SBA Communications Co. (NASDAQ:SBAC) Stock Position Raised by Stevens Capital Management LP

Stevens Capital Management LP boosted its stake in SBA Communications Co. (NASDAQ:SBAC - Free Report) by 516.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,445 shares of the technology company's stock after purchasing an additional 7,913 shares during the period. SBA Communications makes up about 0.8% of Stevens Capital Management LP's investment portfolio, making the stock its 28th biggest holding. Stevens Capital Management LP's holdings in SBA Communications were worth $1,925,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Wealthfront Advisers LLC grew its holdings in SBA Communications by 23,553.0% during the 4th quarter. Wealthfront Advisers LLC now owns 1,126,828 shares of the technology company's stock valued at $229,648,000 after purchasing an additional 1,122,064 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of 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 valued at $213,353,000 after acquiring an additional 700,791 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of SBA Communications by 16.6% during the third quarter. JPMorgan Chase & Co. now owns 4,254,460 shares of the technology company's stock worth $1,024,049,000 after acquiring an additional 605,872 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of SBA Communications by 46.5% during the fourth quarter. Victory Capital Management Inc. now owns 1,781,231 shares of the technology company's stock worth $363,015,000 after acquiring an additional 565,137 shares during the last quarter. Finally, KBC Group NV lifted its stake 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 worth $83,562,000 after acquiring an additional 278,737 shares in the last quarter. Institutional investors and hedge funds own 97.35% of the company's stock.

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Insider Buying and Selling

In other news, VP Joshua Koenig sold 2,209 shares of the firm's 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 transaction, the vice president now owns 6,079 shares in the company, valued at approximately $1,362,790.22. This trade represents a 26.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 1.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on SBAC shares. Royal Bank of Canada restated an "outperform" rating and set a $255.00 price objective on shares of SBA Communications in a report on Monday, February 24th. JMP Securities assumed 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 for the company. BMO Capital Markets reaffirmed a "market perform" rating and issued a $230.00 price target (down from $260.00) on shares of SBA Communications in a report on Wednesday, December 18th. Wells Fargo & Company raised their price objective on shares of SBA Communications from $210.00 to $225.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 26th. Finally, Barclays upped their target price on shares of SBA Communications from $240.00 to $244.00 and gave the company an "overweight" rating in a research note on Friday, March 21st. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $252.85.

SBA Communications Stock Up 0.8 %

NASDAQ SBAC traded up $1.68 on Thursday, reaching $216.38. 558,115 shares of the stock traded hands, compared to its average volume of 845,040. SBA Communications Co. has a 12 month low of $183.64 and a 12 month high of $252.64. The company has a market cap of $23.29 billion, a price-to-earnings ratio of 34.13, a P/E/G ratio of 0.74 and a beta of 0.74. The firm's fifty day simple moving average is $211.04 and its 200 day simple moving average is $219.68.

SBA Communications Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be paid a dividend of $1.11 per share. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $4.44 annualized dividend and a yield of 2.05%. This is a boost from SBA Communications's previous quarterly dividend of $0.98. SBA Communications's dividend payout ratio (DPR) is currently 63.98%.

SBA Communications Company 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.