Brown Brothers Harriman & Co. Grows Stock Holdings in SBA Communications Co. (NASDAQ:SBAC)

Brown Brothers Harriman & Co. increased its position in shares of SBA Communications Co. (NASDAQ:SBAC) by 6.0% during the 4th quarter, Holdings Channel.com reports. The fund 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 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Exchange Traded Concepts LLC boosted its stake in shares of SBA Communications by 15.1% in the fourth quarter. Exchange Traded Concepts LLC now owns 382 shares of the technology company’s stock valued at $78,000 after purchasing an additional 50 shares during the period. Versant Capital Management Inc boosted its holdings in SBA Communications by 17.3% in the fourth quarter. Versant Capital Management Inc now owns 360 shares of the technology company’s stock valued at $73,000 after purchasing an additional 53 shares during the period. Auxano Advisors LLC grew its stake in SBA Communications by 2.3% during the 4th quarter. Auxano Advisors LLC now owns 2,431 shares of the technology company’s stock worth $495,000 after purchasing an additional 54 shares in the last quarter. Lake Street Advisors Group LLC raised its position in SBA Communications by 5.8% in the 4th quarter. Lake Street Advisors Group LLC now owns 1,105 shares of the technology company’s stock valued at $225,000 after purchasing an additional 61 shares in the last quarter. Finally, Orion Portfolio Solutions LLC boosted its stake in shares of SBA Communications by 1.3% in the 4th quarter. Orion Portfolio Solutions LLC now owns 4,962 shares of the technology company’s stock valued at $1,011,000 after buying an additional 64 shares during the period. 97.35% of the stock is owned by institutional investors and hedge funds.

SBA Communications Trading Up 1.5 %

Shares of NASDAQ SBAC opened at $220.01 on Tuesday. The stock has a market cap of $23.68 billion, a P/E ratio of 34.70, a P/E/G ratio of 0.74 and a beta of 0.74. The stock has a 50 day moving average of $211.64 and a two-hundred day moving average of $219.06. SBA Communications Co. has a twelve month low of $183.64 and a twelve month high of $252.64.

SBA Communications Increases Dividend

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

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on SBAC. Barclays upped their target price on shares of SBA Communications from $240.00 to $244.00 and gave the stock an “overweight” rating in a research note on Friday, March 21st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $255.00 price objective on shares of SBA Communications in a research report on Monday, February 24th. Citizens Jmp raised SBA Communications to a “strong-buy” rating in a report on Monday, January 27th. 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 report on Wednesday, February 26th. Finally, JMP Securities assumed coverage on SBA Communications in a research report on Monday, January 27th. They set an “outperform” rating and a $250.00 target price on the stock. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $252.85.

Insiders Place Their Bets

In other news, VP Joshua Koenig sold 2,209 shares of the stock in a transaction dated 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 sale, 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 filing with the Securities & Exchange Commission, which is accessible through this link. 1.30% of the stock is currently owned by insiders.

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.