Barrow Hanley Mewhinney & Strauss LLC Has $224.33 Million Stock Holdings in SBA Communications Co. (NASDAQ:SBAC)

Barrow Hanley Mewhinney & Strauss LLC lifted its stake in SBA Communications Co. (NASDAQ:SBAC - Free Report) by 39.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,100,724 shares of the technology company's stock after purchasing an additional 312,125 shares during the quarter. Barrow Hanley Mewhinney & Strauss LLC owned 1.02% of SBA Communications worth $224,328,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. Dodge & Cox boosted its position in shares of SBA Communications by 352.5% in the fourth quarter. Dodge & Cox now owns 7,346,255 shares of the technology company's stock worth $1,497,167,000 after buying an additional 5,722,740 shares during the period. Norges Bank purchased a new stake in SBA Communications in the 4th quarter worth about $268,287,000. Wealthfront Advisers LLC lifted its stake in SBA Communications by 23,553.0% in the 4th quarter. Wealthfront Advisers LLC now owns 1,126,828 shares of the technology company's stock worth $229,648,000 after acquiring an additional 1,122,064 shares in the last quarter. BROOKFIELD Corp ON boosted its position in SBA Communications by 27,449.9% during the 4th quarter. BROOKFIELD Corp ON now owns 991,245 shares of the technology company's stock worth $202,016,000 after acquiring an additional 987,647 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in SBA Communications by 16.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,254,460 shares of the technology company's stock valued at $1,024,049,000 after acquiring an additional 605,872 shares in the last quarter. Hedge funds and other institutional investors own 97.35% of the company's stock.

SBA Communications Stock Down 1.6%

SBAC stock traded down $3.62 during midday trading on Wednesday, hitting $227.39. 275,427 shares of the company traded hands, compared to its average volume of 894,684. SBA Communications Co. has a twelve month low of $185.44 and a twelve month high of $252.64. The stock has a market capitalization of $24.43 billion, a price-to-earnings ratio of 35.85, a price-to-earnings-growth ratio of 0.74 and a beta of 0.83. The business has a 50 day simple moving average of $226.17 and a 200-day simple moving average of $216.23.

SBA Communications Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Investors of record on Thursday, May 22nd will be paid a $1.11 dividend. The ex-dividend date is Thursday, May 22nd. This represents a $4.44 dividend on an annualized basis and a yield of 1.95%. SBA Communications's payout ratio is presently 60.91%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Barclays upped their target price on SBA Communications from $244.00 to $247.00 and gave the company an "overweight" rating in a report on Tuesday, April 29th. Deutsche Bank Aktiengesellschaft lowered shares of SBA Communications from a "buy" rating to a "hold" rating and set a $247.00 price objective on the stock. in a research note on Tuesday, May 20th. Wells Fargo & Company lifted their target price on shares of SBA Communications from $210.00 to $225.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 26th. Morgan Stanley started coverage on shares of SBA Communications in a report on Tuesday, April 1st. They set an "equal weight" rating and a $240.00 price target on the stock. Finally, Citigroup increased their price objective on SBA Communications from $250.00 to $265.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Seven investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $253.43.

Insider Buying and Selling

In related news, VP Joshua Koenig sold 2,209 shares of the stock in a transaction that occurred on 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 sale, the vice president now owns 6,079 shares in the company, valued at $1,362,790.22. This represents a 26.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jack Langer sold 5,000 shares of SBA Communications stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $240.59, for a total value of $1,202,950.00. Following the completion of the transaction, the director now directly owns 10,522 shares in the company, valued at approximately $2,531,487.98. This represents a 32.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.92% of the company's stock.

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.