Natixis Advisors LLC Purchases 5,943 Shares of SBA Communications Co. (NASDAQ:SBAC)

Natixis Advisors LLC increased its position in SBA Communications Co. (NASDAQ:SBAC) by 7.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,778 shares of the technology company’s stock after purchasing an additional 5,943 shares during the period. Natixis Advisors LLC owned approximately 0.08% of SBA Communications worth $16,463,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Frank Rimerman Advisors LLC boosted its stake in SBA Communications by 9.1% in the 4th quarter. Frank Rimerman Advisors LLC now owns 2,361 shares of the technology company’s stock worth $481,000 after purchasing an additional 197 shares in the last quarter. Intact Investment Management Inc. boosted its stake in SBA Communications by 37.8% in the 4th quarter. Intact Investment Management Inc. now owns 5,100 shares of the technology company’s stock worth $1,039,000 after purchasing an additional 1,400 shares in the last quarter. Diamond Hill Capital Management Inc. boosted 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 worth $379,290,000 after purchasing an additional 142,054 shares in the last quarter. Renasant Bank bought a new position in SBA Communications in the 4th quarter worth about $577,000. Finally, LBP AM SA boosted its stake in SBA Communications by 20.6% in the 4th quarter. LBP AM SA now owns 93,032 shares of the technology company’s stock worth $18,960,000 after purchasing an additional 15,884 shares in the last quarter. Institutional investors own 97.35% of the company’s stock.

Insider Buying and Selling

In related news, VP Joshua Koenig sold 2,209 shares of the stock in a transaction that occurred on 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 sale, the vice president now directly owns 6,079 shares of the company’s stock, valued at approximately $1,362,790.22. This represents a 26.65 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Donald Day sold 2,321 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $203.43, for a total transaction 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. This represents a 31.71 % 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 1.0 %

NASDAQ SBAC opened at $223.15 on Wednesday. The company has a 50-day moving average price of $208.18 and a 200-day moving average price of $220.21. The firm has a market capitalization of $24.01 billion, a P/E ratio of 35.20, a PEG ratio of 0.74 and a beta of 0.74. SBA Communications Co. has a 52 week low of $183.64 and a 52 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. Investors of record on Thursday, March 13th will be issued a $1.11 dividend. This represents a $4.44 annualized dividend and a yield of 1.99%. This is a positive change from SBA Communications’s previous quarterly dividend of $0.98. The ex-dividend date is Thursday, March 13th. SBA Communications’s dividend payout ratio is currently 63.98%.

Wall Street Analyst Weigh In

SBAC has been the topic of several research analyst reports. JMP Securities initiated coverage on shares of SBA Communications in a research note on Monday, January 27th. They set an “outperform” rating and a $250.00 target price on the stock. Citizens Jmp upgraded shares of SBA Communications to a “strong-buy” rating in a research note 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 note on Wednesday, December 18th. Wells Fargo & Company upped their target price on shares of SBA Communications from $210.00 to $225.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 26th. Finally, Barclays lowered 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 note on Thursday, February 20th. Five research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $252.54.

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.