Reaves W H & Co. Inc. Has $88.17 Million Position in SBA Communications Co. (NASDAQ:SBAC)

Reaves W H & Co. Inc. increased its holdings in shares of SBA Communications Co. (NASDAQ:SBAC) by 11.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 432,617 shares of the technology company’s stock after acquiring an additional 43,371 shares during the period. SBA Communications comprises about 2.3% of Reaves W H & Co. Inc.’s investment portfolio, making the stock its 17th biggest position. Reaves W H & Co. Inc. owned 0.40% of SBA Communications worth $88,167,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in SBAC. Auxano Advisors LLC boosted its position in SBA Communications by 2.3% in the fourth quarter. Auxano Advisors LLC now owns 2,431 shares of the technology company’s stock valued at $495,000 after buying an additional 54 shares in the last quarter. Modera Wealth Management LLC boosted its position in SBA Communications by 23.6% in the fourth quarter. Modera Wealth Management LLC now owns 4,541 shares of the technology company’s stock valued at $926,000 after buying an additional 867 shares in the last quarter. SRS Capital Advisors Inc. boosted its position in SBA Communications by 190.2% in the fourth quarter. SRS Capital Advisors Inc. now owns 1,709 shares of the technology company’s stock valued at $348,000 after buying an additional 1,120 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in SBA Communications by 67.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 395 shares of the technology company’s stock valued at $80,000 after buying an additional 159 shares in the last quarter. Finally, Sherman Asset Management Inc. acquired a new position in SBA Communications in the fourth quarter valued at about $73,000. 97.35% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Donald Day sold 2,321 shares of the firm’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $203.43, for a total transaction of $472,161.03. Following the sale, the executive vice president now directly owns 4,998 shares in the company, valued at $1,016,743.14. This trade represents a 31.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Mark R. Ciarfella sold 3,545 shares of the firm’s stock in a transaction 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 sale, the executive vice president now owns 33,588 shares in the company, valued at approximately $7,534,796.04. The trade was a 9.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on SBAC shares. Citizens Jmp upgraded shares of SBA Communications to a “strong-buy” rating in a research report on Monday, January 27th. Wells Fargo & Company upped their target price on shares of SBA Communications from $210.00 to $225.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 26th. JMP Securities assumed coverage on shares of SBA Communications in a research report on Monday, January 27th. They set an “outperform” rating and a $250.00 target price on the stock. Barclays reduced their target price on shares of SBA Communications from $254.00 to $240.00 and set an “overweight” rating on the stock in a research report on Thursday, February 20th. Finally, StockNews.com lowered shares of SBA Communications from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. Five equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $253.07.

SBA Communications Price Performance

Shares of NASDAQ SBAC opened at $221.51 on Tuesday. The company’s 50 day simple moving average is $204.17 and its 200 day simple moving average is $220.47. The firm has a market capitalization of $23.82 billion, a P/E ratio of 34.94, a P/E/G ratio of 0.74 and a beta of 0.69. SBA Communications Co. has a fifty-two week low of $183.64 and a fifty-two week high of $252.64.

SBA Communications Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders 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 positive change from SBA Communications’s previous quarterly dividend of $0.98. This represents a $4.44 annualized dividend and a yield of 2.00%. SBA Communications’s dividend payout ratio (DPR) is 63.98%.

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.