Mackenzie Financial Corp Boosts Stock Holdings in Lamar Advertising (NASDAQ:LAMR)

Mackenzie Financial Corp lifted its stake in Lamar Advertising (NASDAQ:LAMR - Free Report) by 31.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 109,479 shares of the real estate investment trust's stock after acquiring an additional 26,103 shares during the period. Mackenzie Financial Corp owned 0.11% of Lamar Advertising worth $13,328,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Cohen & Steers Inc. raised its holdings in Lamar Advertising by 453.6% in the fourth quarter. Cohen & Steers Inc. now owns 2,660,664 shares of the real estate investment trust's stock worth $323,900,000 after purchasing an additional 2,180,011 shares in the last quarter. FMR LLC raised its stake in shares of Lamar Advertising by 11.0% during the 4th quarter. FMR LLC now owns 5,527,270 shares of the real estate investment trust's stock worth $672,890,000 after acquiring an additional 545,606 shares in the last quarter. Daiwa Securities Group Inc. lifted its position in Lamar Advertising by 108.3% during the fourth quarter. Daiwa Securities Group Inc. now owns 905,368 shares of the real estate investment trust's stock valued at $110,220,000 after acquiring an additional 470,805 shares during the last quarter. Norges Bank purchased a new stake in Lamar Advertising during the fourth quarter valued at approximately $57,255,000. Finally, Northern Trust Corp boosted its stake in Lamar Advertising by 50.5% in the fourth quarter. Northern Trust Corp now owns 1,278,397 shares of the real estate investment trust's stock valued at $155,632,000 after acquiring an additional 428,744 shares in the last quarter. 93.78% of the stock is owned by institutional investors.

Analyst Ratings Changes

LAMR has been the topic of a number of recent analyst reports. Morgan Stanley reduced their price target on Lamar Advertising from $135.00 to $125.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 1st. JPMorgan Chase & Co. lowered their price target on Lamar Advertising from $129.00 to $126.00 and set a "neutral" rating for the company in a report on Friday, February 21st. Finally, Citigroup raised 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 report on Thursday. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $134.00.

Lamar Advertising Stock Performance

Shares of NASDAQ:LAMR traded up $0.73 during trading on Friday, hitting $120.41. The stock had a trading volume of 878,191 shares, compared to its average volume of 517,688. The stock has a 50-day simple moving average of $113.45 and a two-hundred day simple moving average of $120.70. The stock has a market capitalization of $12.33 billion, a price-to-earnings ratio of 34.11 and a beta of 1.38. Lamar Advertising has a 12-month low of $99.84 and a 12-month high of $139.88. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 2.48.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The real estate investment trust reported $1.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.54 by $0.06. The company had revenue of $505.43 million during the quarter, compared to analyst estimates of $509.72 million. Lamar Advertising had a net margin of 16.40% and a return on equity of 30.20%. On average, equities research analysts expect that Lamar Advertising will post 7.92 earnings per share for the current fiscal year.

Lamar Advertising Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be issued a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 5.15%. The ex-dividend date of this dividend is Monday, June 16th. Lamar Advertising's payout ratio is 150.49%.

Lamar Advertising 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.