Voya Investment Management LLC Has $8.67 Million Holdings in Lamar Advertising Company $LAMR

Key Points

• Voya Investment Management LLC increased its stake in Lamar Advertising Company by 8.4% in the first quarter, owning 76,219 shares valued at approximately $8.67 million.
• Lamar Advertising recently reported $2.22 earnings per share, surpassing analysts' expectations by $0.74, while revenue came in slightly below estimates at $579.31 million.
• The company announced a quarterly dividend of $1.55 per share, translating to an annualized dividend yield of 4.9% with a payout ratio of 144.19%.

Voya Investment Management LLC increased its holdings in Lamar Advertising Company (NASDAQ:LAMR - Free Report) by 8.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 76,219 shares of the real estate investment trust's stock after acquiring an additional 5,903 shares during the period. Voya Investment Management LLC owned about 0.07% of Lamar Advertising worth $8,672,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. 1248 Management LLC purchased a new stake in Lamar Advertising in the 1st quarter worth about $26,000. Golden State Wealth Management LLC acquired a new position in Lamar Advertising in the 1st quarter worth about $28,000. HHM Wealth Advisors LLC increased its position in Lamar Advertising by 26,900.0% in 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. increased its position in Lamar Advertising by 346.0% in 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 purchasing an additional 218 shares during the last quarter. Finally, Truvestments Capital LLC increased its position in Lamar Advertising by 79.5% in the 1st quarter. Truvestments Capital LLC now owns 316 shares of the real estate investment trust's stock worth $36,000 after purchasing an additional 140 shares during the last quarter. 93.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on LAMR shares. Wells Fargo & Company dropped their target price on 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. JPMorgan Chase & Co. lowered their price objective on Lamar Advertising from $125.00 to $122.00 and set a "neutral" rating on the stock in a report on Monday, August 11th. Citigroup raised Lamar Advertising from a "neutral" rating to a "buy" rating and increased their price objective for the company from $114.00 to $135.00 in a report on Thursday, May 29th. Finally, Morgan Stanley raised their target price on Lamar Advertising from $125.00 to $135.00 and gave the company an "equal weight" rating in a report on Monday, August 4th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Lamar Advertising has an average rating of "Hold" and an average price target of $134.20.

Insider Buying and Selling at Lamar Advertising

In other news, CFO Jay Lecoryelle Johnson sold 22,000 shares of the business's stock in a transaction on 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 14.99% of the stock is currently owned by insiders.

Lamar Advertising Price Performance

Shares of Lamar Advertising stock traded down $1.57 during midday trading on Friday, hitting $123.75. 999,957 shares of the company were exchanged, compared to its average volume of 528,267. The company has a debt-to-equity ratio of 3.45, a current ratio of 0.58 and a quick ratio of 0.58. The firm has a market cap of $12.53 billion, a P/E ratio of 28.78 and a beta of 1.38. Lamar Advertising Company has a 52 week low of $99.84 and a 52 week high of $139.88. The firm has a 50 day simple moving average of $124.55 and a 200-day simple moving average of $119.24.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last posted its earnings results on Friday, August 8th. The real estate investment trust reported $2.22 EPS for the quarter, topping the consensus estimate of $1.48 by $0.74. The business had revenue of $579.31 million during the quarter, compared to the consensus estimate of $580.72 million. Lamar Advertising had a return on equity of 41.85% and a net margin of 19.72%. Lamar Advertising has set its FY 2025 guidance at 6.090-6.11 EPS. Research analysts forecast that Lamar Advertising Company will post 7.92 earnings per share for the current year.

Lamar Advertising Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 19th will be given a dividend of $1.55 per share. The ex-dividend date is Friday, September 19th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 5.0%. Lamar Advertising's payout ratio is presently 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.