Lamar Advertising Company $LAMR Stock Holdings Increased by Alliancebernstein L.P.

Key Points

• Alliancebernstein L.P. has increased its holdings in Lamar Advertising Company by 29.4%, now owning 160,055 shares valued at approximately $18.2 million.
• Lamar Advertising reported a quarterly earnings per share (EPS) of $2.22, significantly exceeding analysts' expectations, while revenue was slightly below forecast.
• The company has announced a quarterly dividend of $1.55 per share, representing an annual yield of 4.9%, with a payout ratio of 144.19%.

Alliancebernstein L.P. increased its holdings in Lamar Advertising Company (NASDAQ:LAMR - Free Report) by 29.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 160,055 shares of the real estate investment trust's stock after purchasing an additional 36,366 shares during the quarter. Alliancebernstein L.P. owned 0.16% of Lamar Advertising worth $18,211,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bessemer Group Inc. raised its holdings in shares of Lamar Advertising by 33.9% in the 1st quarter. Bessemer Group Inc. now owns 371 shares of the real estate investment trust's stock worth $42,000 after purchasing an additional 94 shares in the last quarter. Golden State Wealth Management LLC bought a new stake in shares of Lamar Advertising in the 1st quarter worth approximately $28,000. Farther Finance Advisors LLC lifted its stake in Lamar Advertising by 101.2% during the first quarter. Farther Finance Advisors LLC now owns 2,446 shares of the real estate investment trust's stock valued at $277,000 after buying an additional 1,230 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Lamar Advertising in the first quarter worth about $1,007,000. Finally, Fifth Third Bancorp boosted its holdings in shares of Lamar Advertising by 9.3% in the first quarter. Fifth Third Bancorp now owns 5,584 shares of the real estate investment trust's stock worth $635,000 after buying an additional 475 shares during the period. 93.78% of the stock is currently owned by institutional investors.

Lamar Advertising Stock Performance

Shares of LAMR stock opened at $126.60 on Thursday. Lamar Advertising Company has a fifty-two week low of $99.84 and a fifty-two week high of $139.88. The stock's 50-day moving average is $124.22 and its two-hundred day moving average is $119.09. The company has a debt-to-equity ratio of 3.45, a current ratio of 0.58 and a quick ratio of 0.58. The firm has a market cap of $12.81 billion, a P/E ratio of 29.44 and a beta of 1.38.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last announced its quarterly 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 during the quarter, compared to analysts' expectations 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. Analysts predict that Lamar Advertising Company will post 7.92 earnings per share for the current fiscal year.

Lamar Advertising Dividend Announcement

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

Analysts Set New Price Targets

Several brokerages recently commented on LAMR. Wells Fargo & Company reduced their price target on shares of Lamar Advertising from $122.00 to $119.00 and set an "equal weight" rating for the company in a research report on Monday, August 11th. Citigroup raised 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. reduced their target price on 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 lifted their price target on Lamar Advertising from $125.00 to $135.00 and gave the company an "equal weight" rating in a report on Monday, August 4th. Two research 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 company has a consensus rating of "Hold" and a consensus price target of $134.20.

Insider Transactions at Lamar Advertising

In other Lamar Advertising news, CFO Jay Lecoryelle Johnson sold 22,000 shares of Lamar Advertising stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $124.28, for a total value of $2,734,160.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 14.99% of the stock is owned by company insiders.

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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