Envestnet Portfolio Solutions Inc. Has $1.17 Million Stock Holdings in SBA Communications Co. (NASDAQ:SBAC)

Envestnet Portfolio Solutions Inc. boosted its stake in SBA Communications Co. (NASDAQ:SBAC) by 36.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 5,731 shares of the technology company’s stock after buying an additional 1,527 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in SBA Communications were worth $1,168,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of SBAC. Evermay Wealth Management LLC acquired a new stake in SBA Communications during the 4th quarter worth approximately $27,000. Oakworth Capital Inc. lifted its holdings in shares of SBA Communications by 161.8% during the fourth quarter. Oakworth Capital Inc. now owns 233 shares of the technology company’s stock worth $47,000 after buying an additional 144 shares in the last quarter. CKW Financial Group bought a new stake in shares of SBA Communications in the fourth quarter valued at about $56,000. Sherman Asset Management Inc. acquired a new position in shares of SBA Communications in the fourth quarter valued at about $73,000. Finally, Versant Capital Management Inc increased its position in SBA Communications by 17.3% during the fourth quarter. Versant Capital Management Inc now owns 360 shares of the technology company’s stock worth $73,000 after acquiring an additional 53 shares during the period. 97.35% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on SBAC shares. Barclays boosted their price objective on shares of SBA Communications from $240.00 to $244.00 and gave the company an “overweight” rating in a report on Friday. Wells Fargo & Company increased their price target on SBA Communications from $210.00 to $225.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 26th. StockNews.com cut SBA Communications from a “buy” rating to a “hold” rating in a report on Thursday, February 20th. BMO Capital Markets restated a “market perform” rating and issued a $230.00 price target (down previously from $260.00) on shares of SBA Communications in a research report on Wednesday, December 18th. Finally, Citizens Jmp raised shares of SBA Communications to a “strong-buy” rating in a research report on Monday, January 27th. Five equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, SBA Communications currently has a consensus rating of “Moderate Buy” and an average price target of $252.85.

Insider Buying and Selling at SBA Communications

In related news, VP Joshua Koenig sold 2,209 shares of SBA Communications stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $224.18, for a total transaction of $495,213.62. Following the sale, the vice president now directly owns 6,079 shares in the company, valued at $1,362,790.22. This trade represents a 26.65 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.30% of the company’s stock.

SBA Communications Stock Performance

NASDAQ SBAC opened at $221.64 on Friday. The firm’s fifty day moving average price is $209.59 and its two-hundred day moving average price is $220.10. The stock has a market cap of $23.85 billion, a PE ratio of 34.96, a PEG ratio of 0.74 and a beta of 0.74. SBA Communications Co. has a fifty-two week low of $183.64 and a fifty-two week high of $252.64.

SBA Communications Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be issued a $1.11 dividend. This represents a $4.44 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date is Thursday, March 13th. This is a boost from SBA Communications’s previous quarterly dividend of $0.98. SBA Communications’s dividend payout ratio is presently 63.98%.

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.