USS Investment Management Ltd Has $4.76 Million Holdings in SBA Communications Co. (NASDAQ:SBAC)

USS Investment Management Ltd trimmed its holdings in SBA Communications Co. (NASDAQ:SBAC - Free Report) by 30.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,344 shares of the technology company's stock after selling 10,112 shares during the period. USS Investment Management Ltd's holdings in SBA Communications were worth $4,758,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Evermay Wealth Management LLC acquired a new stake in shares of SBA Communications in the fourth quarter valued at approximately $27,000. Graney & King LLC acquired a new stake in shares of SBA Communications in the fourth quarter valued at approximately $29,000. Oakworth Capital Inc. lifted its position in shares of SBA Communications by 161.8% in the fourth quarter. Oakworth Capital Inc. now owns 233 shares of the technology company's stock valued at $47,000 after buying an additional 144 shares during the last quarter. CKW Financial Group acquired a new stake in shares of SBA Communications in the fourth quarter valued at approximately $56,000. Finally, State of Wyoming lifted its position in shares of SBA Communications by 75.8% in the fourth quarter. State of Wyoming now owns 276 shares of the technology company's stock valued at $56,000 after buying an additional 119 shares during the last quarter. 97.35% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently weighed in on SBAC. Barclays lifted their price target on SBA Communications from $244.00 to $247.00 and gave the stock an "overweight" rating in a report on Tuesday, April 29th. JMP Securities lifted their price target on SBA Communications from $250.00 to $270.00 and gave the stock a "market outperform" rating in a report on Tuesday, April 29th. 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. Raymond James reissued a "strong-buy" rating and set a $268.00 price target (up from $265.00) on shares of SBA Communications in a report on Tuesday, April 29th. Finally, Citizens Jmp raised SBA Communications to a "strong-buy" rating in a report on Monday, January 27th. Seven equities research 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. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $253.43.

Insider Activity

In other news, Director Jack Langer sold 5,000 shares of SBA Communications stock in a transaction 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 transaction, the director now owns 10,522 shares in the company, valued at approximately $2,531,487.98. This trade represents a 32.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Joshua Koenig sold 2,209 shares of SBA Communications stock in a transaction on Friday, March 7th. The shares were sold at an average price of $224.18, for a total value of $495,213.62. Following the completion of the transaction, the vice president now owns 6,079 shares in the company, valued at approximately $1,362,790.22. The trade was a 26.65% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.92% of the company's stock.

SBA Communications Price Performance

SBA Communications stock traded up $1.25 during mid-day trading on Friday, reaching $229.52. 400,822 shares of the company were exchanged, compared to its average volume of 898,412. SBA Communications Co. has a 12 month low of $185.44 and a 12 month high of $252.64. The company has a fifty day simple moving average of $225.78 and a 200-day simple moving average of $216.12. The firm has a market cap of $24.66 billion, a PE ratio of 36.20, a PEG ratio of 0.74 and a beta of 0.83.

SBA Communications Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 17th. Stockholders 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 annualized dividend and a dividend yield of 1.93%. SBA Communications's payout ratio is 60.91%.

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.