Lamar Advertising Company $LAMR Shares Purchased by Envestnet Portfolio Solutions Inc.

Key Points

• Envestnet Portfolio Solutions Inc. increased its stake in Lamar Advertising Company by 75.4%, bringing its ownership to 13,892 shares valued at approximately $1.69 million.
• Lamar Advertising recently announced a quarterly dividend of $1.55 per share, yielding about 5.2% annually, with a high dividend payout ratio of 144.19%.
• Analysts have a consensus rating of "Moderate Buy" for Lamar Advertising shares, with an average target price set at $134.20.

Envestnet Portfolio Solutions Inc. boosted its holdings in Lamar Advertising Company (NASDAQ:LAMR - Free Report) by 75.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 13,892 shares of the real estate investment trust's stock after buying an additional 5,972 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Lamar Advertising were worth $1,686,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Hamlin Capital Management LLC boosted its stake in Lamar Advertising by 3.4% in the 1st quarter. Hamlin Capital Management LLC now owns 1,311,526 shares of the real estate investment trust's stock worth $149,225,000 after buying an additional 43,081 shares during the last quarter. Northern Trust Corp boosted its stake in Lamar Advertising by 0.4% in the 1st quarter. Northern Trust Corp now owns 1,282,892 shares of the real estate investment trust's stock worth $145,967,000 after buying an additional 4,495 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Lamar Advertising by 0.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,109,668 shares of the real estate investment trust's stock worth $126,258,000 after buying an additional 7,426 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Lamar Advertising by 5.8% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 917,833 shares of the real estate investment trust's stock valued at $104,431,000 after purchasing an additional 50,004 shares in the last quarter. Finally, HighTower Advisors LLC lifted its stake in shares of Lamar Advertising by 4.3% in the 1st quarter. HighTower Advisors LLC now owns 674,089 shares of the real estate investment trust's stock valued at $76,698,000 after purchasing an additional 27,823 shares in the last quarter. 93.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on LAMR. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Lamar Advertising in a research note on Wednesday, October 8th. Morgan Stanley lifted their price objective on Lamar Advertising from $125.00 to $135.00 and gave the company an "equal weight" rating in a research note on Monday, August 4th. Wells Fargo & Company reduced their price objective on Lamar Advertising from $122.00 to $119.00 and set an "equal weight" rating on the stock in a research note on Monday, August 11th. Finally, JPMorgan Chase & Co. reduced their price objective on Lamar Advertising from $125.00 to $122.00 and set a "neutral" rating on the stock in a research note on Monday, August 11th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $134.20.

Lamar Advertising Stock Performance

Shares of NASDAQ:LAMR opened at $119.02 on Friday. The company has a market cap of $12.05 billion, a P/E ratio of 27.68 and a beta of 1.37. The company has a debt-to-equity ratio of 3.45, a quick ratio of 0.58 and a current ratio of 0.58. Lamar Advertising Company has a one year low of $99.84 and a one year high of $137.47. The business's 50-day simple moving average is $123.39 and its 200 day simple moving average is $120.04.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last announced its earnings results on Friday, August 8th. The real estate investment trust reported $2.22 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 the consensus estimate of $580.72 million. Lamar Advertising had a return on equity of 41.85% and a net margin of 19.72%. Lamar Advertising has set its FY 2025 guidance at 6.090-6.11 EPS. On average, sell-side analysts forecast that Lamar Advertising Company will post 7.92 earnings per share for the current fiscal year.

Lamar Advertising Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Friday, September 19th were issued a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a dividend yield of 5.2%. The ex-dividend date was Friday, September 19th. Lamar Advertising's dividend payout ratio (DPR) is presently 144.19%.

Insider Activity at Lamar Advertising

In related news, CFO Jay Lecoryelle Johnson sold 22,000 shares of the firm's stock in a transaction dated 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 filing with the SEC, which can be accessed through this hyperlink. Insiders own 14.99% of the company's stock.

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.

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