Allspring Global Investments Holdings LLC lessened its holdings in shares of Lamar Advertising (NASDAQ:LAMR - Free Report) by 77.7% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 2,093 shares of the real estate investment trust's stock after selling 7,303 shares during the period. Allspring Global Investments Holdings LLC's holdings in Lamar Advertising were worth $222,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently made changes to their positions in LAMR. AE Wealth Management LLC acquired a new stake in shares of Lamar Advertising in the 3rd quarter valued at approximately $393,000. Simplicity Solutions LLC boosted its position in shares of Lamar Advertising by 3.3% during the third quarter. Simplicity Solutions LLC now owns 28,285 shares of the real estate investment trust's stock worth $2,361,000 after purchasing an additional 900 shares in the last quarter. Patriot Financial Group Insurance Agency LLC increased its position in shares of Lamar Advertising by 18.2% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 6,856 shares of the real estate investment trust's stock valued at $572,000 after buying an additional 1,058 shares in the last quarter. Ellsworth Advisors LLC increased its position in shares of Lamar Advertising by 50.0% in the 3rd quarter. Ellsworth Advisors LLC now owns 8,956 shares of the real estate investment trust's stock valued at $742,000 after buying an additional 2,984 shares in the last quarter. Finally, Accurate Wealth Management LLC lifted its holdings in Lamar Advertising by 18.7% during the third quarter. Accurate Wealth Management LLC now owns 2,438 shares of the real estate investment trust's stock worth $208,000 after acquiring an additional 384 shares in the last quarter. Institutional investors own 93.78% of the company's stock.
Wall Street Analyst Weigh In
Several equities research analysts have issued reports on the company. 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. Morgan Stanley raised their target price on shares of Lamar Advertising from $105.00 to $110.00 and gave the stock an "equal weight" rating in a report on Monday, February 26th. Finally, StockNews.com upgraded shares of Lamar Advertising from a "hold" rating to a "buy" rating in a report on Tuesday, March 5th.
Read Our Latest Stock Report on LAMR
Lamar Advertising Stock Up 1.4 %
Shares of Lamar Advertising stock traded up $1.56 during trading on Friday, reaching $114.37. The stock had a trading volume of 188,581 shares, compared to its average volume of 290,195. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 2.55. The company has a market capitalization of $11.67 billion, a price-to-earnings ratio of 23.58 and a beta of 1.50. The stock has a fifty day moving average price of $114.25 and a two-hundred day moving average price of $104.82. Lamar Advertising has a 52 week low of $77.21 and a 52 week high of $121.99.
Lamar Advertising (NASDAQ:LAMR - Get Free Report) last announced its earnings results on Friday, February 23rd. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.95 by ($0.49). Lamar Advertising had a net margin of 23.49% and a return on equity of 41.88%. The firm had revenue of $555.91 million during the quarter, compared to analyst estimates of $549.84 million. During the same period in the prior year, the business posted $1.91 EPS. Sell-side analysts predict that Lamar Advertising will post 7.54 EPS for the current fiscal year.
Lamar Advertising Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were paid a $1.30 dividend. This is a positive change from Lamar Advertising's previous quarterly dividend of $1.25. This represents a $5.20 annualized dividend and a yield of 4.55%. The ex-dividend date was Thursday, March 14th. Lamar Advertising's payout ratio is presently 107.22%.
Insiders Place Their Bets
In other news, CFO Jay Lecoryelle Johnson sold 5,000 shares of the firm's stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $118.97, for a total value of $594,850.00. Following the completion of the transaction, the chief financial officer now owns 10,000 shares in the company, valued at approximately $1,189,700. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 14.98% of the company's stock.
About Lamar Advertising
(
Free Report)
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.
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