Livforsakringsbolaget Skandia Omsesidigt Boosts Stock Position in SBA Communications Co. (NASDAQ:SBAC)

Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in SBA Communications Co. (NASDAQ:SBAC) by 67.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 225 shares of the technology company’s stock after purchasing an additional 91 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in SBA Communications were worth $57,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of SBAC. Invesco Ltd. grew its holdings in shares of SBA Communications by 140.6% in the third quarter. Invesco Ltd. now owns 2,143,877 shares of the technology company’s stock valued at $429,140,000 after purchasing an additional 1,252,764 shares in the last quarter. Norges Bank purchased a new position in shares of SBA Communications in the fourth quarter valued at $310,556,000. Ameriprise Financial Inc. grew its holdings in shares of SBA Communications by 115.3% in the third quarter. Ameriprise Financial Inc. now owns 1,358,037 shares of the technology company’s stock valued at $271,838,000 after purchasing an additional 727,163 shares in the last quarter. Millennium Management LLC grew its holdings in shares of SBA Communications by 294.4% in the fourth quarter. Millennium Management LLC now owns 797,089 shares of the technology company’s stock valued at $223,432,000 after purchasing an additional 594,994 shares in the last quarter. Finally, Bristol John W & Co. Inc. NY purchased a new position in shares of SBA Communications in the third quarter valued at $92,725,000. 97.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SBAC has been the subject of a number of recent research reports. BMO Capital Markets cut their target price on shares of SBA Communications from $285.00 to $265.00 and set an “outperform” rating for the company in a report on Tuesday, February 27th. Barclays lowered their price target on SBA Communications from $260.00 to $255.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, Bank of America upgraded SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 price target for the company in a research report on Thursday, March 7th. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $268.00.

SBA Communications Trading Up 0.1 %

NASDAQ:SBAC opened at $196.06 on Friday. SBA Communications Co. has a twelve month low of $185.23 and a twelve month high of $264.06. The company has a market cap of $21.20 billion, a price-to-earnings ratio of 42.53, a price-to-earnings-growth ratio of 1.20 and a beta of 0.56. The stock has a fifty day simple moving average of $211.29 and a 200-day simple moving average of $222.30.

SBA Communications (NASDAQ:SBAC) last released its earnings results on Monday, February 26th. The technology company reported $1.01 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.36). SBA Communications had a negative return on equity of 9.70% and a net margin of 18.51%. The business had revenue of $675.00 million for the quarter, compared to the consensus estimate of $682.11 million. During the same quarter last year, the business posted $3.11 earnings per share. The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. As a group, equities research analysts predict that SBA Communications Co. will post 12.61 EPS for the current fiscal year.

SBA Communications Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were given a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a dividend yield of 2.00%. This is an increase from SBA Communications’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend was Wednesday, March 13th. SBA Communications’s dividend payout ratio (DPR) is 85.03%.

Insider Transactions at SBA Communications

In other news, Director Mary S. Chan sold 1,977 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $217.99, for a total transaction of $430,966.23. Following the transaction, the director now owns 4,622 shares in the company, valued at $1,007,549.78. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.60% of the company’s stock.

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.