Americana Partners LLC Boosts Stock Position in SBA Communications Co. (NASDAQ:SBAC)

Americana Partners LLC grew its position in SBA Communications Co. (NASDAQ:SBAC) by 20.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,700 shares of the technology company’s stock after acquiring an additional 284 shares during the quarter. Americana Partners LLC’s holdings in SBA Communications were worth $346,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Oak Thistle LLC increased its holdings in shares of SBA Communications by 76.1% in the 4th quarter. Oak Thistle LLC now owns 6,623 shares of the technology company’s stock valued at $1,350,000 after acquiring an additional 2,863 shares during the last quarter. Czech National Bank boosted its position in SBA Communications by 6.5% during the 4th quarter. Czech National Bank now owns 23,314 shares of the technology company’s stock valued at $4,751,000 after purchasing an additional 1,421 shares during the period. Caisse DE Depot ET Placement DU Quebec boosted 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 valued at $60,495,000 after purchasing an additional 249,610 shares during the period. First Hawaiian Bank boosted its position 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 during the period. Finally, Bank of Montreal Can boosted its position in SBA Communications by 135.5% during 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 period. 97.35% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. BMO Capital Markets restated a “market perform” rating and set a $230.00 price objective (down previously from $260.00) on shares of SBA Communications in a research report on Wednesday, December 18th. Barclays reduced their price objective on SBA Communications from $257.00 to $254.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. TD Cowen boosted their price objective on SBA Communications from $251.00 to $261.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. StockNews.com upgraded SBA Communications from a “hold” rating to a “buy” rating in a research report on Thursday, January 23rd. Finally, Citizens Jmp upgraded SBA Communications to a “strong-buy” rating in a research report on Monday, January 27th. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $252.29.

SBA Communications Stock Up 0.5 %

Shares of SBA Communications stock opened at $206.40 on Wednesday. The firm has a market cap of $22.19 billion, a price-to-earnings ratio of 32.56, a price-to-earnings-growth ratio of 0.73 and a beta of 0.69. The business has a fifty day simple moving average of $203.15 and a 200-day simple moving average of $220.76. SBA Communications Co. has a fifty-two week low of $183.64 and a fifty-two week high of $252.64.

Insider Activity

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

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.