QRG Capital Management Inc. Increases Holdings in SBA Communications Co. (NASDAQ:SBAC)

QRG Capital Management Inc. lifted its holdings in SBA Communications Co. (NASDAQ:SBAC) by 1.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,775 shares of the technology company’s stock after acquiring an additional 120 shares during the period. QRG Capital Management Inc.’s holdings in SBA Communications were worth $1,381,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in SBAC. First Trust Direct Indexing L.P. lifted its stake in SBA Communications by 12.9% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 1,948 shares of the technology company’s stock worth $469,000 after purchasing an additional 222 shares in the last quarter. Financial Advocates Investment Management bought a new stake in shares of SBA Communications in the third quarter worth about $244,000. US Bancorp DE lifted its position in shares of SBA Communications by 0.7% in the third quarter. US Bancorp DE now owns 20,118 shares of the technology company’s stock worth $4,842,000 after buying an additional 134 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in SBA Communications by 32.5% during the third quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company’s stock valued at $52,000 after buying an additional 53 shares during the last quarter. Finally, Chicago Partners Investment Group LLC purchased a new position in SBA Communications during the 3rd quarter valued at approximately $403,000. Hedge funds and other institutional investors own 97.35% of the company’s stock.

Insider Buying and Selling

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 shares were sold at an average price of $203.43, for a total value of $472,161.03. Following the completion of the sale, the executive vice president now directly owns 4,998 shares of the company’s stock, valued at $1,016,743.14. The trade was a 31.71 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mark R. Ciarfella sold 3,545 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $224.33, for a total transaction of $795,249.85. Following the transaction, the executive vice president now directly owns 33,588 shares in the company, valued at approximately $7,534,796.04. This trade represents a 9.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by insiders.

SBA Communications Stock Up 1.7 %

SBAC opened at $221.51 on Tuesday. The business has a fifty day moving average of $204.17 and a 200 day moving average of $220.47. SBA Communications Co. has a 52-week low of $183.64 and a 52-week high of $252.64. The stock has a market cap of $23.82 billion, a P/E ratio of 34.94, a PEG ratio of 0.74 and a beta of 0.69.

SBA Communications Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be issued a $1.11 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This is a boost from SBA Communications’s previous quarterly dividend of $0.98. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.00%. SBA Communications’s dividend payout ratio is presently 63.98%.

Analysts Set New Price Targets

Several analysts have recently issued reports on SBAC shares. Wells Fargo & Company upped their price objective on SBA Communications from $210.00 to $225.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 26th. Barclays decreased their price target on shares of SBA Communications from $254.00 to $240.00 and set an “overweight” rating on the stock in a research note on Thursday, February 20th. JMP Securities initiated 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. BMO Capital Markets restated a “market perform” rating and set a $230.00 target price (down from $260.00) on shares of SBA Communications in a research report on Wednesday, December 18th. Finally, StockNews.com lowered SBA Communications from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. Five investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $253.07.

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.