Bristol John W & Co. Inc. NY Sells 12,043 Shares of SBA Communications Co. (NASDAQ:SBAC)

Bristol John W & Co. Inc. NY lessened its position in SBA Communications Co. (NASDAQ:SBAC - Free Report) by 2.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 416,943 shares of the technology company's stock after selling 12,043 shares during the quarter. Bristol John W & Co. Inc. NY owned 0.39% of SBA Communications worth $84,973,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in SBAC. Integrated Advisors Network LLC grew its stake in shares of SBA Communications by 7.8% during the fourth quarter. Integrated Advisors Network LLC now owns 2,775 shares of the technology company's stock valued at $566,000 after buying an additional 200 shares during the last quarter. Toronto Dominion Bank grew its stake in shares of SBA Communications by 6.7% in the fourth quarter. Toronto Dominion Bank now owns 68,763 shares of the technology company's stock worth $14,014,000 after purchasing an additional 4,330 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its stake in shares of SBA Communications by 39.6% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,100,724 shares of the technology company's stock worth $224,328,000 after purchasing an additional 312,125 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in SBA Communications by 1.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 898,360 shares of the technology company's stock worth $183,086,000 after buying an additional 11,976 shares during the period. Finally, Woodline Partners LP purchased a new stake in SBA Communications in the fourth quarter worth about $5,693,000. Institutional investors own 97.35% of the company's stock.

SBA Communications Price Performance

NASDAQ SBAC traded down $1.98 during trading hours on Wednesday, hitting $229.03. The company had a trading volume of 673,732 shares, compared to its average volume of 896,644. SBA Communications Co. has a fifty-two week low of $185.44 and a fifty-two week high of $252.64. The company has a market capitalization of $24.61 billion, a price-to-earnings ratio of 36.12, a P/E/G ratio of 0.74 and a beta of 0.83. The firm's 50 day moving average is $226.32 and its 200 day moving average is $216.31.

SBA Communications Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Thursday, May 22nd will be issued 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 1.94%. SBA Communications's dividend payout ratio is currently 60.91%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on SBAC. Wells Fargo & Company boosted their price objective on shares of SBA Communications from $210.00 to $225.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 26th. Morgan Stanley started coverage on shares of SBA Communications in a research note on Tuesday, April 1st. They set an "equal weight" rating and a $240.00 target price on the stock. Citigroup boosted their price target on shares of SBA Communications from $250.00 to $265.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Deutsche Bank Aktiengesellschaft cut shares of SBA Communications from a "buy" rating to a "hold" rating and set a $247.00 target price on the stock. in a research report on Tuesday, May 20th. Finally, Bank of America assumed coverage on shares of SBA Communications in a research note on Monday, May 19th. They set a "buy" rating and a $260.00 price target for the company. Seven analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, SBA Communications has an average rating of "Moderate Buy" and an average price target of $253.43.

Insider Activity at SBA Communications

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