Skandinaviska Enskilda Banken AB publ Has $4.50 Million Stake in SBA Communications Co. (NASDAQ:SBAC)

Skandinaviska Enskilda Banken AB publ trimmed its position in shares of SBA Communications Co. (NASDAQ:SBAC) by 1.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,121 shares of the technology company’s stock after selling 412 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in SBA Communications were worth $4,499,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Vestcor Inc increased its holdings in SBA Communications by 3.1% during the fourth quarter. Vestcor Inc now owns 37,849 shares of the technology company’s stock worth $7,714,000 after buying an additional 1,148 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in SBA Communications by 1,101.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,093 shares of the technology company’s stock worth $223,000 after buying an additional 1,002 shares during the last quarter. HighTower Advisors LLC increased its holdings in SBA Communications by 0.8% during the fourth quarter. HighTower Advisors LLC now owns 46,627 shares of the technology company’s stock worth $9,503,000 after buying an additional 375 shares during the last quarter. Wealthfront Advisers LLC increased its holdings in SBA Communications by 23,553.0% during the fourth quarter. Wealthfront Advisers LLC now owns 1,126,828 shares of the technology company’s stock worth $229,648,000 after buying an additional 1,122,064 shares during the last quarter. Finally, Moran Wealth Management LLC bought a new position in SBA Communications during the fourth quarter worth $13,706,000. 97.35% of the stock is currently owned by institutional investors and hedge funds.

SBA Communications Stock Up 1.7 %

SBAC opened at $218.23 on Friday. SBA Communications Co. has a twelve month low of $183.64 and a twelve month high of $252.64. The company has a 50-day simple moving average of $207.20 and a 200 day simple moving average of $220.32. The stock has a market capitalization of $23.48 billion, a price-to-earnings ratio of 34.42, a P/E/G ratio of 0.74 and a beta of 0.74.

SBA Communications Increases Dividend

The firm also recently announced 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. This is an increase from SBA Communications’s previous quarterly dividend of $0.98. The ex-dividend date is Thursday, March 13th. This represents a $4.44 annualized dividend and a yield of 2.03%. SBA Communications’s payout ratio is presently 63.98%.

Analyst Ratings Changes

A number of equities analysts have commented on SBAC shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $255.00 price objective on shares of SBA Communications in a research report on Monday, February 24th. JMP Securities started coverage on shares of SBA Communications in a research report on Monday, January 27th. They set an “outperform” rating and a $250.00 price objective for the company. BMO Capital Markets reaffirmed a “market perform” rating and set a $230.00 price objective (down from $260.00) on shares of SBA Communications in a research report on Wednesday, December 18th. StockNews.com cut shares of SBA Communications from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. Finally, Citizens Jmp raised shares of SBA Communications to a “strong-buy” rating in a research report on Monday, January 27th. Five research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, SBA Communications currently has an average rating of “Moderate Buy” and an average target price of $252.54.

Insiders Place Their Bets

In other SBA Communications news, EVP Donald Day sold 2,321 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $1,016,743.14. The trade was a 31.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Joshua Koenig sold 2,209 shares of the business’s 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 transaction, the vice president now directly owns 6,079 shares of the company’s stock, valued at approximately $1,362,790.22. The trade was a 26.65 % decrease in their position. The disclosure for this sale can be found here. 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.