Nordea Investment Management AB Purchases 226,878 Shares of SBA Communications Co. (NASDAQ:SBAC)

Nordea Investment Management AB increased its stake in SBA Communications Co. (NASDAQ:SBAC - Free Report) by 49.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 687,496 shares of the technology company's stock after purchasing an additional 226,878 shares during the period. Nordea Investment Management AB owned 0.64% of SBA Communications worth $141,205,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Commonwealth Equity Services LLC boosted its holdings in shares of SBA Communications by 6.4% in the second quarter. Commonwealth Equity Services LLC now owns 10,419 shares of the technology company's stock valued at $2,045,000 after acquiring an additional 630 shares in the last quarter. TD Asset Management Inc grew its stake in SBA Communications by 1.8% during the 2nd quarter. TD Asset Management Inc now owns 47,143 shares of the technology company's stock valued at $9,254,000 after acquiring an additional 838 shares in the last quarter. National Bank of Canada FI increased its holdings in shares of SBA Communications by 23.9% in the 2nd quarter. National Bank of Canada FI now owns 29,596 shares of the technology company's stock valued at $5,617,000 after purchasing an additional 5,715 shares during the period. Candriam S.C.A. increased its stake in SBA Communications by 27.0% in the 2nd quarter. Candriam S.C.A. now owns 10,999 shares of the technology company's stock valued at $2,159,000 after buying an additional 2,341 shares during the period. Finally, Savant Capital LLC raised its holdings in shares of SBA Communications by 235.4% during the second quarter. Savant Capital LLC now owns 9,768 shares of the technology company's stock worth $1,918,000 after acquiring an additional 6,856 shares in the last quarter. Institutional investors and hedge funds own 97.35% of the company's stock.

Insider Buying and Selling at SBA Communications

In other news, EVP Mark R. Ciarfella sold 3,545 shares of SBA Communications stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $224.33, for a total transaction of $795,249.85. Following the transaction, the executive vice president now owns 33,588 shares in the company, valued at $7,534,796.04. The trade was a 9.55 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Donald Day sold 2,321 shares of the 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 sale, the executive vice president now directly owns 4,998 shares of the company's stock, valued at $1,016,743.14. This represents a 31.71 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on SBAC. Morgan Stanley lifted their target price on shares of SBA Communications from $232.00 to $252.00 and gave the company an "overweight" rating in a research note on Wednesday, September 18th. BMO Capital Markets reiterated a "market perform" rating and issued a $230.00 target price (down from $260.00) on shares of SBA Communications in a research note on Wednesday, December 18th. The Goldman Sachs Group lifted their price target on SBA Communications from $212.00 to $240.00 and gave the stock a "neutral" rating in a research report on Thursday, September 26th. KeyCorp upped their price objective on shares of SBA Communications from $230.00 to $280.00 and gave the company an "overweight" rating in a research report on Monday, October 14th. Finally, Wells Fargo & Company raised their target price on SBA Communications from $220.00 to $240.00 and gave the stock an "equal weight" rating in a research report on Thursday, October 10th. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $254.92.

SBA Communications Price Performance

Shares of SBAC stock traded down $3.04 during trading hours on Tuesday, hitting $195.89. 761,061 shares of the company's stock were exchanged, compared to its average volume of 652,915. SBA Communications Co. has a 52 week low of $183.64 and a 52 week high of $252.64. The stock's 50-day moving average is $215.72 and its 200-day moving average is $221.32. The stock has a market cap of $21.06 billion, a price-to-earnings ratio of 30.90, a price-to-earnings-growth ratio of 0.72 and a beta of 0.69.

SBA Communications (NASDAQ:SBAC - Get Free Report) last announced its quarterly earnings data on Monday, October 28th. The technology company reported $2.40 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 firm had revenue of $667.60 million during the quarter, compared to the consensus estimate of $669.29 million. During the same quarter in the previous year, the business posted $3.34 earnings per share. The firm's quarterly revenue was down 2.2% on a year-over-year basis. Equities research analysts forecast that SBA Communications Co. will post 12.56 earnings per share for the current fiscal year.

SBA Communications Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 14th were paid a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date was Thursday, November 14th. SBA Communications's dividend payout ratio (DPR) is currently 61.83%.

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.