Nuveen LLC Takes Position in Lamar Advertising Company $LAMR

Key Points

• Nuveen LLC has acquired 357,695 shares of Lamar Advertising Company, valued at approximately $40.7 million, representing about 0.35% of the company's stock.
• Several institutional investors have increased their stakes in Lamar Advertising, with Northern Trust Corp raising their holdings by 50.5% in the last quarter.
• Wall Street analysts have a consensus rating of "Hold" for Lamar Advertising, with an average price target set at $134.20, despite mixed ratings from different institutions.

Nuveen LLC purchased a new position in shares of Lamar Advertising Company (NASDAQ:LAMR - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 357,695 shares of the real estate investment trust's stock, valued at approximately $40,699,000. Nuveen LLC owned 0.35% of Lamar Advertising at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in LAMR. Golden State Wealth Management LLC purchased a new stake in Lamar Advertising during the 1st quarter worth $28,000. HHM Wealth Advisors LLC increased its stake in Lamar Advertising by 26,900.0% during the 1st quarter. HHM Wealth Advisors LLC now owns 270 shares of the real estate investment trust's stock worth $31,000 after buying an additional 269 shares during the period. ST Germain D J Co. Inc. increased its stake in Lamar Advertising by 346.0% during the 1st quarter. ST Germain D J Co. Inc. now owns 281 shares of the real estate investment trust's stock worth $32,000 after buying an additional 218 shares during the period. Bessemer Group Inc. increased its stake in Lamar Advertising by 106.7% during the 4th quarter. Bessemer Group Inc. now owns 277 shares of the real estate investment trust's stock worth $34,000 after buying an additional 143 shares during the period. Finally, Wayfinding Financial LLC purchased a new stake in Lamar Advertising during the 1st quarter worth $60,000. Hedge funds and other institutional investors own 93.78% of the company's stock.

Lamar Advertising Stock Down 0.2%

LAMR stock traded down $0.19 during mid-day trading on Thursday, hitting $122.42. 478,863 shares of the company were exchanged, compared to its average volume of 747,561. The company has a market capitalization of $12.39 billion, a PE ratio of 28.47 and a beta of 1.36. The company has a current ratio of 0.58, a quick 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. The firm has a fifty day simple moving average of $122.51 and a 200 day simple moving average of $119.14.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last announced its quarterly earnings data on Friday, August 8th. The real estate investment trust reported $2.22 earnings per share for the quarter, topping the consensus estimate of $1.48 by $0.74. The company had revenue of $579.31 million during the quarter, compared to analyst estimates 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. On average, research analysts forecast that Lamar Advertising Company will post 7.92 earnings per share for the current fiscal year.

Analysts Set New Price Targets

LAMR has been the topic of several analyst reports. Morgan Stanley lifted 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 note on Monday, August 4th. Wells Fargo & Company decreased 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. Citigroup raised shares of Lamar Advertising from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $114.00 to $135.00 in a report on Thursday, May 29th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Lamar Advertising from $125.00 to $122.00 and set a "neutral" rating for the company in a report on Monday, August 11th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Lamar Advertising presently has a consensus rating of "Hold" and a consensus price target of $134.20.

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.