Lamar Advertising Company (NASDAQ:LAMR) Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. lowered its position in Lamar Advertising Company (NASDAQ:LAMR - Free Report) by 27.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,920 shares of the real estate investment trust's stock after selling 2,933 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Lamar Advertising were worth $901,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the business. Carmel Capital Partners LLC increased its stake in Lamar Advertising by 2.0% in the 4th quarter. Carmel Capital Partners LLC now owns 4,060 shares of the real estate investment trust's stock worth $494,000 after buying an additional 81 shares during the period. Tower Research Capital LLC TRC increased its holdings in Lamar Advertising by 1.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 7,121 shares of the real estate investment trust's stock worth $867,000 after purchasing an additional 81 shares during the period. Harbour Investments Inc. lifted its holdings in shares of Lamar Advertising by 12.1% in the 4th quarter. Harbour Investments Inc. now owns 878 shares of the real estate investment trust's stock worth $107,000 after buying an additional 95 shares during the period. Penobscot Investment Management Company Inc. increased its stake in shares of Lamar Advertising by 2.9% during the fourth quarter. Penobscot Investment Management Company Inc. now owns 3,499 shares of the real estate investment trust's stock valued at $426,000 after buying an additional 100 shares during the period. Finally, First Manhattan CO. LLC. lifted its stake in Lamar Advertising by 0.3% in the fourth quarter. First Manhattan CO. LLC. now owns 28,765 shares of the real estate investment trust's stock worth $3,502,000 after acquiring an additional 100 shares during the period. Hedge funds and other institutional investors own 93.78% of the company's stock.

Lamar Advertising Stock Down 0.3%

NASDAQ:LAMR traded down $0.32 during mid-day trading on Friday, hitting $120.85. 2,250,915 shares of the company's stock traded hands, compared to its average volume of 532,322. Lamar Advertising Company has a twelve month low of $99.84 and a twelve month high of $139.88. The company has a market capitalization of $12.37 billion, a P/E ratio of 29.33 and a beta of 1.34. The company has a debt-to-equity ratio of 2.89, a quick ratio of 0.57 and a current ratio of 0.57. The company has a fifty day moving average of $117.40 and a 200 day moving average of $119.41.

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

Lamar Advertising Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be paid a dividend of $1.55 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $6.20 annualized dividend and a yield of 5.13%. Lamar Advertising's payout ratio is presently 150.49%.

Analyst Ratings Changes

LAMR has been the topic of a number of recent research reports. Citigroup upgraded shares of Lamar Advertising from a "neutral" rating to a "buy" rating and increased their price objective for the company from $114.00 to $135.00 in a research note on Thursday, May 29th. Morgan Stanley decreased their price target on shares of Lamar Advertising from $135.00 to $125.00 and set an "equal weight" rating for the company in a research report on Thursday, May 1st. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $134.00.

About Lamar Advertising

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.