SBA Communications Co. (NASDAQ:SBAC) Shares Sold by Motley Fool Wealth Management LLC

Motley Fool Wealth Management LLC lessened its stake in SBA Communications Co. (NASDAQ:SBAC) by 4.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 47,470 shares of the technology company’s stock after selling 2,456 shares during the period. Motley Fool Wealth Management LLC’s holdings in SBA Communications were worth $9,608,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of SBAC. Cerity Partners LLC raised its position in shares of SBA Communications by 15.6% in the third quarter. Cerity Partners LLC now owns 17,597 shares of the technology company’s stock valued at $4,236,000 after buying an additional 2,376 shares during the last quarter. Swedbank AB grew its position in SBA Communications by 0.5% in the 3rd quarter. Swedbank AB now owns 79,661 shares of the technology company’s stock valued at $19,174,000 after acquiring an additional 410 shares in the last quarter. Brown Brothers Harriman & Co. lifted its holdings in SBA Communications by 5.2% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,621 shares of the technology company’s stock worth $390,000 after buying an additional 80 shares in the last quarter. Bank of Montreal Can raised its stake in shares of 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 in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of SBA Communications by 1.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 87,054 shares of the technology company’s stock valued at $20,954,000 after buying an additional 1,539 shares during the period. 97.35% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, VP Joshua Koenig sold 2,209 shares of the stock in a transaction dated Friday, March 7th. The stock was 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 directly owns 6,079 shares in the company, valued at approximately $1,362,790.22. This trade represents a 26.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

SBAC has been the subject of a number of research reports. BMO Capital Markets reissued a “market perform” rating and issued a $230.00 price target (down from $260.00) on shares of SBA Communications in a research report on Wednesday, December 18th. Wells Fargo & Company lifted their price target on SBA Communications from $210.00 to $225.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 26th. Barclays boosted their price objective on shares of SBA Communications from $240.00 to $244.00 and gave the company an “overweight” rating in a research report on Friday, March 21st. StockNews.com raised SBA Communications from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, JMP Securities started coverage on SBA Communications in a report on Monday, January 27th. They issued an “outperform” rating and a $250.00 price target for the company. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, SBA Communications presently has an average rating of “Moderate Buy” and an average target price of $252.85.

SBA Communications Price Performance

SBAC stock opened at $214.31 on Wednesday. The company has a 50 day moving average price of $210.45 and a 200 day moving average price of $219.73. The stock has a market capitalization of $23.06 billion, a PE ratio of 33.80, a price-to-earnings-growth ratio of 0.74 and a beta of 0.74. SBA Communications Co. has a fifty-two week low of $183.64 and a fifty-two week high of $252.64.

SBA Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be issued a dividend of $1.11 per share. The ex-dividend date is Thursday, March 13th. This represents a $4.44 dividend on an annualized basis and a yield of 2.07%. This is a boost from SBA Communications’s previous quarterly dividend of $0.98. SBA Communications’s payout ratio is currently 63.98%.

About SBA Communications

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.