Lamar Advertising Company (NASDAQ:LAMR) Shares Bought by Prudential PLC

Key Points

• Prudential PLC increased its stake in Lamar Advertising Company by 57.8%, owning 68,471 shares worth approximately $7.79 million as of the latest reporting period.
• Lamar Advertising's stock received varied analyst ratings, with JPMorgan lowering its target price to $122, while Citigroup raised it to $135, reflecting mixed sentiments among financial institutions.
• The company reported a strong earnings performance, with $2.22 EPS for the last quarter, significantly exceeding analyst expectations of $1.48, while also announcing a quarterly dividend of $1.55 per share.

Prudential PLC lifted its stake in shares of Lamar Advertising Company (NASDAQ:LAMR - Free Report) by 57.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 68,471 shares of the real estate investment trust's stock after buying an additional 25,082 shares during the period. Prudential PLC owned approximately 0.07% of Lamar Advertising worth $7,791,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Northern Trust Corp lifted its stake in shares of Lamar Advertising by 50.5% during the fourth quarter. Northern Trust Corp now owns 1,278,397 shares of the real estate investment trust's stock worth $155,632,000 after buying an additional 428,744 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Lamar Advertising by 0.7% during the first 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 buying an additional 7,426 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of Lamar Advertising by 5.8% during the first quarter. Massachusetts Financial Services Co. MA now owns 917,833 shares of the real estate investment trust's stock worth $104,431,000 after buying an additional 50,004 shares during the period. HighTower Advisors LLC lifted its stake in shares of Lamar Advertising by 4.3% during the first quarter. HighTower Advisors LLC now owns 674,089 shares of the real estate investment trust's stock worth $76,698,000 after buying an additional 27,823 shares during the period. Finally, Centersquare Investment Management LLC lifted its position in Lamar Advertising by 8.8% during the first quarter. Centersquare Investment Management LLC now owns 655,886 shares of the real estate investment trust's stock valued at $74,627,000 after purchasing an additional 52,876 shares during the period. 93.78% of the stock is currently owned by institutional investors and hedge funds.

Lamar Advertising Price Performance

Shares of LAMR stock traded down $0.28 on Thursday, reaching $121.22. 706,928 shares of the company were exchanged, compared to its average volume of 597,363. The company has a market cap of $12.41 billion, a price-to-earnings ratio of 28.19 and a beta of 1.36. The business has a 50-day moving average price of $122.43 and a 200 day moving average price of $119.28. The company has a debt-to-equity ratio of 3.45, a quick ratio of 0.57 and a current ratio of 0.58. Lamar Advertising Company has a 1 year low of $99.84 and a 1 year high of $139.88.

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 (EPS) for the quarter, beating the consensus estimate of $1.48 by $0.74. Lamar Advertising had a net margin of 19.72% and a return on equity of 41.85%. The company had revenue of $579.31 million during the quarter, compared to analysts' expectations of $580.72 million. Equities research analysts forecast that Lamar Advertising Company will post 7.92 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on LAMR. Wells Fargo & Company decreased their target price on shares of Lamar Advertising from $122.00 to $119.00 and set an "equal weight" rating for the company in a research report on Monday. Morgan Stanley boosted their target price 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. Citigroup upgraded shares of Lamar Advertising from a "neutral" rating to a "buy" rating and boosted their target price for the company from $114.00 to $135.00 in a research 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 research report on Monday. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average 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.