NorthRock Partners LLC Takes Position in Lamar Advertising Company $LAMR

Key Points

• NorthRock Partners LLC recently acquired a new position in Lamar Advertising Company, purchasing 3,285 shares valued at approximately $399,000 during the second quarter.
• Lamar Advertising reported $2.22 earnings per share for the latest quarter, exceeding analysts' expectations of $1.48, while also declaring a quarterly dividend of $1.55.
• Wall Street analysts hold a consensus rating of "Moderate Buy" for Lamar Advertising, with a price target range of $119.00 to $135.00 based on various analyst reports.

NorthRock Partners LLC purchased a new position in shares of Lamar Advertising Company (NASDAQ:LAMR - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,285 shares of the real estate investment trust's stock, valued at approximately $399,000.

Several other hedge funds have also recently bought and sold shares of the company. Farther Finance Advisors LLC grew its position in Lamar Advertising by 101.2% in the 1st quarter. Farther Finance Advisors LLC now owns 2,446 shares of the real estate investment trust's stock worth $277,000 after purchasing an additional 1,230 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Lamar Advertising during the first quarter worth approximately $1,007,000. Fifth Third Bancorp grew its holdings in Lamar Advertising by 9.3% in the 1st 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 in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Lamar Advertising by 17.0% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 42,394 shares of the real estate investment trust's stock valued at $4,824,000 after acquiring an additional 6,171 shares during the period. Finally, QRG Capital Management Inc. increased its position in Lamar Advertising by 4.6% in the 1st quarter. QRG Capital Management Inc. now owns 19,826 shares of the real estate investment trust's stock valued at $2,256,000 after acquiring an additional 878 shares during the period. 93.78% of the stock is currently owned by institutional investors.

Insider Activity at Lamar Advertising

In other news, CFO Jay Lecoryelle Johnson sold 22,000 shares of the stock in a transaction 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 14.99% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Weiss Ratings reiterated a "buy (b-)" rating on shares of Lamar Advertising in a research report on Wednesday, October 8th. Wells Fargo & Company reduced their price objective on shares of Lamar Advertising from $122.00 to $119.00 and set an "equal weight" rating for the company in a report on Monday, August 11th. JPMorgan Chase & Co. decreased their target price on shares of Lamar Advertising from $125.00 to $122.00 and set a "neutral" rating for the company in a research report on Monday, August 11th. Finally, Morgan Stanley boosted their price target on shares of Lamar Advertising from $125.00 to $135.00 and gave the stock an "equal weight" rating in a research report on Monday, August 4th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $134.20.

Lamar Advertising Price Performance

NASDAQ:LAMR opened at $121.00 on Thursday. The business's 50-day moving average price is $123.45 and its 200 day moving average price is $119.97. The firm has a market cap of $12.25 billion, a P/E ratio of 28.14 and a beta of 1.37. Lamar Advertising Company has a 52-week low of $99.84 and a 52-week high of $139.88. 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 (NASDAQ:LAMR - Get Free Report) last issued its quarterly earnings results on Friday, August 8th. The real estate investment trust reported $2.22 earnings per share for the quarter, beating analysts' consensus estimates of $1.48 by $0.74. The company had revenue of $579.31 million during the quarter, compared to the consensus estimate 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, sell-side analysts predict that Lamar Advertising Company will post 7.92 earnings per share for the current fiscal year.

Lamar Advertising Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Friday, September 19th were issued a $1.55 dividend. The ex-dividend date of this dividend was Friday, September 19th. This represents a $6.20 annualized dividend and a dividend yield of 5.1%. Lamar Advertising's dividend payout ratio is currently 144.19%.

About Lamar Advertising

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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