Lamar Advertising Company (NASDAQ:LAMR) Stock Holdings Trimmed by Federated Hermes Inc.

Key Points

• Federated Hermes Inc. sold 35,007 shares of Lamar Advertising Company, reducing its stake by 13.5%, leaving them with 224,089 shares valued at approximately $25.5 million.
• Wall Street analysts have mixed views on Lamar Advertising, with Morgan Stanley lowering its price target while Citigroup upgraded the stock from "neutral" to "buy."
• Lamar Advertising’s recent quarterly earnings beat estimates with earnings of $1.60 per share, although revenue of $505.43 million fell short of expectations.

Federated Hermes Inc. decreased its stake in shares of Lamar Advertising Company (NASDAQ:LAMR - Free Report) by 13.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 224,089 shares of the real estate investment trust's stock after selling 35,007 shares during the period. Federated Hermes Inc. owned about 0.22% of Lamar Advertising worth $25,497,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. LPL Financial LLC increased its position in shares of Lamar Advertising by 11.2% during the 4th quarter. LPL Financial LLC now owns 94,019 shares of the real estate investment trust's stock valued at $11,446,000 after purchasing an additional 9,455 shares during the last quarter. Blair William & Co. IL grew its stake in Lamar Advertising by 9.8% in the fourth quarter. Blair William & Co. IL now owns 5,295 shares of the real estate investment trust's stock worth $645,000 after purchasing an additional 472 shares during the period. Norges Bank bought a new position in shares of Lamar Advertising in the 4th quarter worth about $57,255,000. Pictet Asset Management Holding SA raised its stake in Lamar Advertising by 9.9% during the fourth quarter. Pictet Asset Management Holding SA now owns 12,042 shares of the real estate investment trust's stock valued at $1,466,000 after buying an additional 1,087 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC increased its stake in Lamar Advertising by 3.4% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 6,907 shares of the real estate investment trust's stock valued at $841,000 after purchasing an additional 226 shares in the last quarter. 93.78% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on LAMR. Morgan Stanley boosted their price target on Lamar Advertising from $125.00 to $135.00 and gave the company an "equal weight" rating in a research note on Monday. Citigroup raised shares of Lamar Advertising from a "neutral" rating to a "buy" rating and upped their price target for the company from $114.00 to $135.00 in a research note on Thursday, May 29th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $136.00.

Lamar Advertising Price Performance

LAMR traded up $2.47 during trading on Monday, reaching $123.38. The company's stock had a trading volume of 226,425 shares, compared to its average volume of 604,756. 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 fifty day simple moving average of $122.16 and a two-hundred day simple moving average of $119.54. The company has a market cap of $12.63 billion, a price-to-earnings ratio of 30.00 and a beta of 1.36. Lamar Advertising Company has a 1 year low of $99.84 and a 1 year high of $139.88.

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

Lamar Advertising Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were given a dividend of $1.55 per share. The ex-dividend date was Monday, June 16th. This represents a $6.20 dividend on an annualized basis and a yield of 5.0%. Lamar Advertising's dividend payout ratio (DPR) is 150.49%.

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.