Thrivent Financial for Lutherans Has $170.47 Million Stock Holdings in SBA Communications Co. (NASDAQ:SBAC)

Thrivent Financial for Lutherans trimmed its position in SBA Communications Co. (NASDAQ:SBAC) by 4.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 836,443 shares of the technology company’s stock after selling 38,502 shares during the period. Thrivent Financial for Lutherans’ holdings in SBA Communications were worth $170,467,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of SBAC. Evermay Wealth Management LLC acquired a new position in SBA Communications in the fourth quarter valued at approximately $27,000. Oakworth Capital Inc. raised its position in shares of SBA Communications by 161.8% during the 4th quarter. Oakworth Capital Inc. now owns 233 shares of the technology company’s stock valued at $47,000 after acquiring an additional 144 shares during the last quarter. CKW Financial Group acquired a new position in shares of SBA Communications in the 4th quarter valued at $56,000. Versant Capital Management Inc boosted its position in shares of SBA Communications by 17.3% in the 4th quarter. Versant Capital Management Inc now owns 360 shares of the technology company’s stock worth $73,000 after purchasing an additional 53 shares during the last quarter. Finally, Sherman Asset Management Inc. acquired a new stake in shares of SBA Communications during the fourth quarter worth $73,000. Institutional investors own 97.35% of the company’s stock.

SBA Communications Trading Up 1.2 %

Shares of NASDAQ SBAC opened at $220.90 on Tuesday. The company has a fifty day moving average price of $207.64 and a 200 day moving average price of $220.23. The firm has a market cap of $23.77 billion, a PE ratio of 34.84, a PEG ratio of 0.74 and a beta of 0.74. SBA Communications Co. has a 1-year low of $183.64 and a 1-year high of $252.64.

SBA Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be given 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 dividend yield of 2.01%. The ex-dividend date of this dividend is Thursday, March 13th. SBA Communications’s dividend payout ratio is currently 63.98%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Royal Bank of Canada reissued an “outperform” rating and issued a $255.00 target price on shares of SBA Communications in a research note on Monday, February 24th. StockNews.com downgraded shares of SBA Communications from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. JMP Securities initiated coverage on shares of SBA Communications in a report on Monday, January 27th. They set an “outperform” rating and a $250.00 price objective for the company. Citizens Jmp upgraded shares of SBA Communications to a “strong-buy” rating in a report on Monday, January 27th. Finally, Barclays decreased their price target on shares of SBA Communications from $254.00 to $240.00 and set an “overweight” rating for the company in a report on Thursday, February 20th. Five analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, SBA Communications presently has a consensus rating of “Moderate Buy” and a consensus price target of $252.54.

Insider Buying and Selling

In other news, VP Joshua Koenig sold 2,209 shares of the business’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $224.18, for a total value of $495,213.62. Following the sale, the vice president now owns 6,079 shares of the company’s stock, valued at $1,362,790.22. The trade was a 26.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Donald Day sold 2,321 shares of the firm’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $203.43, for a total transaction of $472,161.03. Following the completion of the transaction, the executive vice president now directly owns 4,998 shares of the company’s stock, valued at approximately $1,016,743.14. This trade represents a 31.71 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is owned by corporate insiders.

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.