NewEdge Advisors LLC Boosts Stock Position in Lamar Advertising Company $LAMR

Key Points

• NewEdge Advisors LLC increased its holdings in Lamar Advertising by 12.2% during the 1st quarter, bringing their total to 39,569 shares worth approximately $4.5 million.
• Lamar Advertising reported an EPS of $2.22 for the last quarter, exceeding analysts' estimates of $1.48, with revenue of $579.31 million.
• The company announced a quarterly dividend of $1.55, which will be paid on September 30th, reflecting an annualized yield of 4.8% and a high payout ratio of 144.19%.

NewEdge Advisors LLC increased its holdings in shares of Lamar Advertising Company (NASDAQ:LAMR - Free Report) by 12.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,569 shares of the real estate investment trust's stock after buying an additional 4,311 shares during the quarter. NewEdge Advisors LLC's holdings in Lamar Advertising were worth $4,502,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Hamlin Capital Management LLC grew its stake in Lamar Advertising by 3.4% during 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 lifted its position in Lamar Advertising by 0.4% during 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 acquiring an additional 4,495 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Lamar Advertising by 0.7% during 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 acquiring an additional 7,426 shares during the period. Massachusetts Financial Services Co. MA lifted its position in Lamar Advertising by 5.8% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 917,833 shares of the real estate investment trust's stock worth $104,431,000 after acquiring an additional 50,004 shares during the period. Finally, HighTower Advisors LLC lifted its position in Lamar Advertising by 4.3% during the 1st quarter. HighTower Advisors LLC now owns 674,089 shares of the real estate investment trust's stock worth $76,698,000 after acquiring an additional 27,823 shares during the period. 93.78% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Lamar Advertising news, CFO Jay Lecoryelle Johnson sold 22,000 shares of the 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 is available at this hyperlink. Insiders own 14.99% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented on the company. Wells Fargo & Company lowered their price target on 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. Morgan Stanley lifted their price target on Lamar Advertising from $125.00 to $135.00 and gave the stock an "equal weight" rating in a research report on Monday, August 4th. Citigroup raised Lamar Advertising from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $114.00 to $135.00 in a research report on Thursday, May 29th. Finally, JPMorgan Chase & Co. lowered their price target on Lamar Advertising from $125.00 to $122.00 and set a "neutral" rating for the company in a research report on Monday, August 11th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $134.20.

Lamar Advertising Stock Performance

Shares of LAMR stock traded down $1.22 on Friday, hitting $127.60. The company had a trading volume of 298,934 shares, compared to its average volume of 560,773. The firm has a market cap of $12.92 billion, a P/E ratio of 29.67 and a beta of 1.38. The company has a 50-day moving average price of $124.38 and a 200-day moving average price of $119.10. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 3.45. Lamar Advertising Company has a twelve month low of $99.84 and a twelve month high of $139.88.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last released its quarterly earnings results on Friday, August 8th. The real estate investment trust reported $2.22 earnings per share for the quarter, topping analysts' consensus estimates of $1.48 by $0.74. The company 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. As a group, equities research 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 declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 19th will be issued a $1.55 dividend. The ex-dividend date of this dividend is Friday, September 19th. This represents a $6.20 dividend on an annualized basis and a yield of 4.9%. Lamar Advertising's dividend payout ratio is presently 144.19%.

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.