Russell Investments Group Ltd. Boosts Position in SBA Communications Co. (NASDAQ:SBAC)

Russell Investments Group Ltd. boosted its position in shares of SBA Communications Co. (NASDAQ:SBAC) by 8.8% during the fourth quarter, Holdings Channel reports. The firm owned 484,332 shares of the technology company’s stock after buying an additional 39,307 shares during the quarter. Russell Investments Group Ltd.’s holdings in SBA Communications were worth $122,883,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of SBAC. CWM LLC boosted its position in SBA Communications by 9.8% during the third quarter. CWM LLC now owns 1,049 shares of the technology company’s stock worth $210,000 after purchasing an additional 94 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of SBA Communications by 10.8% in the third quarter. SG Americas Securities LLC now owns 6,881 shares of the technology company’s stock valued at $1,377,000 after acquiring an additional 670 shares in the last quarter. CreativeOne Wealth LLC purchased a new stake in shares of SBA Communications in the third quarter valued at $202,000. Czech National Bank lifted its position in shares of SBA Communications by 47.7% in the third quarter. Czech National Bank now owns 18,943 shares of the technology company’s stock valued at $3,792,000 after acquiring an additional 6,118 shares in the last quarter. Finally, Asset Management One Co. Ltd. lifted its position in shares of SBA Communications by 0.4% in the third quarter. Asset Management One Co. Ltd. now owns 43,284 shares of the technology company’s stock valued at $8,664,000 after acquiring an additional 188 shares in the last quarter. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

SBA Communications Trading Down 0.9 %

NASDAQ:SBAC traded down $1.70 on Friday, hitting $196.23. 644,235 shares of the stock were exchanged, compared to its average volume of 826,238. The stock has a market cap of $21.21 billion, a PE ratio of 42.57, a PEG ratio of 1.21 and a beta of 0.56. The stock has a fifty day moving average of $210.01 and a 200-day moving average of $222.70. SBA Communications Co. has a fifty-two week low of $185.23 and a fifty-two week high of $263.08.

SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings results on Monday, February 26th. The technology company reported $1.01 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.36). The firm had revenue of $675.00 million for the quarter, compared to analyst estimates of $682.11 million. SBA Communications had a negative return on equity of 9.70% and a net margin of 18.51%. The business’s revenue was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.11 earnings per share. As a group, analysts predict that SBA Communications Co. will post 12.61 earnings per share for the current year.

SBA Communications Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were paid a dividend of $0.98 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This is a positive change from SBA Communications’s previous quarterly dividend of $0.85. This represents a $3.92 annualized dividend and a yield of 2.00%. SBA Communications’s dividend payout ratio is currently 85.03%.

Insiders Place Their Bets

In other news, Director Mary S. Chan sold 1,977 shares of the stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $217.99, for a total value of $430,966.23. Following the completion of the sale, the director now owns 4,622 shares in the company, valued at $1,007,549.78. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

SBAC has been the topic of several recent research reports. BMO Capital Markets reduced their price objective on SBA Communications from $285.00 to $265.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 27th. Bank of America upgraded SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 price objective on the stock in a research report on Thursday, March 7th. Finally, Barclays reduced their price objective on SBA Communications from $260.00 to $255.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 17th. One analyst has rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $268.00.

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.