SBA Communications Co. (NASDAQ:SBAC) Holdings Cut by Amundi

Amundi trimmed its stake in shares of SBA Communications Co. (NASDAQ:SBAC - Free Report) by 19.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 805,575 shares of the technology company's stock after selling 200,121 shares during the quarter. Amundi owned about 0.75% of SBA Communications worth $162,655,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. State Street Corp increased its stake in SBA Communications by 1.8% in the 3rd quarter. State Street Corp now owns 4,643,527 shares of the technology company's stock valued at $1,117,697,000 after buying an additional 81,566 shares during the period. JPMorgan Chase & Co. lifted its position 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. Victory Capital Management Inc. increased its position in SBA Communications by 46.5% during the 4th quarter. Victory Capital Management Inc. now owns 1,781,231 shares of the technology company's stock worth $363,015,000 after purchasing an additional 565,137 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of SBA Communications by 3.0% in 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 period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of SBA Communications by 377.6% in 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 valued at $213,353,000 after buying an additional 700,791 shares in the last quarter. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

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SBA Communications Stock Down 1.7 %

SBA Communications stock traded down $3.90 during mid-day trading on Tuesday, hitting $221.02. 919,599 shares of the company's stock traded hands, compared to its average volume of 828,405. The firm has a 50 day moving average price of $206.00 and a 200 day moving average price of $220.56. The company has a market cap of $23.76 billion, a PE ratio of 34.86, a price-to-earnings-growth ratio of 0.74 and a beta of 0.74. SBA Communications Co. has a one year low of $183.64 and a one year high of $252.64.

SBA Communications Increases Dividend

The firm also recently disclosed 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. The ex-dividend date is Thursday, March 13th. This represents a $4.44 annualized dividend and a dividend yield of 2.01%. This is a boost from SBA Communications's previous quarterly dividend of $0.98. SBA Communications's payout ratio is currently 63.98%.

Insider Buying and Selling

In other news, 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 value of $472,161.03. Following the completion of the sale, the executive vice president now owns 4,998 shares in the company, valued at $1,016,743.14. This represents a 31.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Joshua Koenig sold 2,209 shares of SBA Communications stock in a transaction 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 transaction, 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 position. The disclosure for this sale can be found here. Insiders own 1.30% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented on the company. Wells Fargo & Company boosted their target price 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. StockNews.com lowered shares of SBA Communications from a "buy" rating to a "hold" rating in a research report on Thursday, February 20th. 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 target price for the company. Citizens Jmp upgraded SBA Communications to a "strong-buy" rating in a report on Monday, January 27th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $255.00 target price on shares of SBA Communications in a research note on Monday, February 24th. Five investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, SBA Communications presently has a consensus rating of "Moderate Buy" and a consensus target price 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.