American Century Companies Inc. Sells 763,632 Shares of SBA Communications Co. (NASDAQ:SBAC)

American Century Companies Inc. lessened its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 63.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 442,247 shares of the technology company’s stock after selling 763,632 shares during the quarter. American Century Companies Inc. owned about 0.41% of SBA Communications worth $90,130,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Oak Thistle LLC grew its position in SBA Communications by 76.1% in the 4th quarter. Oak Thistle LLC now owns 6,623 shares of the technology company’s stock worth $1,350,000 after purchasing an additional 2,863 shares during the period. Czech National Bank boosted its stake in shares of SBA Communications by 6.5% in the 4th quarter. Czech National Bank now owns 23,314 shares of the technology company’s stock worth $4,751,000 after buying an additional 1,421 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of SBA Communications by 14,529.1% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 251,328 shares of the technology company’s stock worth $60,495,000 after acquiring an additional 249,610 shares during the period. First Hawaiian Bank increased its position in SBA Communications by 91.0% during the fourth quarter. First Hawaiian Bank now owns 12,377 shares of the technology company’s stock valued at $2,522,000 after acquiring an additional 5,897 shares during the last quarter. Finally, Bank of Montreal Can lifted its holdings in SBA Communications by 135.5% in the third quarter. Bank of Montreal Can now owns 420,514 shares of the technology company’s stock valued at $100,351,000 after acquiring an additional 241,916 shares during the period. 97.35% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on SBAC. Citizens Jmp upgraded SBA Communications to a “strong-buy” rating in a research note on Monday, January 27th. Barclays boosted their target price on shares of SBA Communications from $240.00 to $244.00 and gave the company an “overweight” rating in a research report on Friday. StockNews.com cut shares of SBA Communications from a “buy” rating to a “hold” rating in a research note on Thursday, February 20th. Royal Bank of Canada reissued an “outperform” rating and set a $255.00 price objective on shares of SBA Communications in a research report on Monday, February 24th. Finally, Wells Fargo & Company raised their target price on SBA Communications from $210.00 to $225.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 26th. Five analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $252.85.

Insider Buying and Selling at SBA Communications

In related news, VP Joshua Koenig sold 2,209 shares of the company’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $224.18, for a total transaction of $495,213.62. Following the completion of the transaction, the vice president now owns 6,079 shares in the company, valued at approximately $1,362,790.22. This represents a 26.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.30% of the company’s stock.

SBA Communications Stock Down 1.3 %

Shares of SBA Communications stock opened at $218.69 on Tuesday. SBA Communications Co. has a 52 week low of $183.64 and a 52 week high of $252.64. The stock’s 50-day simple moving average is $210.06 and its 200-day simple moving average is $219.90. The company has a market capitalization of $23.53 billion, a price-to-earnings ratio of 34.49, a PEG ratio of 0.74 and a beta of 0.74.

SBA Communications Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be paid a $1.11 dividend. This represents a $4.44 annualized dividend and a yield of 2.03%. This is an increase from SBA Communications’s previous quarterly dividend of $0.98. The ex-dividend date of this dividend is Thursday, March 13th. SBA Communications’s dividend payout ratio is presently 63.98%.

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.