Banque Cantonale Vaudoise Has $3.41 Million Position in American Tower Co. (NYSE:AMT)

Banque Cantonale Vaudoise grew its holdings in shares of American Tower Co. (NYSE:AMT) by 241.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,520 shares of the real estate investment trust’s stock after acquiring an additional 12,384 shares during the period. Banque Cantonale Vaudoise’s holdings in American Tower were worth $3,406,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Northwest Investment Counselors LLC acquired a new stake in American Tower during the 1st quarter worth about $25,000. Cultivar Capital Inc. acquired a new stake in shares of American Tower in the 2nd quarter valued at about $25,000. Gold Investment Management Ltd. acquired a new stake in shares of American Tower in the 4th quarter valued at about $28,000. Hobbs Group Advisors LLC acquired a new stake in shares of American Tower in the 2nd quarter valued at about $29,000. Finally, SOA Wealth Advisors LLC. acquired a new stake in shares of American Tower in the 1st quarter valued at about $30,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. TD Cowen raised their price target on shares of American Tower from $226.00 to $239.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Wells Fargo & Company raised their price target on shares of American Tower from $225.00 to $245.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. StockNews.com raised shares of American Tower from a “hold” rating to a “buy” rating in a research report on Wednesday, July 31st. The Goldman Sachs Group assumed coverage on shares of American Tower in a research report on Monday, July 1st. They issued a “buy” rating and a $230.00 price target on the stock. Finally, JPMorgan Chase & Co. lifted their target price on shares of American Tower from $230.00 to $240.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $231.14.

American Tower Stock Performance

Shares of NYSE:AMT traded up $0.54 during mid-day trading on Friday, reaching $224.06. The company had a trading volume of 1,796,764 shares, compared to its average volume of 2,323,528. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 3.42. The firm has a market cap of $104.63 billion, a price-to-earnings ratio of 50.69, a PEG ratio of 1.52 and a beta of 0.81. The company’s 50-day moving average price is $212.85 and its 200-day moving average price is $197.82. American Tower Co. has a one year low of $154.58 and a one year high of $236.13.

American Tower (NYSE:AMT) last posted its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $1.92 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.52). The company had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.82 billion. American Tower had a return on equity of 23.06% and a net margin of 21.95%. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period last year, the firm posted $2.46 EPS. As a group, equities research analysts anticipate that American Tower Co. will post 10.04 EPS for the current fiscal year.

Insider Activity at American Tower

In related news, EVP Sanjay Goel sold 3,504 shares of American Tower stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $200.36, for a total value of $702,061.44. Following the completion of the transaction, the executive vice president now directly owns 28,413 shares in the company, valued at approximately $5,692,828.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Sanjay Goel sold 3,504 shares of American Tower stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $200.36, for a total value of $702,061.44. Following the completion of the transaction, the executive vice president now directly owns 28,413 shares in the company, valued at approximately $5,692,828.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Olivier Puech sold 10,005 shares of American Tower stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $233.27, for a total transaction of $2,333,866.35. Following the completion of the transaction, the executive vice president now owns 51,746 shares of the company’s stock, valued at $12,070,789.42. The disclosure for this sale can be found here. In the last ninety days, insiders sold 37,227 shares of company stock worth $8,497,458. Corporate insiders own 0.18% of the company’s stock.

American Tower Company Profile

American Tower, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of over 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.