Pictet Asset Management Holding SA Acquires 1,774 Shares of SBA Communications Co. (NASDAQ:SBAC)

Pictet Asset Management Holding SA lifted its holdings in shares of SBA Communications Co. (NASDAQ:SBAC) by 0.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 220,756 shares of the technology company’s stock after purchasing an additional 1,774 shares during the period. Pictet Asset Management Holding SA owned about 0.21% of SBA Communications worth $44,990,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in SBAC. State Street Corp grew its holdings in SBA Communications by 1.8% during the third quarter. State Street Corp now owns 4,643,527 shares of the technology company’s stock valued at $1,117,697,000 after purchasing an additional 81,566 shares during the period. JPMorgan Chase & Co. grew its stake in shares of SBA Communications by 16.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,254,460 shares of the technology company’s stock worth $1,024,049,000 after acquiring an additional 605,872 shares during the period. Diamond Hill Capital Management Inc. raised its stake in SBA Communications by 8.3% in the 4th quarter. Diamond Hill Capital Management Inc. now owns 1,861,091 shares of the technology company’s stock valued at $379,290,000 after acquiring an additional 142,054 shares during the period. Victory Capital Management Inc. raised its stake 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 valued at $363,015,000 after acquiring an additional 565,137 shares during the period. Finally, Norges Bank bought a new position in SBA Communications during the fourth quarter worth about $268,287,000. Institutional investors own 97.35% of the company’s stock.

SBA Communications Stock Up 0.2 %

NASDAQ SBAC opened at $216.84 on Monday. The stock’s 50-day simple moving average is $211.31 and its two-hundred day simple moving average is $219.20. SBA Communications Co. has a twelve month low of $183.64 and a twelve month high of $252.64. The company has a market capitalization of $23.34 billion, a price-to-earnings ratio of 34.20, a PEG ratio of 0.74 and a beta of 0.74.

SBA Communications Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were given a $1.11 dividend. This is an increase from SBA Communications’s previous quarterly dividend of $0.98. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $4.44 dividend on an annualized basis and a yield of 2.05%. SBA Communications’s payout ratio is presently 63.98%.

Insiders Place Their Bets

In other news, VP Joshua Koenig sold 2,209 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $1,362,790.22. This trade represents a 26.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.30% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on SBAC. Citizens Jmp raised shares of SBA Communications to a “strong-buy” rating in a research report on Monday, January 27th. BMO Capital Markets restated a “market perform” rating and set a $230.00 target price (down previously from $260.00) on shares of SBA Communications in a research report on Wednesday, December 18th. Wells Fargo & Company lifted their price target on SBA Communications from $210.00 to $225.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 26th. Royal Bank of Canada reissued an “outperform” rating and set a $255.00 price objective on shares of SBA Communications in a report on Monday, February 24th. Finally, StockNews.com raised SBA Communications from a “hold” rating to a “buy” rating in a report on Tuesday, March 25th. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $252.85.

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.