1,374,405. This represents a 57.31% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders have sold 6,791 shares of company stock worth $1,204,091. 0.08% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on AMT shares. Jefferies Financial Group reduced their price objective on shares of American Tower from $210.00 to $201.00 and set a "buy" rating for the company in a research report on Wednesday, July 15th. Royal Bank Of Canada raised shares of American Tower from a "sector perform" rating to an "outperform" rating and boosted their target price for the stock from $195.00 to $205.00 in a research note on Friday, June 26th. Truist Financial reaffirmed a "buy" rating and issued a $207.00 price target (down from $208.00) on shares of American Tower in a research note on Wednesday, August 12th. The Goldman Sachs Group set a $210.00 price objective on American Tower in a research note on Tuesday, July 28th. Finally, TD Cowen raised their target price on American Tower from $225.00 to $227.00 and gave the company a "buy" rating in a research report on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, American Tower has a consensus rating of "Moderate Buy" and a consensus price target of $215.48.

American Tower Company Profile

American Tower Corporation NYSE: AMT is a global real estate investment trust that owns, operates and develops communications infrastructure. Its portfolio includes wireless and broadcast towers, rooftop sites, distributed antenna systems and other facilities that support wireless communications, television and radio broadcasting, government communications and other connectivity services.

The company leases space on its communications sites to wireless carriers, broadcasters, government agencies and other customers.

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