Prudential PLC Has $12.31 Million Stock Holdings in SBA Communications Co. (NASDAQ:SBAC)

Prudential PLC lifted its position in SBA Communications Co. (NASDAQ:SBAC) by 4.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 60,420 shares of the technology company’s stock after buying an additional 2,382 shares during the quarter. Prudential PLC owned about 0.06% of SBA Communications worth $12,314,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Norges Bank acquired a new position in SBA Communications during the 4th quarter worth $268,287,000. Wealthfront Advisers LLC lifted its position in shares of SBA Communications by 23,553.0% during the 4th quarter. Wealthfront Advisers LLC now owns 1,126,828 shares of the technology company’s stock worth $229,648,000 after purchasing an additional 1,122,064 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in SBA Communications by 16.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,254,460 shares of the technology company’s stock valued at $1,024,049,000 after purchasing an additional 605,872 shares during the period. Victory Capital Management Inc. grew its holdings 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 buying an additional 565,137 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC increased its position in SBA Communications by 39.6% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,100,724 shares of the technology company’s stock worth $224,328,000 after buying an additional 312,125 shares during the period. 97.35% of the stock is owned by institutional investors.

SBA Communications Stock Down 4.7 %

Shares of SBAC stock opened at $219.91 on Friday. The company has a market capitalization of $23.67 billion, a P/E ratio of 34.69, a P/E/G ratio of 0.74 and a beta of 0.74. SBA Communications Co. has a 12-month low of $183.64 and a 12-month high of $252.64. The firm has a 50-day moving average price of $213.48 and a 200 day moving average price of $218.81.

SBA Communications Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were issued a $1.11 dividend. This is an increase from SBA Communications’s previous quarterly dividend of $0.98. This represents a $4.44 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend was Thursday, March 13th. SBA Communications’s payout ratio is presently 63.98%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. StockNews.com cut SBA Communications from a “buy” rating to a “hold” rating in a research report on Wednesday. Barclays raised their price target on shares of SBA Communications from $240.00 to $244.00 and gave the stock an “overweight” rating in a research report on Friday, March 21st. BMO Capital Markets restated a “market perform” rating and set a $230.00 price objective (down previously from $260.00) on shares of SBA Communications in a report on Wednesday, December 18th. 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 target price for the company. Finally, Citizens Jmp upgraded SBA Communications to a “strong-buy” rating in a research note on Monday, January 27th. Six analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $251.92.

Insider Activity at SBA Communications

In other news, VP Joshua Koenig sold 2,209 shares of the firm’s stock in a transaction on Friday, March 7th. The stock was 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 in the company, 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 SEC, which is available through this link. Insiders own 1.30% of the company’s stock.

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.