SBA Communications Co. (NASDAQ:SBAC) Holdings Trimmed by Vinva Investment Management Ltd

Vinva Investment Management Ltd lowered its holdings in SBA Communications Co. (NASDAQ:SBAC) by 31.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,603 shares of the technology company’s stock after selling 12,900 shares during the period. Vinva Investment Management Ltd’s holdings in SBA Communications were worth $5,816,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. CIBC Asset Management Inc boosted its position in SBA Communications by 8.3% during the 3rd quarter. CIBC Asset Management Inc now owns 15,673 shares of the technology company’s stock worth $3,772,000 after acquiring an additional 1,202 shares during the period. Empowered Funds LLC boosted its holdings in shares of SBA Communications by 346.4% during the third quarter. Empowered Funds LLC now owns 7,883 shares of the technology company’s stock worth $1,897,000 after purchasing an additional 6,117 shares during the period. Natixis Advisors LLC grew its position in SBA Communications by 46.4% during the third quarter. Natixis Advisors LLC now owns 74,835 shares of the technology company’s stock valued at $18,013,000 after purchasing an additional 23,715 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in SBA Communications in the 3rd quarter valued at approximately $1,418,000. Finally, PNC Financial Services Group Inc. boosted its stake in shares of SBA Communications by 11.3% during the 3rd quarter. PNC Financial Services Group Inc. now owns 17,742 shares of the technology company’s stock valued at $4,270,000 after buying an additional 1,799 shares during the period. Institutional investors and hedge funds own 97.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on SBAC shares. Barclays dropped their price target on shares of SBA Communications from $254.00 to $240.00 and set an “overweight” rating on the stock in a research note on Thursday, February 20th. Wells Fargo & Company lifted their price target on SBA Communications from $210.00 to $225.00 and gave the company an “equal weight” rating in a report on Wednesday, February 26th. BMO Capital Markets restated a “market perform” rating and issued a $230.00 price objective (down previously from $260.00) on shares of SBA Communications in a report on Wednesday, December 18th. Royal Bank of Canada restated an “outperform” rating and set a $255.00 price target on shares of SBA Communications in a research note on Monday, February 24th. Finally, StockNews.com lowered shares of SBA Communications from a “buy” rating to a “hold” rating in a research note on Thursday, February 20th. Five investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $252.54.

SBA Communications Stock Up 1.0 %

Shares of NASDAQ SBAC opened at $223.15 on Wednesday. SBA Communications Co. has a 12 month low of $183.64 and a 12 month high of $252.64. The company has a market cap of $24.01 billion, a P/E ratio of 35.20, a P/E/G ratio of 0.74 and a beta of 0.74. The business’s 50 day moving average is $208.18 and its two-hundred day moving average is $220.21.

SBA Communications Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be paid a dividend of $1.11 per share. This is a boost from SBA Communications’s previous quarterly dividend of $0.98. This represents a $4.44 annualized dividend and a yield of 1.99%. The ex-dividend date of this dividend is Thursday, March 13th. SBA Communications’s dividend payout ratio is presently 63.98%.

Insider Buying and Selling at SBA Communications

In other SBA Communications news, EVP Donald Day sold 2,321 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $203.43, for a total value of $472,161.03. Following the completion of the transaction, the executive vice president now owns 4,998 shares of the company’s stock, valued at $1,016,743.14. This represents a 31.71 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Joshua Koenig sold 2,209 shares of the firm’s stock in a transaction that occurred 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 owns 6,079 shares of the company’s stock, valued at $1,362,790.22. This represents a 26.65 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

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.