Select Equity Group L.P. Sells 8,329 Shares of Lamar Advertising Company $LAMR

Key Points

• Select Equity Group L.P. reduced its stake in Lamar Advertising Company by 2.8%, selling 8,329 shares, and now owns approximately 290,524 shares valued at $33,056,000.
• Lamar Advertising reported a strong quarterly earnings result of $2.22 EPS, exceeding expectations, with FY 2025 guidance set at 6.090-6.11 EPS.
• A quarterly dividend of $1.55 has been declared, representing an annual yield of 4.8%, with a payout ratio of 144.19% based on recent earnings.

Select Equity Group L.P. lowered its position in shares of Lamar Advertising Company (NASDAQ:LAMR - Free Report) by 2.8% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 290,524 shares of the real estate investment trust's stock after selling 8,329 shares during the quarter. Select Equity Group L.P. owned about 0.28% of Lamar Advertising worth $33,056,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in LAMR. 1248 Management LLC acquired a new position in shares of Lamar Advertising during the 1st quarter worth $26,000. Golden State Wealth Management LLC acquired a new stake in shares of Lamar Advertising in the first quarter valued at about $28,000. HHM Wealth Advisors LLC raised its holdings 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 purchasing an additional 269 shares during the last quarter. ST Germain D J Co. Inc. lifted its holdings in Lamar Advertising by 346.0% in the first quarter. ST Germain D J Co. Inc. now owns 281 shares of the real estate investment trust's stock valued at $32,000 after buying an additional 218 shares during the period. Finally, Truvestments Capital LLC boosted its position in Lamar Advertising by 79.5% during the first quarter. Truvestments Capital LLC now owns 316 shares of the real estate investment trust's stock valued at $36,000 after acquiring an additional 140 shares during the last quarter. Institutional investors and hedge funds own 93.78% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on LAMR. JPMorgan Chase & Co. reduced 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, August 11th. Morgan Stanley raised their price target on shares of Lamar Advertising from $125.00 to $135.00 and gave the stock an "equal weight" rating in a report on Monday, August 4th. Citigroup raised shares of Lamar Advertising from a "neutral" rating to a "buy" rating and lifted their price target for the company from $114.00 to $135.00 in a research note on Thursday, May 29th. Finally, Wells Fargo & Company cut 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. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average 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 value of $2,734,160.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 14.99% of the stock is currently owned by insiders.

Lamar Advertising Stock Down 1.0%

LAMR traded down $1.34 during trading on Wednesday, hitting $126.60. 429,568 shares of the company's stock were exchanged, compared to its average volume of 625,118. Lamar Advertising Company has a fifty-two week low of $99.84 and a fifty-two week high of $139.88. The stock has a market cap of $12.81 billion, a P/E ratio of 29.44 and a beta of 1.38. The business's 50 day moving average is $124.22 and its two-hundred day moving average is $119.09. 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 released 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 for 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. As a group, equities analysts expect that Lamar Advertising Company will post 7.92 earnings per share for the current fiscal year.

Lamar Advertising Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 19th will be paid a $1.55 dividend. The ex-dividend date is Friday, September 19th. This represents a $6.20 annualized dividend and a yield of 4.9%. Lamar Advertising's dividend payout ratio is currently 144.19%.

Lamar Advertising Company 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.