Price T Rowe Associates Inc. MD Sells 72,507 Shares of Lamar Advertising Company $LAMR

Key Points

• Price T Rowe Associates Inc. MD has reduced its stake in Lamar Advertising Company by 11.9%, leaving them with approximately 537,628 shares valued at $61.17 million.
• Lamar Advertising reported $2.22 earnings per share (EPS) for the latest quarter, surpassing analysts' expectations, and has set its FY 2025 EPS guidance between 6.090-6.11.
• Several hedge funds have modified their positions, with a majority of the company's stock (93.78%) now in the hands of institutional investors.

Price T Rowe Associates Inc. MD reduced its position in Lamar Advertising Company (NASDAQ:LAMR - Free Report) by 11.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 537,628 shares of the real estate investment trust's stock after selling 72,507 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 0.53% of Lamar Advertising worth $61,172,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Bessemer Group Inc. increased its position in Lamar Advertising by 33.9% in the first quarter. Bessemer Group Inc. now owns 371 shares of the real estate investment trust's stock worth $42,000 after buying an additional 94 shares during the last quarter. Golden State Wealth Management LLC purchased a new position in shares of Lamar Advertising during the 1st quarter valued at $28,000. Farther Finance Advisors LLC grew its position in Lamar Advertising by 101.2% in the first quarter. Farther Finance Advisors LLC now owns 2,446 shares of the real estate investment trust's stock worth $277,000 after acquiring an additional 1,230 shares in the last quarter. SG Americas Securities LLC purchased a new position in Lamar Advertising in the first quarter worth $1,007,000. Finally, Fifth Third Bancorp grew its position in 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 acquiring an additional 475 shares in the last quarter. 93.78% of the stock is owned by hedge funds and other institutional investors.

Lamar Advertising Stock Performance

LAMR stock traded up $1.12 during trading on Monday, reaching $127.25. The stock had a trading volume of 497,449 shares, compared to its average volume of 788,837. The stock's 50 day moving average is $123.45 and its two-hundred day moving average is $119.00. Lamar Advertising Company has a 52 week low of $99.84 and a 52 week high of $139.88. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 3.45. The firm has a market cap of $12.88 billion, a PE ratio of 29.59 and a beta of 1.38.

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 (EPS) for the quarter, beating the consensus estimate of $1.48 by $0.74. Lamar Advertising had a return on equity of 41.85% and a net margin of 19.72%.The business had revenue of $579.31 million during the quarter, compared to analyst estimates of $580.72 million. Lamar Advertising has set its FY 2025 guidance at 6.090-6.11 EPS. As a group, equities analysts anticipate that Lamar Advertising Company will post 7.92 earnings per share for the current year.

Lamar Advertising Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 19th will be issued a dividend of $1.55 per share. 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 (DPR) is currently 144.19%.

Analysts Set New Price Targets

LAMR has been the subject of a number of research reports. Citigroup raised shares of Lamar Advertising from a "neutral" rating to a "buy" rating and upped their price objective for the company from $114.00 to $135.00 in a research note on Thursday, May 29th. Morgan Stanley boosted their price objective on shares of Lamar Advertising from $125.00 to $135.00 and gave the company an "equal weight" rating in a research report on Monday, August 4th. Wells Fargo & Company reduced their price objective on shares of Lamar Advertising from $122.00 to $119.00 and set an "equal weight" rating on the stock in a research report on Monday, August 11th. Finally, JPMorgan Chase & Co. lowered their price objective 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 equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Lamar Advertising has an average rating of "Hold" and a consensus target price of $134.20.

Insider Buying and Selling

In other Lamar Advertising news, CFO Jay Lecoryelle Johnson sold 22,000 shares of the firm's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $124.28, for a total transaction of $2,734,160.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 14.99% of the stock is currently owned by corporate insiders.

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.