Handelsbanken Fonder AB Boosts Stock Holdings in SBA Communications Co. (NASDAQ:SBAC)

Handelsbanken Fonder AB boosted its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 49.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 45,033 shares of the technology company’s stock after purchasing an additional 14,801 shares during the period. Handelsbanken Fonder AB’s holdings in SBA Communications were worth $11,424,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of SBAC. CWM LLC raised its stake in SBA Communications by 9.8% during the third quarter. CWM LLC now owns 1,049 shares of the technology company’s stock worth $210,000 after purchasing an additional 94 shares during the period. SG Americas Securities LLC raised its stake in SBA Communications by 10.8% during the third quarter. SG Americas Securities LLC now owns 6,881 shares of the technology company’s stock worth $1,377,000 after purchasing an additional 670 shares during the period. CreativeOne Wealth LLC purchased a new position in SBA Communications during the third quarter worth approximately $202,000. Oak Thistle LLC increased its position in shares of SBA Communications by 132.2% in the third quarter. Oak Thistle LLC now owns 6,285 shares of the technology company’s stock worth $1,258,000 after acquiring an additional 3,578 shares in the last quarter. Finally, Czech National Bank increased its position in shares of SBA Communications by 47.7% in the third quarter. Czech National Bank now owns 18,943 shares of the technology company’s stock worth $3,792,000 after acquiring an additional 6,118 shares in the last quarter. Hedge funds and other institutional investors own 97.35% of the company’s stock.

SBA Communications Trading Up 0.8 %

SBAC opened at $198.30 on Wednesday. The company has a fifty day simple moving average of $210.70 and a 200 day simple moving average of $222.84. The firm has a market cap of $21.44 billion, a price-to-earnings ratio of 43.02, a PEG ratio of 1.21 and a beta of 0.56. SBA Communications Co. has a twelve month low of $185.23 and a twelve month high of $263.08.

SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings data 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). The company had revenue of $675.00 million for the quarter, compared to analyst estimates of $682.11 million. SBA Communications had a negative return on equity of 9.70% and a net margin of 18.51%. SBA Communications’s revenue was down 1.6% on a year-over-year basis. During the same period in the prior year, the business earned $3.11 earnings per share. On average, analysts forecast that SBA Communications Co. will post 12.61 earnings per share for the current fiscal year.

SBA Communications Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were issued a dividend of $0.98 per share. This is a positive change from SBA Communications’s previous quarterly dividend of $0.85. This represents a $3.92 annualized dividend and a yield of 1.98%. The ex-dividend date of this dividend was Wednesday, March 13th. SBA Communications’s dividend payout ratio (DPR) is currently 85.03%.

Insiders Place Their Bets

In other SBA Communications news, Director Mary S. Chan sold 1,977 shares of the firm’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $217.99, for a total transaction of $430,966.23. Following the completion of the transaction, the director now directly owns 4,622 shares of the company’s stock, valued at approximately $1,007,549.78. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Bank of America raised shares of SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 price objective for the company in a research report on Thursday, March 7th. BMO Capital Markets dropped their price objective on shares of SBA Communications from $285.00 to $265.00 and set an “outperform” rating for the company in a research report on Tuesday, February 27th. Finally, Barclays dropped their price objective on shares of SBA Communications from $260.00 to $255.00 and set an “overweight” rating for the company in a research report on Wednesday, April 17th. One analyst has rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $268.00.

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.