BI Asset Management Fondsmaeglerselskab A S Buys 1,558 Shares of SBA Communications Co. (NASDAQ:SBAC)

BI Asset Management Fondsmaeglerselskab A S boosted its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 21.4% during the fourth quarter, Holdings Channel reports. The firm owned 8,855 shares of the technology company’s stock after purchasing an additional 1,558 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in SBA Communications were worth $1,805,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Dodge & Cox lifted its holdings in shares of SBA Communications by 352.5% during the 4th quarter. Dodge & Cox now owns 7,346,255 shares of the technology company’s stock valued at $1,497,167,000 after buying an additional 5,722,740 shares during the period. Norges Bank bought a new position in SBA Communications in the fourth quarter valued at about $268,287,000. Wealthfront Advisers LLC boosted its position in SBA Communications by 23,553.0% in the fourth quarter. Wealthfront Advisers LLC now owns 1,126,828 shares of the technology company’s stock worth $229,648,000 after purchasing an additional 1,122,064 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of SBA Communications by 16.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,254,460 shares of the technology company’s stock valued at $1,024,049,000 after purchasing an additional 605,872 shares during the period. Finally, Victory Capital Management Inc. increased its position in shares of SBA Communications by 46.5% during the 4th quarter. Victory Capital Management Inc. now owns 1,781,231 shares of the technology company’s stock valued at $363,015,000 after purchasing an additional 565,137 shares during the last quarter. Institutional investors own 97.35% of the company’s stock.

SBA Communications Price Performance

Shares of SBAC opened at $225.55 on Tuesday. The firm has a market cap of $24.27 billion, a P/E ratio of 35.58, 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. The company has a 50 day simple moving average of $217.64 and a two-hundred day simple moving average of $216.75.

SBA Communications Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were issued a $1.11 dividend. This is an increase from SBA Communications’s previous quarterly dividend of $0.98. This represents a $4.44 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date was Thursday, March 13th. SBA Communications’s payout ratio is currently 63.98%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Barclays raised their price objective on shares of SBA Communications from $240.00 to $244.00 and gave the stock an “overweight” rating in a report on Friday, March 21st. JMP Securities began coverage on shares of SBA Communications in a research report on Monday, January 27th. They set an “outperform” rating and a $250.00 price objective for the company. Morgan Stanley started coverage on SBA Communications in a report on Tuesday, April 1st. They issued an “equal weight” rating and a $240.00 target price on the stock. StockNews.com lowered SBA Communications from a “buy” rating to a “hold” rating in a report on Friday. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $255.00 price objective on shares of SBA Communications in a research note on Monday, February 24th. Six equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, SBA Communications currently has an average rating of “Moderate Buy” and an average price target of $251.92.

Insiders Place Their Bets

In related news, VP Joshua Koenig sold 2,209 shares of the business’s 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 sale, the vice president now directly owns 6,079 shares in the company, valued at approximately $1,362,790.22. The trade was a 26.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate 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.