Moran Wealth Management LLC Purchases Shares of 67,254 SBA Communications Co. (NASDAQ:SBAC)

Moran Wealth Management LLC purchased a new stake in shares of SBA Communications Co. (NASDAQ:SBAC - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 67,254 shares of the technology company's stock, valued at approximately $13,706,000. Moran Wealth Management LLC owned approximately 0.06% of SBA Communications at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Victory Capital Management Inc. grew its position in shares of SBA Communications by 2,821.5% during the 3rd quarter. Victory Capital Management Inc. now owns 1,216,094 shares of the technology company's stock valued at $292,714,000 after acquiring an additional 1,174,469 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in SBA Communications by 377.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 886,384 shares of the technology company's stock worth $213,353,000 after purchasing an additional 700,791 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in SBA Communications by 16.6% in the third quarter. JPMorgan Chase & Co. now owns 4,254,460 shares of the technology company's stock valued at $1,024,049,000 after purchasing an additional 605,872 shares during the period. KBC Group NV increased its position in shares of SBA Communications by 212.3% in the fourth quarter. KBC Group NV now owns 410,023 shares of the technology company's stock valued at $83,562,000 after buying an additional 278,737 shares in the last quarter. Finally, Barclays PLC raised its stake in shares of SBA Communications by 71.0% during the 3rd quarter. Barclays PLC now owns 658,029 shares of the technology company's stock worth $158,386,000 after buying an additional 273,237 shares during the period. 97.35% of the stock is owned by institutional investors and hedge funds.

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Insider Transactions at SBA Communications

In other SBA Communications news, VP Joshua Koenig sold 2,209 shares of SBA Communications 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 completion of the sale, the vice president now directly owns 6,079 shares in the company, 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 at the SEC website. Also, EVP Donald Day sold 2,321 shares of the business's stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $203.43, for a total transaction of $472,161.03. Following the completion of the sale, the executive vice president now directly owns 4,998 shares in the company, valued at $1,016,743.14. This trade represents a 31.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.30% of the company's stock.

SBA Communications Price Performance

Shares of SBAC traded down $1.92 during mid-day trading on Thursday, reaching $214.56. The stock had a trading volume of 939,297 shares, compared to its average volume of 848,604. SBA Communications Co. has a 52-week low of $183.64 and a 52-week high of $252.64. The firm has a market cap of $23.09 billion, a price-to-earnings ratio of 33.84, a P/E/G ratio of 0.74 and a beta of 0.74. The business's fifty day moving average is $206.59 and its 200 day moving average is $220.49.

SBA Communications Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be paid a $1.11 dividend. This is a boost from SBA Communications's previous quarterly dividend of $0.98. The ex-dividend date is Thursday, March 13th. This represents a $4.44 annualized dividend and a dividend yield of 2.07%. SBA Communications's dividend payout ratio is 63.98%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. JMP Securities initiated coverage on shares of SBA Communications in a research note on Monday, January 27th. They issued an "outperform" rating and a $250.00 price target on the stock. StockNews.com cut shares of SBA Communications from a "buy" rating to a "hold" rating in a research note on Thursday, February 20th. Wells Fargo & Company raised their price target on shares of SBA Communications from $210.00 to $225.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 26th. Barclays lowered their price objective on SBA Communications from $254.00 to $240.00 and set an "overweight" rating on the stock in a report on Thursday, February 20th. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $255.00 target price on shares of SBA Communications in a report on Monday, February 24th. Five analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $252.54.

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.