Russell Investments Group Ltd. decreased its holdings in Lamar Advertising (NASDAQ:LAMR - Free Report) by 33.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 68,748 shares of the real estate investment trust's stock after selling 34,776 shares during the quarter. Russell Investments Group Ltd. owned 0.07% of Lamar Advertising worth $7,307,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Cambridge Investment Research Advisors Inc. grew its holdings in Lamar Advertising by 27.6% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 8,400 shares of the real estate investment trust's stock worth $701,000 after acquiring an additional 1,815 shares during the last quarter. Raymond James & Associates grew its holdings in Lamar Advertising by 8.9% during the 3rd quarter. Raymond James & Associates now owns 301,307 shares of the real estate investment trust's stock worth $25,150,000 after acquiring an additional 24,649 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in Lamar Advertising by 4.2% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 55,181 shares of the real estate investment trust's stock worth $4,606,000 after acquiring an additional 2,240 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Lamar Advertising by 20.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,453 shares of the real estate investment trust's stock worth $1,206,000 after acquiring an additional 2,414 shares during the last quarter. Finally, Park Avenue Securities LLC bought a new stake in Lamar Advertising during the 3rd quarter worth approximately $200,000. Institutional investors and hedge funds own 93.78% of the company's stock.
Lamar Advertising Stock Down 0.5 %
Shares of Lamar Advertising stock traded down $0.55 during trading on Wednesday, reaching $116.96. 291,386 shares of the company traded hands, compared to its average volume of 420,303. The company has a debt-to-equity ratio of 2.39, a current ratio of 0.38 and a quick ratio of 0.38. Lamar Advertising has a 1-year low of $77.21 and a 1-year high of $121.99. The company has a 50 day moving average price of $115.46 and a 200-day moving average price of $106.56. The firm has a market capitalization of $11.94 billion, a PE ratio of 24.02 and a beta of 1.49.
Lamar Advertising (NASDAQ:LAMR - Get Free Report) last released its earnings results on Thursday, May 2nd. The real estate investment trust reported $0.76 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.47 by ($0.71). Lamar Advertising had a net margin of 23.29% and a return on equity of 41.86%. The company had revenue of $498.15 million for the quarter, compared to analyst estimates of $496.98 million. During the same quarter in the previous year, the firm earned $1.41 EPS. The firm's revenue was up 5.7% on a year-over-year basis. As a group, equities research analysts expect that Lamar Advertising will post 7.92 earnings per share for the current fiscal year.
Lamar Advertising Increases Dividend
The business also recently announced 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 represents a $5.20 dividend on an annualized basis and a dividend yield of 4.45%. The ex-dividend date was Thursday, March 14th. This is an increase from Lamar Advertising's previous quarterly dividend of $1.25. Lamar Advertising's payout ratio is presently 106.78%.
Insider Activity at Lamar Advertising
In other Lamar Advertising news, CFO Jay Lecoryelle Johnson sold 5,000 shares of the company's stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $118.97, for a total transaction of $594,850.00. Following the transaction, the chief financial officer now owns 10,000 shares in the company, valued at $1,189,700. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 14.98% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
A number of research firms have recently commented on LAMR. StockNews.com lowered shares of Lamar Advertising from a "buy" rating to a "hold" rating in a research note on Monday. JPMorgan Chase & Co. upped their price objective on shares of Lamar Advertising from $92.00 to $109.00 and gave the company a "neutral" rating in a research note on Monday, February 26th. Finally, Morgan Stanley upped their price objective on shares of Lamar Advertising from $105.00 to $110.00 and gave the company an "equal weight" rating in a research note on Monday, February 26th.
Get Our Latest Stock Report on LAMR
Lamar Advertising Profile
(
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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