SBA Communications Co. (NASDAQ:SBAC) Position Increased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. raised its position in SBA Communications Co. (NASDAQ:SBAC) by 3.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 1,171,945 shares of the technology company’s stock after buying an additional 38,047 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in SBA Communications were worth $297,311,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Raymond James & Associates lifted its stake in shares of SBA Communications by 23.3% in the 3rd quarter. Raymond James & Associates now owns 90,188 shares of the technology company’s stock valued at $18,053,000 after purchasing an additional 17,048 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in shares of SBA Communications by 18.9% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 13,027 shares of the technology company’s stock worth $2,608,000 after acquiring an additional 2,072 shares in the last quarter. Verdence Capital Advisors LLC increased its holdings in shares of SBA Communications by 9.3% during the 3rd quarter. Verdence Capital Advisors LLC now owns 1,404 shares of the technology company’s stock valued at $281,000 after acquiring an additional 120 shares during the last quarter. Mackenzie Financial Corp raised its stake in shares of SBA Communications by 7.6% in the 3rd quarter. Mackenzie Financial Corp now owns 9,999 shares of the technology company’s stock valued at $1,900,000 after acquiring an additional 702 shares in the last quarter. Finally, Strs Ohio raised its stake in shares of SBA Communications by 134.0% in the 3rd quarter. Strs Ohio now owns 23,400 shares of the technology company’s stock valued at $4,683,000 after acquiring an additional 13,400 shares in the last quarter. 97.35% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

SBAC has been the topic of several analyst reports. Bank of America upgraded SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 price target on the stock in a report on Thursday, March 7th. Barclays lowered their target price on shares of SBA Communications from $255.00 to $241.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 30th. Citigroup cut their target price on shares of SBA Communications from $290.00 to $260.00 and set a “buy” rating for the company in a research report on Tuesday, April 30th. BMO Capital Markets lowered their price target on SBA Communications from $285.00 to $265.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 27th. Finally, Wells Fargo & Company cut their price objective on SBA Communications from $260.00 to $230.00 and set an “overweight” rating for the company in a research report on Tuesday, April 30th. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $254.75.

Insiders Place Their Bets

In related news, Director Mary S. Chan sold 1,977 shares of the business’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $217.99, for a total value of $430,966.23. Following the sale, the director now owns 4,622 shares of the company’s stock, valued at approximately $1,007,549.78. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.30% of the company’s stock.

SBA Communications Stock Up 0.4 %

Shares of SBAC stock traded up $0.70 during mid-day trading on Wednesday, reaching $196.70. The stock had a trading volume of 326,482 shares, compared to its average volume of 1,000,289. The firm has a market cap of $21.27 billion, a PE ratio of 38.65, a P/E/G ratio of 0.57 and a beta of 0.59. SBA Communications Co. has a one year low of $183.64 and a one year high of $258.76. The firm’s 50 day simple moving average is $208.00 and its 200 day simple moving average is $222.65.

SBA Communications (NASDAQ:SBAC) last issued its earnings results on Monday, April 29th. The technology company reported $1.42 EPS for the quarter, topping the consensus estimate of $1.21 by $0.21. The firm had revenue of $657.86 million during the quarter, compared to analysts’ expectations of $671.08 million. SBA Communications had a negative return on equity of 10.75% and a net margin of 20.61%. SBA Communications’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same period last year, the business earned $3.13 earnings per share. Sell-side analysts forecast that SBA Communications Co. will post 12.53 earnings per share for the current fiscal year.

SBA Communications Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 19th. Investors of record on Thursday, May 23rd will be given a $0.98 dividend. This represents a $3.92 annualized dividend and a yield of 1.99%. The ex-dividend date is Wednesday, May 22nd. SBA Communications’s dividend payout ratio (DPR) is presently 76.86%.

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.