SBA Communications Co. (NASDAQ:SBAC) Shares Acquired by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. increased its holdings in shares of SBA Communications Co. (NASDAQ:SBAC) by 6.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,718 shares of the technology company’s stock after acquiring an additional 97 shares during the period. Brown Brothers Harriman & Co.’s holdings in SBA Communications were worth $350,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Oak Thistle LLC raised its stake in shares of SBA Communications by 76.1% during the 4th quarter. Oak Thistle LLC now owns 6,623 shares of the technology company’s stock worth $1,350,000 after buying an additional 2,863 shares during the period. Czech National Bank lifted its holdings in SBA Communications by 6.5% during the fourth quarter. Czech National Bank now owns 23,314 shares of the technology company’s stock valued at $4,751,000 after purchasing an additional 1,421 shares in the last quarter. First Hawaiian Bank grew its position in shares of SBA Communications by 91.0% in the fourth quarter. First Hawaiian Bank now owns 12,377 shares of the technology company’s stock valued at $2,522,000 after purchasing an additional 5,897 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of SBA Communications by 3.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,308,511 shares of the technology company’s stock worth $266,675,000 after purchasing an additional 38,725 shares in the last quarter. Finally, Nordea Investment Management AB raised its position in shares of SBA Communications by 49.3% during the 4th quarter. Nordea Investment Management AB now owns 687,496 shares of the technology company’s stock worth $141,205,000 after purchasing an additional 226,878 shares during the last quarter. Hedge funds and other institutional investors own 97.35% of the company’s stock.

SBA Communications Stock Performance

SBAC stock opened at $220.01 on Tuesday. The firm has a market cap of $23.68 billion, a PE ratio of 34.70, a PEG ratio of 0.74 and a beta of 0.74. SBA Communications Co. has a one year low of $183.64 and a one year high of $252.64. The firm’s 50 day moving average price is $211.64 and its 200-day moving average price is $219.06.

SBA Communications Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were paid a $1.11 dividend. This represents a $4.44 annualized dividend and a dividend yield of 2.02%. The ex-dividend date was Thursday, March 13th. This is a positive change from SBA Communications’s previous quarterly dividend of $0.98. SBA Communications’s dividend payout ratio is 63.98%.

Insider Transactions at SBA Communications

In other SBA Communications news, VP Joshua Koenig sold 2,209 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $224.18, for a total value of $495,213.62. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

SBAC has been the topic of several research analyst reports. Wells Fargo & Company lifted their price objective on SBA Communications from $210.00 to $225.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 26th. StockNews.com raised SBA Communications from a “hold” rating to a “buy” rating in a research note on Tuesday, March 25th. Royal Bank of Canada reiterated an “outperform” rating and issued a $255.00 target price on shares of SBA Communications in a research report on Monday, February 24th. JMP Securities initiated coverage on shares of SBA Communications in a research report on Monday, January 27th. They set an “outperform” rating and a $250.00 price target on the stock. Finally, Citizens Jmp upgraded shares of SBA Communications to a “strong-buy” rating in a report on Monday, January 27th. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $252.85.

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.