Bessemer Group Inc. reduced its position in SBA Communications Co. (NASDAQ:SBAC - Free Report) by 0.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 607,987 shares of the technology company's stock after selling 2,386 shares during the period. Bessemer Group Inc. owned about 0.57% of SBA Communications worth $123,907,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Oak Thistle LLC grew its stake in SBA Communications by 76.1% in the 4th quarter. Oak Thistle LLC now owns 6,623 shares of the technology company's stock valued at $1,350,000 after acquiring an additional 2,863 shares during the last quarter. Czech National Bank raised its position in shares of SBA Communications by 6.5% during the 4th quarter. Czech National Bank now owns 23,314 shares of the technology company's stock worth $4,751,000 after purchasing an additional 1,421 shares during the last quarter. First Hawaiian Bank lifted its stake in SBA Communications by 91.0% in the 4th quarter. First Hawaiian Bank now owns 12,377 shares of the technology company's stock valued at $2,522,000 after buying an additional 5,897 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in SBA Communications by 3.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,308,511 shares of the technology company's stock valued at $266,675,000 after buying an additional 38,725 shares during the last quarter. Finally, Nordea Investment Management AB increased its position in SBA Communications by 49.3% during the fourth quarter. Nordea Investment Management AB now owns 687,496 shares of the technology company's stock worth $141,205,000 after buying an additional 226,878 shares in the last quarter. 97.35% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling
In related news, VP Joshua Koenig sold 2,209 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $224.18, for a total transaction of $495,213.62. Following the sale, the vice president now owns 6,079 shares in the company, valued at $1,362,790.22. This represents a 26.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.30% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
A number of analysts recently commented on the company. Citizens Jmp upgraded SBA Communications to a "strong-buy" rating in a research report on Monday, January 27th. Royal Bank of Canada reissued an "outperform" rating and issued a $255.00 price objective on shares of SBA Communications in a research report on Monday, February 24th. Wells Fargo & Company raised their target price on shares of SBA Communications from $210.00 to $225.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 26th. Barclays boosted their price target on SBA Communications from $240.00 to $244.00 and gave the company an "overweight" rating in a report on Friday, March 21st. Finally, Morgan Stanley began coverage on SBA Communications in a report on Tuesday, April 1st. They set an "equal weight" rating and a $240.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, SBA Communications has a consensus rating of "Moderate Buy" and a consensus target price of $251.92.
Get Our Latest Report on SBAC
SBA Communications Stock Performance
Shares of SBAC stock traded up $2.04 on Tuesday, hitting $226.77. The stock had a trading volume of 241,131 shares, compared to its average volume of 890,802. SBA Communications Co. has a 52-week low of $183.64 and a 52-week high of $252.64. The firm has a market capitalization of $24.40 billion, a price-to-earnings ratio of 35.77, a P/E/G ratio of 0.74 and a beta of 0.83. The stock's 50 day moving average is $215.66 and its 200-day moving average is $217.21.
SBA Communications Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were paid a dividend of $1.11 per share. This represents a $4.44 dividend on an annualized basis and a yield of 1.96%. This is an increase from SBA Communications's previous quarterly dividend of $0.98. The ex-dividend date was Thursday, March 13th. SBA Communications's dividend payout ratio is 63.98%.
About SBA Communications
(
Free Report)
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.
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