Mackenzie Financial Corp Invests $13.57 Million in Lamar Advertising (NASDAQ:LAMR)

Mackenzie Financial Corp bought a new position in shares of Lamar Advertising (NASDAQ:LAMR - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 127,717 shares of the real estate investment trust's stock, valued at approximately $13,574,000. Mackenzie Financial Corp owned about 0.13% of Lamar Advertising at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. State of Michigan Retirement System grew its holdings in Lamar Advertising by 0.5% during the 4th quarter. State of Michigan Retirement System now owns 21,038 shares of the real estate investment trust's stock worth $2,236,000 after acquiring an additional 100 shares during the last quarter. Toronto Dominion Bank raised its position in shares of Lamar Advertising by 1.2% during the third quarter. Toronto Dominion Bank now owns 9,596 shares of the real estate investment trust's stock worth $801,000 after acquiring an additional 112 shares during the last quarter. EP Wealth Advisors LLC lifted its stake in shares of Lamar Advertising by 2.8% in the first quarter. EP Wealth Advisors LLC now owns 4,129 shares of the real estate investment trust's stock worth $480,000 after acquiring an additional 112 shares during the period. Continuum Advisory LLC boosted its holdings in Lamar Advertising by 2.5% in the first quarter. Continuum Advisory LLC now owns 4,606 shares of the real estate investment trust's stock valued at $460,000 after acquiring an additional 113 shares during the last quarter. Finally, First Hawaiian Bank increased its position in Lamar Advertising by 1.5% during the 4th quarter. First Hawaiian Bank now owns 7,924 shares of the real estate investment trust's stock valued at $842,000 after purchasing an additional 116 shares during the period. 93.78% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Lamar Advertising

In other Lamar Advertising news, CFO Jay Lecoryelle Johnson sold 5,000 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $118.97, for a total value of $594,850.00. Following the completion of the sale, the chief financial officer now owns 10,000 shares in the company, valued at approximately $1,189,700. The transaction was disclosed in a document filed with the SEC, which is available at this link. 14.98% of the stock is owned by insiders.

Lamar Advertising Trading Up 0.7 %

LAMR traded up $0.72 during trading on Friday, hitting $111.44. The company's stock had a trading volume of 290,850 shares, compared to its average volume of 410,811. The firm has a market capitalization of $11.37 billion, a P/E ratio of 22.89 and a beta of 1.50. The stock's fifty day moving average price is $113.41 and its 200-day moving average price is $103.09. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 2.55. Lamar Advertising has a twelve month low of $77.21 and a twelve month high of $121.99.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last posted its quarterly earnings results on Friday, February 23rd. The real estate investment trust reported $1.46 earnings per share for the quarter, missing analysts' consensus estimates of $1.95 by ($0.49). Lamar Advertising had a return on equity of 41.88% and a net margin of 23.49%. The firm had revenue of $555.91 million for the quarter, compared to analyst estimates of $549.84 million. During the same period last year, the company posted $1.91 earnings per share. Analysts anticipate that Lamar Advertising will post 7.54 EPS for the current year.

Lamar Advertising Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were given a dividend of $1.30 per share. This is a positive change from Lamar Advertising's previous quarterly dividend of $1.25. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.67%. The ex-dividend date was Thursday, March 14th. Lamar Advertising's dividend payout ratio (DPR) is presently 107.22%.

Analyst Ratings Changes

LAMR has been the topic of a number of recent analyst reports. StockNews.com upgraded shares of Lamar Advertising from a "hold" rating to a "buy" rating in a research report on Tuesday, March 5th. Morgan Stanley boosted their target price on shares of Lamar Advertising from $105.00 to $110.00 and gave the company an "equal weight" rating in a report on Monday, February 26th. Finally, JPMorgan Chase & Co. increased their price target on Lamar Advertising from $92.00 to $109.00 and gave the stock a "neutral" rating in a report on Monday, February 26th.

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.