Lamar Advertising (NASDAQ:LAMR) Shares Bought by Boston Partners

Boston Partners grew its stake in Lamar Advertising (NASDAQ:LAMR - Free Report) by 32.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,953,214 shares of the real estate investment trust's stock after buying an additional 727,207 shares during the quarter. Boston Partners owned 2.90% of Lamar Advertising worth $313,871,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Cary Street Partners Investment Advisory LLC acquired a new position in shares of Lamar Advertising in the third quarter worth about $30,000. Signaturefd LLC raised its stake in shares of Lamar Advertising by 43.7% during the 3rd quarter. Signaturefd LLC now owns 493 shares of the real estate investment trust's stock worth $41,000 after buying an additional 150 shares during the period. Arlington Trust Co LLC purchased a new position in shares of Lamar Advertising during the 4th quarter valued at approximately $57,000. Sunbelt Securities Inc. increased its holdings in Lamar Advertising by 249.0% in the 3rd quarter. Sunbelt Securities Inc. now owns 705 shares of the real estate investment trust's stock worth $59,000 after acquiring an additional 503 shares in the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC acquired a new position in Lamar Advertising during the third quarter worth $108,000. Hedge funds and other institutional investors own 93.78% of the company's stock.

Insiders Place Their Bets

In other Lamar Advertising news, Director John E. Koerner III sold 17,000 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $120.05, for a total transaction of $2,040,850.00. Following the completion of the transaction, the director now owns 32,178 shares of the company's stock, valued at $3,862,968.90. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CFO Jay Lecoryelle Johnson sold 5,000 shares of the stock in a transaction dated Thursday, March 7th. The stock was 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 of the company's stock, valued at approximately $1,189,700. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director John E. Koerner III sold 17,000 shares of the business's stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $120.05, for a total transaction of $2,040,850.00. Following the sale, the director now owns 32,178 shares in the company, valued at $3,862,968.90. The disclosure for this sale can be found here. 14.98% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms recently weighed in on LAMR. Morgan Stanley upped their price target on shares of Lamar Advertising from $105.00 to $110.00 and gave the stock an "equal weight" rating in a research report on Monday, February 26th. StockNews.com downgraded Lamar Advertising from a "buy" rating to a "hold" rating in a research report on Monday, May 6th. Finally, JPMorgan Chase & Co. boosted their price target on Lamar Advertising from $92.00 to $109.00 and gave the stock a "neutral" rating in a research report on Monday, February 26th.

Lamar Advertising Price Performance

NASDAQ LAMR traded down $0.62 during trading hours on Monday, hitting $119.22. 339,825 shares of the company's stock traded hands, compared to its average volume of 416,925. The company has a market capitalization of $12.17 billion, a PE ratio of 24.48 and a beta of 1.49. 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 52-week low of $77.21 and a 52-week high of $121.99. The firm's 50-day moving average is $115.88 and its 200-day moving average is $107.53.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last issued 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). The company had revenue of $498.15 million during the quarter, compared to analyst estimates of $496.98 million. Lamar Advertising had a return on equity of 41.86% and a net margin of 23.29%. The firm's revenue was up 5.7% compared to the same quarter last year. During the same period last year, the business earned $1.41 earnings per share. Equities analysts forecast that Lamar Advertising will post 7.69 EPS for the current fiscal year.

Lamar Advertising Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were given a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 4.36%. This is a positive change from Lamar Advertising's previous quarterly dividend of $1.25. The ex-dividend date of this dividend was Thursday, March 14th. Lamar Advertising's dividend payout ratio is presently 106.78%.

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.

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