Envestnet Asset Management Inc. Raises Stock Holdings in Lamar Advertising Company (NASDAQ:LAMR)

Envestnet Asset Management Inc. raised its position in shares of Lamar Advertising Company (NASDAQ:LAMR - Free Report) by 5.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 454,396 shares of the real estate investment trust's stock after purchasing an additional 22,671 shares during the period. Envestnet Asset Management Inc. owned approximately 0.44% of Lamar Advertising worth $51,701,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Golden State Wealth Management LLC bought a new stake in Lamar Advertising in the 1st quarter worth approximately $28,000. ST Germain D J Co. Inc. lifted its holdings in shares of Lamar Advertising by 346.0% in the 1st quarter. ST Germain D J Co. Inc. now owns 281 shares of the real estate investment trust's stock worth $32,000 after acquiring an additional 218 shares during the last quarter. Bessemer Group Inc. boosted its stake in shares of Lamar Advertising by 106.7% in the 4th quarter. Bessemer Group Inc. now owns 277 shares of the real estate investment trust's stock valued at $34,000 after purchasing an additional 143 shares in the last quarter. Wayfinding Financial LLC bought a new stake in Lamar Advertising in the first quarter worth $60,000. Finally, McIlrath & Eck LLC boosted its position in Lamar Advertising by 175.1% during the fourth quarter. McIlrath & Eck LLC now owns 707 shares of the real estate investment trust's stock valued at $86,000 after buying an additional 450 shares during the period. 93.78% of the stock is currently owned by hedge funds and other institutional investors.

Lamar Advertising Trading Up 1.3%

Shares of Lamar Advertising stock traded up $1.57 during trading on Wednesday, reaching $125.11. 350,796 shares of the stock were exchanged, compared to its average volume of 531,779. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 2.89. The firm has a market cap of $12.81 billion, a price-to-earnings ratio of 30.37 and a beta of 1.33. Lamar Advertising Company has a 1 year low of $99.84 and a 1 year high of $139.88. The stock's fifty day moving average is $120.25 and its 200 day moving average is $119.20.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The real estate investment trust reported $1.60 EPS for the quarter, beating analysts' consensus estimates of $1.54 by $0.06. Lamar Advertising had a return on equity of 37.62% and a net margin of 19.08%. The business had revenue of $505.43 million during the quarter, compared to analyst estimates of $509.72 million. As a group, equities research analysts expect that Lamar Advertising Company will post 7.92 earnings per share for the current fiscal year.

Lamar Advertising Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were paid a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a dividend yield of 4.96%. The ex-dividend date was Monday, June 16th. Lamar Advertising's payout ratio is 150.49%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on LAMR shares. Morgan Stanley lowered their target price on Lamar Advertising from $135.00 to $125.00 and set an "equal weight" rating for the company in a research note on Thursday, May 1st. Citigroup raised Lamar Advertising from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $114.00 to $135.00 in a research note on Thursday, May 29th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $134.00.

Lamar Advertising Profile

Lamar Advertising Company operates as an outdoor advertising company in the United States and Canada. The company owns and operates billboards, logo signs, and transit advertising displays, as well as rents space for advertising on billboards, buses, shelters, benches, logo plates, and in airport terminals.