SBA Communications Co. (NASDAQ:SBAC) Shares Bought by Caisse DE Depot ET Placement DU Quebec

Caisse DE Depot ET Placement DU Quebec raised its holdings in shares of SBA Communications Co. (NASDAQ:SBAC) by 22.5% in the 4th quarter, HoldingsChannel reports. The fund owned 307,839 shares of the technology company’s stock after buying an additional 56,511 shares during the quarter. Caisse DE Depot ET Placement DU Quebec’s holdings in SBA Communications were worth $62,738,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Oak Thistle LLC boosted its holdings in SBA Communications by 76.1% in the fourth quarter. Oak Thistle LLC now owns 6,623 shares of the technology company’s stock valued at $1,350,000 after purchasing an additional 2,863 shares in the last quarter. Czech National Bank grew its position in shares of SBA Communications by 6.5% in the 4th quarter. Czech National Bank now owns 23,314 shares of the technology company’s stock valued at $4,751,000 after buying an additional 1,421 shares during the last quarter. First Hawaiian Bank raised its stake in SBA Communications by 91.0% during the 4th quarter. First Hawaiian Bank now owns 12,377 shares of the technology company’s stock worth $2,522,000 after acquiring an additional 5,897 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in SBA Communications by 3.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,308,511 shares of the technology company’s stock valued at $266,675,000 after acquiring an additional 38,725 shares during the last quarter. Finally, Nordea Investment Management AB boosted its stake in SBA Communications by 49.3% in the fourth quarter. Nordea Investment Management AB now owns 687,496 shares of the technology company’s stock valued at $141,205,000 after acquiring an additional 226,878 shares in the last quarter. Hedge funds and other institutional investors own 97.35% of the company’s stock.

SBA Communications Trading Down 1.1 %

Shares of SBAC opened at $240.74 on Friday. The firm has a market capitalization of $25.91 billion, a PE ratio of 37.97, a P/E/G ratio of 0.74 and a beta of 0.83. The stock’s 50 day moving average is $221.19 and its two-hundred day moving average is $216.71. SBA Communications Co. has a twelve month low of $185.44 and a twelve month high of $252.64.

SBA Communications Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Investors of record on Thursday, May 22nd will be issued a dividend of $1.11 per share. This represents a $4.44 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date is Thursday, May 22nd. SBA Communications’s dividend payout ratio is presently 60.91%.

Insiders Place Their Bets

In other news, VP Joshua Koenig sold 2,209 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $224.18, for a total value of $495,213.62. Following the completion of the transaction, the vice president now owns 6,079 shares in the company, valued at $1,362,790.22. This trade represents a 26.65 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.92% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on SBAC. Morgan Stanley initiated coverage on SBA Communications in a report on Tuesday, April 1st. They issued an “equal weight” rating and a $240.00 target price for the company. Barclays boosted their price objective on SBA Communications from $244.00 to $247.00 and gave the company an “overweight” rating in a research note on Tuesday. Citigroup raised their target price on shares of SBA Communications from $250.00 to $265.00 and gave the stock a “buy” rating in a research report on Tuesday. Raymond James reiterated a “strong-buy” rating and issued a $268.00 price target (up previously from $265.00) on shares of SBA Communications in a research report on Tuesday. Finally, JMP Securities raised their price objective on shares of SBA Communications from $250.00 to $270.00 and gave the stock a “market outperform” rating in a research report on Tuesday. Six equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $252.38.

About SBA Communications

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.