Johnson Financial Group Inc. Cuts Position in SBA Communications Co. (NASDAQ:SBAC)

Johnson Financial Group Inc. lowered its holdings in shares of SBA Communications Co. (NASDAQ:SBAC) by 90.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 179 shares of the technology company’s stock after selling 1,609 shares during the quarter. Johnson Financial Group Inc.’s holdings in SBA Communications were worth $35,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Dodge & Cox raised its position in SBA Communications by 352.5% during the fourth quarter. Dodge & Cox now owns 7,346,255 shares of the technology company’s stock worth $1,497,167,000 after acquiring an additional 5,722,740 shares during the period. Norges Bank purchased a new stake in shares of SBA Communications during the fourth quarter worth about $268,287,000. Wealthfront Advisers LLC raised its position in shares of SBA Communications by 23,553.0% during the 4th quarter. Wealthfront Advisers LLC now owns 1,126,828 shares of the technology company’s stock worth $229,648,000 after purchasing an additional 1,122,064 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in SBA Communications by 16.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,254,460 shares of the technology company’s stock valued at $1,024,049,000 after buying an additional 605,872 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in 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 buying an additional 565,137 shares during the last quarter. 97.35% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other SBA Communications news, VP Joshua Koenig sold 2,209 shares of the company’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $224.18, for a total transaction of $495,213.62. Following the transaction, the vice president now directly owns 6,079 shares in the company, valued at $1,362,790.22. This represents a 26.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.92% of the stock is currently owned by corporate insiders.

SBA Communications Trading Up 6.8 %

Shares of SBAC opened at $238.50 on Wednesday. The company’s 50-day moving average price is $220.02 and its 200 day moving average price is $216.52. SBA Communications Co. has a 12-month low of $183.64 and a 12-month high of $252.64. The firm has a market cap of $25.67 billion, a P/E ratio of 37.62, a price-to-earnings-growth ratio of 0.74 and a beta of 0.83.

SBA Communications Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Stockholders of record on Thursday, May 22nd will be issued a $1.11 dividend. The ex-dividend date is Thursday, May 22nd. This represents a $4.44 annualized dividend and a dividend yield of 1.86%. SBA Communications’s dividend payout ratio is currently 63.98%.

Analyst Upgrades and Downgrades

SBAC has been the topic of several research reports. JMP Securities raised their target price on SBA Communications from $250.00 to $270.00 and gave the company a “market outperform” rating in a research report on Tuesday. Raymond James restated a “strong-buy” rating and issued a $268.00 price objective (up previously from $265.00) on shares of SBA Communications in a report on Tuesday. Barclays upped their target price on shares of SBA Communications from $244.00 to $247.00 and gave the stock an “overweight” rating in a report on Tuesday. BMO Capital Markets raised their price target on shares of SBA Communications from $230.00 to $240.00 and gave the stock a “market perform” rating in a research note on Tuesday. Finally, Citizens Jmp raised shares of SBA Communications to a “strong-buy” rating in a research note on Monday, January 27th. Six research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $252.38.

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.