Orion Portfolio Solutions LLC Has $1.01 Million Stake in SBA Communications Co. (NASDAQ:SBAC)

Orion Portfolio Solutions LLC lifted its position in shares of SBA Communications Co. (NASDAQ:SBAC) by 1.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,962 shares of the technology company’s stock after buying an additional 64 shares during the period. Orion Portfolio Solutions LLC’s holdings in SBA Communications were worth $1,011,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of SBAC. Evermay Wealth Management LLC bought a new position in shares of SBA Communications during the 4th quarter worth approximately $27,000. Graney & King LLC bought a new stake in SBA Communications during the 4th quarter worth about $29,000. Oakworth Capital Inc. boosted its stake in shares of SBA Communications by 161.8% during the 4th quarter. Oakworth Capital Inc. now owns 233 shares of the technology company’s stock worth $47,000 after buying an additional 144 shares during the last quarter. CKW Financial Group acquired a new position in SBA Communications during the fourth quarter valued at approximately $56,000. Finally, Versant Capital Management Inc raised its stake in shares of SBA Communications by 17.3% during the 4th quarter. Versant Capital Management Inc now owns 360 shares of the technology company’s stock worth $73,000 after purchasing an additional 53 shares in the last quarter. 97.35% of the stock is currently owned by institutional investors.

SBA Communications Stock Performance

Shares of SBA Communications stock opened at $219.91 on Friday. 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 $23.67 billion, a PE ratio of 34.69, a PEG ratio of 0.74 and a beta of 0.74. The firm has a 50-day moving average of $213.48 and a 200-day moving average of $218.63.

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 dividend of $1.11 per share. The ex-dividend date of this dividend was Thursday, March 13th. This is a boost from SBA Communications’s previous quarterly dividend of $0.98. This represents a $4.44 annualized dividend and a dividend yield of 2.02%. SBA Communications’s dividend payout ratio (DPR) is currently 63.98%.

Insider Activity

In other SBA Communications 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 transaction of $495,213.62. Following the transaction, the vice president now owns 6,079 shares in the company, valued at $1,362,790.22. This trade represents a 26.65 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.30% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Citizens Jmp raised shares of SBA Communications to a “strong-buy” rating in a research note on Monday, January 27th. Morgan Stanley initiated coverage on shares of SBA Communications in a research note on Tuesday, April 1st. They set an “equal weight” rating and a $240.00 price objective on the stock. Wells Fargo & Company raised 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. Barclays boosted their price target on SBA Communications from $240.00 to $244.00 and gave the stock an “overweight” rating in a research report on Friday, March 21st. Finally, StockNews.com cut SBA Communications from a “buy” rating to a “hold” rating in a research report on Wednesday. Six research 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 stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $251.92.

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.