LPL Financial LLC Acquires 129 Shares of SBA Communications Co. (NASDAQ:SBAC)

LPL Financial LLC raised its holdings in SBA Communications Co. (NASDAQ:SBAC) by 0.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 17,713 shares of the technology company’s stock after purchasing an additional 129 shares during the quarter. LPL Financial LLC’s holdings in SBA Communications were worth $3,610,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. KLP Kapitalforvaltning AS bought a new stake in SBA Communications in the 4th quarter valued at $7,112,000. Sei Investments Co. increased its holdings in shares of SBA Communications by 25.2% in the fourth quarter. Sei Investments Co. now owns 506,029 shares of the technology company’s stock valued at $103,129,000 after purchasing an additional 101,799 shares during the last quarter. Mizuho Securities USA LLC raised its position in shares of SBA Communications by 46.2% in the fourth quarter. Mizuho Securities USA LLC now owns 10,191 shares of the technology company’s stock valued at $2,077,000 after purchasing an additional 3,222 shares during the period. Blueshift Asset Management LLC acquired a new stake in shares of SBA Communications during the 4th quarter worth about $243,000. Finally, iA Global Asset Management Inc. lifted its stake in shares of SBA Communications by 15.3% during the 4th quarter. iA Global Asset Management Inc. now owns 8,828 shares of the technology company’s stock worth $1,799,000 after buying an additional 1,174 shares during the last quarter. 97.35% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other SBA Communications news, VP Joshua Koenig sold 2,209 shares of SBA Communications stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $224.18, for a total value of $495,213.62. Following the transaction, the vice president now owns 6,079 shares in the company, valued at $1,362,790.22. The trade was a 26.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 1.30% of the company’s stock.

SBA Communications Trading Up 0.0 %

Shares of SBA Communications stock opened at $212.20 on Friday. The company has a 50 day moving average of $214.80 and a 200-day moving average of $217.58. The company has a market cap of $22.84 billion, a PE ratio of 33.47, a price-to-earnings-growth ratio of 0.74 and a beta of 0.83. SBA Communications Co. has a 1-year low of $183.64 and a 1-year high of $252.64.

SBA Communications Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were issued a $1.11 dividend. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date was Thursday, March 13th. This is an increase from SBA Communications’s previous quarterly dividend of $0.98. SBA Communications’s dividend payout ratio (DPR) is currently 63.98%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SBAC. JMP Securities started coverage on shares of SBA Communications in a report on Monday, January 27th. They issued an “outperform” rating and a $250.00 price target on the stock. Morgan Stanley started coverage on SBA Communications in a research note on Tuesday, April 1st. They set an “equal weight” rating and a $240.00 target price on the stock. Citizens Jmp upgraded SBA Communications to a “strong-buy” rating in a research note on Monday, January 27th. StockNews.com upgraded SBA Communications from a “hold” rating to a “buy” rating in a research report on Thursday. Finally, Wells Fargo & Company boosted their target price on shares of SBA Communications from $210.00 to $225.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 26th. Five 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. Based on data from MarketBeat, SBA Communications has a consensus rating of “Moderate Buy” and an average target price of $251.92.

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.