SBA Communications Co. (NASDAQ:SBAC) Shares Bought by Jackson Square Partners LLC

Jackson Square Partners LLC grew its stake in SBA Communications Co. (NASDAQ:SBAC) by 24.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,678 shares of the technology company’s stock after purchasing an additional 5,052 shares during the period. Jackson Square Partners LLC’s holdings in SBA Communications were worth $5,233,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Oak Thistle LLC raised its position in SBA Communications by 76.1% during the 4th quarter. Oak Thistle LLC now owns 6,623 shares of the technology company’s stock worth $1,350,000 after buying an additional 2,863 shares during the last quarter. Czech National Bank increased its stake in shares of SBA Communications by 6.5% during the fourth quarter. Czech National Bank now owns 23,314 shares of the technology company’s stock worth $4,751,000 after acquiring an additional 1,421 shares during the period. Caisse DE Depot ET Placement DU Quebec lifted its position in SBA Communications by 14,529.1% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 251,328 shares of the technology company’s stock valued at $60,495,000 after purchasing an additional 249,610 shares during the period. First Hawaiian Bank boosted its holdings in SBA Communications by 91.0% in the 4th quarter. First Hawaiian Bank now owns 12,377 shares of the technology company’s stock valued at $2,522,000 after purchasing an additional 5,897 shares in the last quarter. Finally, Bank of Montreal Can increased its position in SBA Communications by 135.5% during the 3rd quarter. Bank of Montreal Can now owns 420,514 shares of the technology company’s stock worth $100,351,000 after purchasing an additional 241,916 shares during the period. Hedge funds and other institutional investors own 97.35% of the company’s stock.

Insider Buying and Selling at SBA Communications

In related news, VP Joshua Koenig sold 2,209 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $224.18, for a total transaction 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 represents a 26.65 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.30% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on SBAC. Royal Bank of Canada restated an “outperform” rating and issued a $255.00 price target on shares of SBA Communications in a research note on Monday, February 24th. Citizens Jmp raised shares of SBA Communications to a “strong-buy” rating in a research note on Monday, January 27th. JMP Securities started coverage on shares of SBA Communications in a research note on Monday, January 27th. They issued an “outperform” rating and a $250.00 price objective for the company. StockNews.com lowered shares of SBA Communications from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. Finally, Barclays lifted their price target on shares of SBA Communications from $240.00 to $244.00 and gave the company an “overweight” rating in a research report on Friday. Five equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $252.85.

SBA Communications Price Performance

SBAC opened at $218.69 on Tuesday. The stock has a market capitalization of $23.53 billion, a price-to-earnings ratio of 34.49, a price-to-earnings-growth ratio of 0.74 and a beta of 0.74. SBA Communications Co. has a 12 month low of $183.64 and a 12 month high of $252.64. The business has a 50-day moving average of $210.06 and a two-hundred day moving average of $219.90.

SBA Communications Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be paid a dividend of $1.11 per share. The ex-dividend date is Thursday, March 13th. This represents a $4.44 dividend on an annualized basis and a yield of 2.03%. This is an increase from SBA Communications’s previous quarterly dividend of $0.98. SBA Communications’s dividend payout ratio (DPR) is currently 63.98%.

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.