SBA Communications Co. (NASDAQ:SBAC) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company decreased its holdings in SBA Communications Co. (NASDAQ:SBAC - Free Report) by 5.6% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 82,143 shares of the technology company's stock after selling 4,911 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.08% of SBA Communications worth $16,741,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Dodge & Cox boosted its holdings in SBA Communications by 352.5% during the fourth quarter. Dodge & Cox now owns 7,346,255 shares of the technology company's stock valued at $1,497,167,000 after acquiring an additional 5,722,740 shares during the period. Norges Bank bought a new position in shares of SBA Communications in the fourth quarter valued at about $268,287,000. Wealthfront Advisers LLC raised its position 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 purchasing an additional 1,122,064 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of SBA Communications by 16.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,254,460 shares of the technology company's stock worth $1,024,049,000 after buying an additional 605,872 shares during the period. Finally, Victory Capital Management Inc. lifted its stake in SBA Communications by 46.5% in the fourth quarter. Victory Capital Management Inc. now owns 1,781,231 shares of the technology company's stock valued at $363,015,000 after buying an additional 565,137 shares during the period. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SBAC has been the topic of several research reports. StockNews.com cut SBA Communications from a "buy" rating to a "hold" rating in a research note on Friday, April 18th. Barclays increased their price target on SBA Communications from $244.00 to $247.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 29th. Wells Fargo & Company boosted their target price on shares of SBA Communications from $210.00 to $225.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 26th. Morgan Stanley started coverage on SBA Communications in a report on Tuesday, April 1st. They set an "equal weight" rating and a $240.00 price target for the company. Finally, Raymond James reissued a "strong-buy" rating and issued a $268.00 price target (up from $265.00) on shares of SBA Communications in a research report on Tuesday, April 29th. Six investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, SBA Communications has a consensus rating of "Moderate Buy" and an average target price of $252.38.

SBA Communications Price Performance

Shares of SBAC stock traded up $2.68 during trading hours on Friday, reaching $239.30. 215,750 shares of the company's stock were exchanged, compared to its average volume of 894,865. SBA Communications Co. has a 1 year low of $185.44 and a 1 year high of $252.64. The company has a market cap of $25.75 billion, a P/E ratio of 37.74, a price-to-earnings-growth ratio of 0.74 and a beta of 0.83. The company's 50 day moving average is $223.41 and its two-hundred day moving average is $216.48.

SBA Communications Dividend Announcement

The business also recently disclosed 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. This represents a $4.44 annualized dividend and a dividend yield of 1.86%. The ex-dividend date is Thursday, May 22nd. SBA Communications's dividend payout ratio (DPR) is 60.91%.

Insider Buying and Selling

In related news, 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 transaction of $1,202,950.00. Following the completion of the transaction, the director now directly owns 10,522 shares in the company, valued at $2,531,487.98. The trade was a 32.21 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Joshua Koenig sold 2,209 shares of the 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 sale, the vice president now owns 6,079 shares in the company, valued at approximately $1,362,790.22. This trade represents a 26.65 % decrease in their position. 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.