Vanguard Group Inc. Has $3.55 Billion Holdings in SBA Communications Co. (NASDAQ:SBAC)

Vanguard Group Inc. lifted its position in SBA Communications Co. (NASDAQ:SBAC - Free Report) by 0.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 17,398,651 shares of the technology company's stock after purchasing an additional 3,084 shares during the quarter. Vanguard Group Inc. owned 16.18% of SBA Communications worth $3,545,845,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Oak Thistle LLC grew its stake in SBA Communications by 76.1% during the fourth quarter. Oak Thistle LLC now owns 6,623 shares of the technology company's stock worth $1,350,000 after buying an additional 2,863 shares during the last quarter. Czech National Bank boosted its holdings in shares of SBA Communications by 6.5% in the 4th quarter. Czech National Bank now owns 23,314 shares of the technology company's stock worth $4,751,000 after acquiring an additional 1,421 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec grew its position in SBA Communications by 14,529.1% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 251,328 shares of the technology company's stock worth $60,495,000 after acquiring an additional 249,610 shares during the last quarter. First Hawaiian Bank increased its holdings in SBA Communications by 91.0% during the 4th quarter. First Hawaiian Bank now owns 12,377 shares of the technology company's stock valued at $2,522,000 after purchasing an additional 5,897 shares in the last quarter. Finally, Bank of Montreal Can raised its position in SBA Communications by 135.5% in the 3rd quarter. Bank of Montreal Can now owns 420,514 shares of the technology company's stock valued at $100,351,000 after purchasing an additional 241,916 shares during the last quarter. Institutional investors and hedge funds own 97.35% of the company's stock.

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SBA Communications Stock Up 0.2 %

NASDAQ SBAC traded up $0.46 on Friday, reaching $216.84. The company had a trading volume of 533,757 shares, compared to its average volume of 871,640. 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 $211.31 and its 200-day moving average is $219.52. The stock has a market cap of $23.34 billion, a price-to-earnings ratio of 34.20, a PEG ratio of 0.74 and a beta of 0.74.

SBA Communications Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were paid a $1.11 dividend. The ex-dividend date of this dividend was Thursday, March 13th. This is a boost from SBA Communications's previous quarterly dividend of $0.98. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.05%. SBA Communications's dividend payout ratio is 63.98%.

Insider Activity at SBA Communications

In related news, VP Joshua Koenig sold 2,209 shares of the business's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $224.18, for a total value of $495,213.62. Following the completion of the transaction, the vice president now directly owns 6,079 shares in the company, valued at approximately $1,362,790.22. The trade was a 26.65 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on SBAC. Wells Fargo & Company increased their target price on SBA Communications from $210.00 to $225.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 26th. Citizens Jmp raised shares of SBA Communications to a "strong-buy" rating in a report on Monday, January 27th. 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. BMO Capital Markets reiterated a "market perform" rating and set a $230.00 target price (down from $260.00) on shares of SBA Communications in a research report on Wednesday, December 18th. Finally, StockNews.com raised shares of SBA Communications from a "hold" rating to a "buy" rating in a report on Tuesday. Four analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $252.85.

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.