NewEdge Advisors LLC Has $260,000 Stock Holdings in SBA Communications Co. (NASDAQ:SBAC)

NewEdge Advisors LLC raised its stake in SBA Communications Co. (NASDAQ:SBAC) by 23.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,276 shares of the technology company’s stock after purchasing an additional 246 shares during the period. NewEdge Advisors LLC’s holdings in SBA Communications were worth $260,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Exchange Traded Concepts LLC lifted its holdings in shares of SBA Communications by 15.1% during the fourth quarter. Exchange Traded Concepts LLC now owns 382 shares of the technology company’s stock worth $78,000 after buying an additional 50 shares in the last quarter. Versant Capital Management Inc boosted its holdings in SBA Communications by 17.3% in the 4th quarter. Versant Capital Management Inc now owns 360 shares of the technology company’s stock valued at $73,000 after purchasing an additional 53 shares during the period. Auxano Advisors LLC boosted its holdings in SBA Communications by 2.3% in the 4th quarter. Auxano Advisors LLC now owns 2,431 shares of the technology company’s stock valued at $495,000 after purchasing an additional 54 shares during the period. Lake Street Advisors Group LLC grew its position in shares of SBA Communications by 5.8% during the 4th quarter. Lake Street Advisors Group LLC now owns 1,105 shares of the technology company’s stock worth $225,000 after purchasing an additional 61 shares in the last quarter. Finally, Orion Portfolio Solutions LLC increased its holdings in shares of SBA Communications by 1.3% during the fourth quarter. Orion Portfolio Solutions LLC now owns 4,962 shares of the technology company’s stock worth $1,011,000 after purchasing an additional 64 shares during the period. 97.35% of the stock is owned by institutional investors.

Insider Activity

In related news, VP Joshua Koenig sold 2,209 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $224.18, for a total value of $495,213.62. Following the completion of the sale, the vice president now directly owns 6,079 shares in the company, valued at $1,362,790.22. This represents a 26.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.92% of the company’s stock.

SBA Communications Trading Down 1.1 %

NASDAQ:SBAC opened at $240.74 on Friday. The stock’s 50-day moving average is $221.19 and its 200-day moving average is $216.71. SBA Communications Co. has a 1-year low of $185.44 and a 1-year high of $252.64. The stock has a market cap of $25.91 billion, a P/E ratio of 37.97, a price-to-earnings-growth ratio of 0.74 and a beta of 0.83.

SBA Communications Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Thursday, May 22nd will be given a $1.11 dividend. This represents a $4.44 annualized dividend and a yield of 1.84%. The ex-dividend date is Thursday, May 22nd. SBA Communications’s dividend payout ratio (DPR) is currently 60.91%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on SBAC shares. Barclays increased their price target on SBA Communications from $244.00 to $247.00 and gave the stock an “overweight” rating in a research report on Tuesday. JMP Securities raised their price target on SBA Communications from $250.00 to $270.00 and gave the stock a “market outperform” rating in a research report on Tuesday. Raymond James reaffirmed a “strong-buy” rating and set a $268.00 price objective (up previously from $265.00) on shares of SBA Communications in a research report on Tuesday. BMO Capital Markets raised their target price on shares of SBA Communications from $230.00 to $240.00 and gave the company a “market perform” rating in a report on Tuesday. Finally, Citigroup increased their price target on shares of SBA Communications from $250.00 to $265.00 and gave the stock a “buy” rating in a research report on Tuesday. Six research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, SBA Communications has an average rating of “Moderate Buy” and a consensus price target of $252.38.

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.