Barrow Hanley Mewhinney & Strauss LLC Grows Stake in SBA Communications Co. (NASDAQ:SBAC)

Barrow Hanley Mewhinney & Strauss LLC increased its holdings in SBA Communications Co. (NASDAQ:SBAC) by 39.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,100,724 shares of the technology company’s stock after purchasing an additional 312,125 shares during the period. Barrow Hanley Mewhinney & Strauss LLC owned 1.02% of SBA Communications worth $224,328,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Evermay Wealth Management LLC purchased a new position in shares of SBA Communications in the fourth quarter worth $27,000. Graney & King LLC purchased a new stake in SBA Communications in the 4th quarter worth $29,000. Oakworth Capital Inc. boosted its holdings in shares of SBA Communications by 161.8% during the 4th quarter. Oakworth Capital Inc. now owns 233 shares of the technology company’s stock valued at $47,000 after purchasing an additional 144 shares during the last quarter. CKW Financial Group purchased a new position in shares of SBA Communications during the fourth quarter valued at about $56,000. Finally, Versant Capital Management Inc increased its holdings in shares of SBA Communications by 17.3% in the fourth 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 last quarter. 97.35% of the stock is currently owned by institutional investors.

SBA Communications Stock Up 0.2 %

SBAC stock opened at $216.84 on Friday. SBA Communications Co. has a twelve month low of $183.64 and a twelve month high of $252.64. The firm has a market cap of $23.34 billion, a price-to-earnings ratio of 34.20, a PEG ratio of 0.74 and a beta of 0.74. The business’s fifty day simple moving average is $211.31 and its two-hundred day simple moving average is $219.36.

SBA Communications Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were issued a dividend of $1.11 per share. This is a positive change from SBA Communications’s previous quarterly dividend of $0.98. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $4.44 dividend on an annualized basis and a yield of 2.05%. SBA Communications’s dividend payout ratio (DPR) is presently 63.98%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Citizens Jmp raised SBA Communications to a “strong-buy” rating in a research note on Monday, January 27th. Barclays raised their target price on shares of SBA Communications from $240.00 to $244.00 and gave the company an “overweight” rating in a report on Friday, March 21st. StockNews.com raised shares of SBA Communications from a “hold” rating to a “buy” rating in a research note on Tuesday, March 25th. Royal Bank of Canada reissued an “outperform” rating and issued a $255.00 price objective on shares of SBA Communications in a research note on Monday, February 24th. Finally, Wells Fargo & Company upped their target price on shares of SBA Communications from $210.00 to $225.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 26th. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, SBA Communications has a consensus rating of “Moderate Buy” and an average target price of $252.85.

Insider Buying and Selling at SBA Communications

In related news, VP Joshua Koenig sold 2,209 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at approximately $1,362,790.22. The trade was a 26.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.30% of the stock is owned by corporate insiders.

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.