Blair William & Co. IL Boosts Stock Holdings in SBA Communications Co. (NASDAQ:SBAC)

Blair William & Co. IL increased its position in SBA Communications Co. (NASDAQ:SBAC) by 4.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 77,481 shares of the technology company’s stock after acquiring an additional 3,229 shares during the period. Blair William & Co. IL’s holdings in SBA Communications were worth $15,791,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SBAC. Cerity Partners LLC boosted its position in shares of SBA Communications by 15.6% during the third quarter. Cerity Partners LLC now owns 17,597 shares of the technology company’s stock valued at $4,236,000 after buying an additional 2,376 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in SBA Communications by 1.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 87,054 shares of the technology company’s stock valued at $20,954,000 after acquiring an additional 1,539 shares during the period. FMR LLC boosted its holdings in shares of SBA Communications by 18.1% during the 3rd quarter. FMR LLC now owns 387,967 shares of the technology company’s stock valued at $93,384,000 after acquiring an additional 59,368 shares during the last quarter. Brooklyn Investment Group bought a new stake in shares of SBA Communications in the third quarter worth approximately $92,000. Finally, BNP Paribas Financial Markets raised its holdings in shares of SBA Communications by 16.0% during the third quarter. BNP Paribas Financial Markets now owns 170,278 shares of the technology company’s stock valued at $40,986,000 after purchasing an additional 23,473 shares during the last quarter. 97.35% of the stock is owned by institutional investors.

Insider Transactions at SBA Communications

In other SBA Communications news, VP Joshua Koenig sold 2,209 shares of the company’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 $1,362,790.22. This represents a 26.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 1.30% of the company’s stock.

SBA Communications Price Performance

Shares of SBAC stock opened at $216.84 on Friday. SBA Communications Co. has a one year low of $183.64 and a one year high of $252.64. The company’s fifty day moving average price is $211.31 and its 200-day moving average price is $219.52. The company has a market capitalization 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 firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were given a $1.11 dividend. This represents a $4.44 annualized dividend and a dividend yield of 2.05%. This is an increase from SBA Communications’s previous quarterly dividend of $0.98. The ex-dividend date of this dividend was Thursday, March 13th. SBA Communications’s payout ratio is presently 63.98%.

Analysts Set New Price Targets

SBAC has been the topic of several research reports. Wells Fargo & Company raised their target price 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. StockNews.com upgraded SBA Communications from a “hold” rating to a “buy” rating in a research report on Tuesday. Citizens Jmp raised SBA Communications to a “strong-buy” rating in a research report on Monday, January 27th. Barclays upped their price target on shares of SBA Communications from $240.00 to $244.00 and gave the company an “overweight” rating in a research report on Friday, March 21st. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $255.00 price objective on shares of SBA Communications in a report on Monday, February 24th. 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $252.85.

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.