Lamar Advertising Company $LAMR Shares Sold by Intech Investment Management LLC

Key Points

• Intech Investment Management LLC significantly reduced its stake in Lamar Advertising Company by 67.3%, selling 38,625 shares during the 1st quarter, leaving it with 18,767 shares valued at approximately $2.1 million.
• Analysts have varied opinions on LAMR, with Citigroup upgrading its rating from "neutral" to "buy" and raising its price target to $135.00, while Wells Fargo lowered its target to $119.00.
• Lamar Advertising recently announced a quarterly dividend of $1.55 per share, with a payout ratio of 144.19% and a yield of 4.9% based on the annualized rate.

Intech Investment Management LLC reduced its holdings in Lamar Advertising Company (NASDAQ:LAMR - Free Report) by 67.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,767 shares of the real estate investment trust's stock after selling 38,625 shares during the period. Intech Investment Management LLC's holdings in Lamar Advertising were worth $2,135,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Bessemer Group Inc. lifted its position in Lamar Advertising by 33.9% during the first quarter. Bessemer Group Inc. now owns 371 shares of the real estate investment trust's stock valued at $42,000 after purchasing an additional 94 shares during the period. MAI Capital Management grew its holdings in Lamar Advertising by 44.0% during the first quarter. MAI Capital Management now owns 360 shares of the real estate investment trust's stock worth $41,000 after acquiring an additional 110 shares during the period. Gilbert & Cook Inc. grew its holdings in Lamar Advertising by 2.7% during the first quarter. Gilbert & Cook Inc. now owns 4,455 shares of the real estate investment trust's stock worth $507,000 after acquiring an additional 117 shares during the period. Tocqueville Asset Management L.P. grew its holdings in Lamar Advertising by 0.5% during the first quarter. Tocqueville Asset Management L.P. now owns 21,993 shares of the real estate investment trust's stock worth $2,502,000 after acquiring an additional 120 shares during the period. Finally, Truvestments Capital LLC grew its holdings in Lamar Advertising by 79.5% during the first quarter. Truvestments Capital LLC now owns 316 shares of the real estate investment trust's stock worth $36,000 after acquiring an additional 140 shares during the period. 93.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Lamar Advertising

In related news, CFO Jay Lecoryelle Johnson sold 22,000 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $124.28, for a total transaction of $2,734,160.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 14.99% of the stock is owned by insiders.

Lamar Advertising Price Performance

NASDAQ LAMR traded down $1.29 on Thursday, hitting $125.32. The company had a trading volume of 488,829 shares, compared to its average volume of 622,759. The company has a market capitalization of $12.68 billion, a PE ratio of 29.14 and a beta of 1.38. The company's fifty day moving average price is $124.59 and its 200-day moving average price is $119.22. The company has a debt-to-equity ratio of 3.45, a current ratio of 0.58 and a quick ratio of 0.58. Lamar Advertising Company has a 12-month low of $99.84 and a 12-month high of $139.88.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last announced its earnings results on Friday, August 8th. The real estate investment trust reported $2.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.48 by $0.74. The business had revenue of $579.31 million for the quarter, compared to analyst estimates of $580.72 million. Lamar Advertising had a net margin of 19.72% and a return on equity of 41.85%. Lamar Advertising has set its FY 2025 guidance at 6.090-6.11 EPS. As a group, analysts predict that Lamar Advertising Company will post 7.92 earnings per share for the current year.

Lamar Advertising Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 19th will be issued a dividend of $1.55 per share. The ex-dividend date of this dividend is Friday, September 19th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 4.9%. Lamar Advertising's dividend payout ratio is presently 144.19%.

Wall Street Analysts Forecast Growth

LAMR has been the topic of several recent research reports. Wells Fargo & Company lowered their price objective on Lamar Advertising from $122.00 to $119.00 and set an "equal weight" rating on the stock in a research report on Monday, August 11th. Citigroup upgraded shares of Lamar Advertising from a "neutral" rating to a "buy" rating and boosted their target price for the company from $114.00 to $135.00 in a research note on Thursday, May 29th. JPMorgan Chase & Co. cut their price objective on shares of Lamar Advertising from $125.00 to $122.00 and set a "neutral" rating for the company in a report on Monday, August 11th. Finally, Morgan Stanley raised their target price on Lamar Advertising from $125.00 to $135.00 and gave the company an "equal weight" rating in a research report on Monday, August 4th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $134.20.

Lamar Advertising Company 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.