Nordea Investment Management AB Increases Holdings in SBA Communications Co. (NASDAQ:SBAC)

Nordea Investment Management AB grew its holdings in SBA Communications Co. (NASDAQ:SBAC) by 49.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 687,496 shares of the technology company’s stock after buying an additional 226,878 shares during the quarter. Nordea Investment Management AB’s holdings in SBA Communications were worth $141,205,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in SBAC. Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of SBA Communications by 10.7% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 527 shares of the technology company’s stock valued at $127,000 after acquiring an additional 51 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in SBA Communications by 32.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company’s stock worth $52,000 after purchasing an additional 53 shares in the last quarter. Versant Capital Management Inc lifted its position in shares of SBA Communications by 17.3% in the 4th quarter. Versant Capital Management Inc now owns 360 shares of the technology company’s stock worth $73,000 after purchasing an additional 53 shares during the period. Sugarloaf Wealth Management LLC boosted its stake in shares of SBA Communications by 11.6% during the 3rd quarter. Sugarloaf Wealth Management LLC now owns 558 shares of the technology company’s stock valued at $134,000 after purchasing an additional 58 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in shares of SBA Communications by 1.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 4,512 shares of the technology company’s stock valued at $1,086,000 after purchasing an additional 64 shares in the last quarter. 97.35% of the stock is currently owned by institutional investors.

SBA Communications Stock Down 1.4 %

Shares of SBAC opened at $198.93 on Tuesday. SBA Communications Co. has a twelve month low of $183.64 and a twelve month high of $252.64. The company has a market capitalization of $21.39 billion, a P/E ratio of 31.38, a price-to-earnings-growth ratio of 0.72 and a beta of 0.69. The firm has a 50 day moving average of $216.44 and a 200 day moving average of $221.31.

SBA Communications (NASDAQ:SBAC) last posted its earnings results on Monday, October 28th. The technology company reported $2.40 EPS for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.77). SBA Communications had a negative return on equity of 13.13% and a net margin of 25.76%. The business had revenue of $667.60 million during the quarter, compared to the consensus estimate of $669.29 million. During the same period in the previous year, the business posted $3.34 EPS. The firm’s revenue for the quarter was down 2.2% on a year-over-year basis. On average, sell-side analysts expect that SBA Communications Co. will post 12.56 EPS for the current year.

SBA Communications Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 14th were paid a $0.98 dividend. The ex-dividend date was Thursday, November 14th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.97%. SBA Communications’s dividend payout ratio is presently 61.83%.

Insider Transactions at SBA Communications

In other SBA Communications news, EVP Mark R. Ciarfella sold 3,545 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $224.33, for a total transaction of $795,249.85. Following the completion of the sale, the executive vice president now directly owns 33,588 shares in the company, valued at $7,534,796.04. The trade was a 9.55 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Donald Day sold 2,321 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $203.43, for a total transaction of $472,161.03. Following the completion of the transaction, the executive vice president now owns 4,998 shares in the company, valued at $1,016,743.14. This trade represents a 31.71 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on the stock. StockNews.com upgraded shares of SBA Communications from a “hold” rating to a “buy” rating in a report on Thursday, November 7th. KeyCorp raised their target price on SBA Communications from $230.00 to $280.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $230.00 price target (down from $260.00) on shares of SBA Communications in a research note on Wednesday, December 18th. Raymond James raised their price objective on SBA Communications from $285.00 to $300.00 and gave the company a “strong-buy” rating in a research report on Tuesday, October 29th. Finally, Barclays upped their target price on shares of SBA Communications from $236.00 to $256.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Four research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, SBA Communications has a consensus rating of “Moderate Buy” and a consensus price target of $254.92.

SBA Communications 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.