Envestnet Portfolio Solutions Inc. Has $1.17 Million Stock Position in SBA Communications Co. (NASDAQ:SBAC)

Envestnet Portfolio Solutions Inc. raised its position in shares of SBA Communications Co. (NASDAQ:SBAC) by 36.3% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 5,731 shares of the technology company’s stock after purchasing an additional 1,527 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in SBA Communications were worth $1,168,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp boosted its stake in shares of SBA Communications by 1.8% in the 3rd quarter. State Street Corp now owns 4,643,527 shares of the technology company’s stock valued at $1,117,697,000 after purchasing an additional 81,566 shares during the last quarter. JPMorgan Chase & Co. boosted its position in SBA Communications by 16.6% during the third 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 during the last quarter. Diamond Hill Capital Management Inc. grew its holdings in SBA Communications by 8.3% during the 4th quarter. Diamond Hill Capital Management Inc. now owns 1,861,091 shares of the technology company’s stock worth $379,290,000 after acquiring an additional 142,054 shares during the period. Victory Capital Management Inc. raised its position in shares of SBA Communications by 46.5% in the 4th quarter. Victory Capital Management Inc. now owns 1,781,231 shares of the technology company’s stock worth $363,015,000 after acquiring an additional 565,137 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of SBA Communications by 3.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,308,511 shares of the technology company’s stock valued at $266,675,000 after purchasing an additional 38,725 shares in the last quarter. Institutional investors own 97.35% of the company’s stock.

Analysts Set New Price Targets

SBAC has been the topic of a number of research analyst reports. JMP Securities started coverage on SBA Communications in a report on Monday, January 27th. They set an “outperform” rating and a $250.00 price target on the stock. Wells Fargo & Company boosted their price target 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. Citizens Jmp raised shares of SBA Communications to a “strong-buy” rating in a research report on Monday, January 27th. StockNews.com lowered SBA Communications from a “buy” rating to a “hold” rating in a report on Thursday, February 20th. Finally, BMO Capital Markets restated a “market perform” rating and issued a $230.00 target price (down previously from $260.00) on shares of SBA Communications in a report on Wednesday, December 18th. Five research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, SBA Communications has an average rating of “Moderate Buy” and a consensus price target of $252.85.

SBA Communications Stock Up 0.3 %

SBAC opened at $221.64 on Friday. The company’s 50-day moving average price is $209.59 and its two-hundred day moving average price is $220.10. SBA Communications Co. has a twelve month low of $183.64 and a twelve month high of $252.64. The stock has a market cap of $23.85 billion, a price-to-earnings ratio of 34.96, a PEG ratio of 0.74 and a beta of 0.74.

SBA Communications Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be given a $1.11 dividend. This is an increase from SBA Communications’s previous quarterly dividend of $0.98. This represents a $4.44 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date of this dividend is Thursday, March 13th. SBA Communications’s dividend payout ratio (DPR) is currently 63.98%.

Insider Buying and Selling at SBA Communications

In related news, VP Joshua Koenig sold 2,209 shares of SBA Communications stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $224.18, for a total value 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 approximately $1,362,790.22. This trade represents a 26.65 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.30% 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.