SBA Communications Co. (NASDAQ:SBAC) Holdings Lifted by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. raised its stake in shares of SBA Communications Co. (NASDAQ:SBAC - Free Report) by 36.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,731 shares of the technology company's stock after purchasing an additional 1,527 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in SBA Communications were worth $1,168,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Exchange Traded Concepts LLC grew its stake in SBA Communications by 15.1% during the 4th quarter. Exchange Traded Concepts LLC now owns 382 shares of the technology company's stock valued at $78,000 after acquiring an additional 50 shares in the last quarter. Versant Capital Management Inc increased its holdings in shares of SBA Communications by 17.3% in the fourth quarter. Versant Capital Management Inc now owns 360 shares of the technology company's stock valued at $73,000 after purchasing an additional 53 shares during the last quarter. Auxano Advisors LLC lifted its position in SBA Communications by 2.3% during the fourth quarter. Auxano Advisors LLC now owns 2,431 shares of the technology company's stock worth $495,000 after buying an additional 54 shares in the last quarter. Lake Street Advisors Group LLC boosted its stake in SBA Communications by 5.8% during the fourth quarter. Lake Street Advisors Group LLC now owns 1,105 shares of the technology company's stock worth $225,000 after buying an additional 61 shares during the last quarter. Finally, Torray Investment Partners LLC grew its holdings in SBA Communications by 0.7% in the 4th quarter. Torray Investment Partners LLC now owns 9,788 shares of the technology company's stock valued at $1,995,000 after buying an additional 67 shares in the last quarter. Institutional investors and hedge funds own 97.35% of the company's stock.

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SBA Communications Trading Up 0.2 %

Shares of NASDAQ:SBAC traded up $0.39 during midday trading on Wednesday, hitting $214.70. 394,483 shares of the stock were exchanged, compared to its average volume of 846,089. SBA Communications Co. has a twelve month low of $183.64 and a twelve month high of $252.64. The company has a 50 day moving average price of $210.45 and a 200-day moving average price of $219.73. The stock has a market cap of $23.10 billion, a P/E ratio of 33.86, a PEG ratio of 0.74 and a beta of 0.74.

SBA Communications Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be given a dividend of $1.11 per share. The ex-dividend date of this dividend is Thursday, March 13th. This is an increase from SBA Communications's previous quarterly dividend of $0.98. This represents a $4.44 annualized dividend and a yield of 2.07%. SBA Communications's dividend payout ratio is 63.98%.

Insider Buying and Selling

In other SBA Communications news, VP Joshua Koenig sold 2,209 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $224.18, for a total value of $495,213.62. Following the completion of the sale, the vice president now owns 6,079 shares of the company's stock, valued at $1,362,790.22. This trade represents a 26.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.30% of the company's stock.

Analyst Ratings Changes

SBAC has been the topic of several analyst reports. Citizens Jmp upgraded SBA Communications to a "strong-buy" rating in a report on Monday, January 27th. StockNews.com raised shares of SBA Communications from a "hold" rating to a "buy" rating in a research note on Tuesday. JMP Securities began coverage on shares of SBA Communications in a report on Monday, January 27th. They set an "outperform" rating and a $250.00 price target for the company. Wells Fargo & Company increased their price objective on SBA Communications from $210.00 to $225.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 26th. Finally, BMO Capital Markets reaffirmed a "market perform" rating and issued a $230.00 price target (down previously from $260.00) on shares of SBA Communications in a research note on Wednesday, December 18th. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, SBA Communications has an average rating of "Moderate Buy" and a consensus price target of $252.85.

SBA Communications 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.