SEB Asset Management AB Buys Shares of 10,426 Lamar Advertising Company $LAMR

Key Points

• SEB Asset Management AB opened a new position in Lamar Advertising, buying 10,426 shares worth about $1.32 million in the first quarter.
• Other institutional investors have also been active in LAMR, and institutions now own 93.78% of the company’s stock.
• Lamar Advertising recently beat quarterly earnings expectations, and analysts currently have a Hold consensus with an average price target of $154.67.

SEB Asset Management AB bought a new position in shares of Lamar Advertising Company (NASDAQ:LAMR - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 10,426 shares of the real estate investment trust's stock, valued at approximately $1,321,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in LAMR. Knights of Columbus Asset Advisors LLC bought a new stake in shares of Lamar Advertising during the 4th quarter valued at about $1,872,000. SG Americas Securities LLC lifted its holdings in Lamar Advertising by 323.6% in the fourth quarter. SG Americas Securities LLC now owns 75,297 shares of the real estate investment trust's stock worth $9,531,000 after acquiring an additional 57,520 shares during the last quarter. Markel Group Inc. lifted its holdings in Lamar Advertising by 8.8% in the fourth quarter. Markel Group Inc. now owns 185,000 shares of the real estate investment trust's stock worth $23,417,000 after acquiring an additional 15,000 shares during the last quarter. Legal & General Group Plc boosted its stake in Lamar Advertising by 4.6% in the fourth quarter. Legal & General Group Plc now owns 232,235 shares of the real estate investment trust's stock valued at $29,396,000 after acquiring an additional 10,265 shares during the period. Finally, Pensionfund Sabic acquired a new position in Lamar Advertising in the fourth quarter valued at approximately $1,025,000. Institutional investors own 93.78% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on LAMR. Morgan Stanley set a $145.00 price target on Lamar Advertising in a research report on Thursday, May 7th. Citigroup downgraded Lamar Advertising from a "buy" rating to a "neutral" rating and upped their price objective for the stock from $145.00 to $160.00 in a research note on Friday, July 10th. Wells Fargo & Company increased their target price on Lamar Advertising from $136.00 to $150.00 and gave the stock an "equal weight" rating in a research report on Friday, May 8th. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $153.00 target price on shares of Lamar Advertising in a research note on Wednesday. Finally, TD Cowen boosted their price target on shares of Lamar Advertising from $150.00 to $170.00 and gave the company a "buy" rating in a report on Thursday, May 14th. Two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Lamar Advertising presently has a consensus rating of "Hold" and an average price target of $154.67.

Lamar Advertising Stock Performance

LAMR stock opened at $157.73 on Friday. The company has a 50-day simple moving average of $154.27 and a 200 day simple moving average of $140.51. The company has a market capitalization of $16.00 billion, a P/E ratio of 29.10 and a beta of 1.19. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 3.33. Lamar Advertising Company has a fifty-two week low of $113.66 and a fifty-two week high of $164.38.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The real estate investment trust reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.18. Lamar Advertising had a net margin of 24.01% and a return on equity of 55.53%. The firm had revenue of $528.00 million for the quarter, compared to analysts' expectations of $522.86 million. Sell-side analysts predict that Lamar Advertising Company will post 8.41 earnings per share for the current fiscal year.

Lamar Advertising Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th were given a $1.60 dividend. The ex-dividend date was Tuesday, June 16th. This represents a $6.40 dividend on an annualized basis and a yield of 4.1%. Lamar Advertising's dividend payout ratio is presently 118.08%.

Lamar Advertising Company Profile

Lamar Advertising Company NASDAQ: LAMR is one of North America's largest outdoor advertising firms, specializing in out-of-home media solutions. Since its founding in 1902, the company has grown through a combination of organic expansion and strategic acquisitions to offer a broad portfolio of advertising products. Its core business centers on billboard advertising, encompassing traditional static billboards and a rapidly expanding network of digital displays. These assets enable advertisers to reach consumers with high-impact messaging along highways, in urban centers, and at high-traffic intersections.

In addition to highway billboards, Lamar offers a variety of supplemental out-of-home formats, including transit advertising on buses and shelters, and logo signage at travel plazas and gas stations.

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