SBA Communications Co. (NASDAQ:SBAC) Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. grew its position in SBA Communications Co. (NASDAQ:SBAC - Free Report) by 16.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,254,460 shares of the technology company's stock after acquiring an additional 605,872 shares during the quarter. JPMorgan Chase & Co. owned 3.96% of SBA Communications worth $1,024,049,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of SBA Communications by 14,529.1% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 251,328 shares of the technology company's stock valued at $60,495,000 after acquiring an additional 249,610 shares during the last quarter. Bank of Montreal Can boosted its holdings in shares of SBA Communications by 135.5% in the 3rd quarter. Bank of Montreal Can now owns 420,514 shares of the technology company's stock worth $100,351,000 after purchasing an additional 241,916 shares during the period. Public Sector Pension Investment Board raised its holdings in SBA Communications by 17.2% during the 2nd quarter. Public Sector Pension Investment Board now owns 14,912 shares of the technology company's stock valued at $2,927,000 after buying an additional 2,186 shares during the period. Farther Finance Advisors LLC lifted its position in SBA Communications by 32.5% in the third quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company's stock worth $52,000 after buying an additional 53 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its stake in SBA Communications by 384.3% during the third quarter. Daiwa Securities Group Inc. now owns 106,531 shares of the technology company's stock worth $25,642,000 after buying an additional 84,536 shares during the period. 97.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on SBAC. StockNews.com raised shares of SBA Communications from a "hold" rating to a "buy" rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. boosted their target price on SBA Communications from $228.00 to $250.00 and gave the company a "neutral" rating in a research report on Monday, September 23rd. Wells Fargo & Company raised their price target on SBA Communications from $220.00 to $240.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 10th. Morgan Stanley upped their price objective on SBA Communications from $232.00 to $252.00 and gave the company an "overweight" rating in a research report on Wednesday, September 18th. Finally, Raymond James increased their target price on SBA Communications from $285.00 to $300.00 and gave the stock a "strong-buy" rating in a research note on Tuesday, October 29th. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $254.92.

Insider Buying and Selling

In related news, EVP Donald Day sold 2,321 shares of the business's stock in a transaction on Friday, December 20th. The stock was sold at an average price of $203.43, for a total transaction of $472,161.03. Following the transaction, the executive vice president now directly owns 4,998 shares in the company, valued at $1,016,743.14. The trade was a 31.71 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Mark R. Ciarfella sold 3,545 shares of the stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $224.33, for a total value of $795,249.85. Following the completion of the sale, the executive vice president now owns 33,588 shares of the company's stock, valued at approximately $7,534,796.04. This trade represents a 9.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by company insiders.

SBA Communications Stock Down 0.4 %

SBAC stock traded down $0.80 during trading on Friday, hitting $203.20. 653,458 shares of the company's stock traded hands, compared to its average volume of 919,819. The firm has a market capitalization of $21.85 billion, a P/E ratio of 32.05, a PEG ratio of 0.72 and a beta of 0.67. SBA Communications Co. has a 1 year low of $183.64 and a 1 year high of $256.29. The business has a fifty day simple moving average of $221.33 and a two-hundred day simple moving average of $220.75.

SBA Communications (NASDAQ:SBAC - Get Free Report) last announced its quarterly earnings results on Monday, October 28th. The technology company reported $2.40 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.17 by ($0.77). SBA Communications had a net margin of 25.76% and a negative return on equity of 13.13%. The company had revenue of $667.60 million during the quarter, compared to analysts' expectations of $669.29 million. During the same quarter in the prior year, the business posted $3.34 earnings per share. The company's revenue was down 2.2% compared to the same quarter last year. On average, equities research analysts predict that SBA Communications Co. will post 12.56 EPS for the current fiscal year.

SBA Communications Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 14th were given a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date was Thursday, November 14th. SBA Communications's payout ratio is currently 61.83%.

About SBA Communications

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.