New England Asset Management Inc. Has $7 Million Stake in Lamar Advertising (NASDAQ:LAMR)

New England Asset Management Inc. decreased its holdings in Lamar Advertising (NASDAQ:LAMR - Free Report) by 11.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 57,475 shares of the real estate investment trust's stock after selling 7,565 shares during the period. Lamar Advertising comprises approximately 1.2% of New England Asset Management Inc.'s investment portfolio, making the stock its 23rd biggest holding. New England Asset Management Inc. owned approximately 0.06% of Lamar Advertising worth $6,997,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of LAMR. Cohen & Steers Inc. grew its position in shares of Lamar Advertising by 453.6% in the fourth quarter. Cohen & Steers Inc. now owns 2,660,664 shares of the real estate investment trust's stock valued at $323,900,000 after purchasing an additional 2,180,011 shares during the last quarter. FMR LLC grew its position in shares of Lamar Advertising by 11.0% in the fourth quarter. FMR LLC now owns 5,527,270 shares of the real estate investment trust's stock valued at $672,890,000 after purchasing an additional 545,606 shares during the last quarter. Daiwa Securities Group Inc. grew its position in shares of Lamar Advertising by 108.3% in the fourth quarter. Daiwa Securities Group Inc. now owns 905,368 shares of the real estate investment trust's stock valued at $110,220,000 after purchasing an additional 470,805 shares during the last quarter. Norges Bank acquired a new position in shares of Lamar Advertising in the fourth quarter valued at approximately $57,255,000. Finally, Northern Trust Corp grew its position in shares of Lamar Advertising by 50.5% in the fourth quarter. Northern Trust Corp now owns 1,278,397 shares of the real estate investment trust's stock valued at $155,632,000 after purchasing an additional 428,744 shares during the last quarter. Institutional investors own 93.78% of the company's stock.

Lamar Advertising Price Performance

Shares of LAMR stock traded up $3.00 during trading hours on Friday, reaching $119.87. The company's stock had a trading volume of 811,504 shares, compared to its average volume of 511,600. The firm's 50 day simple moving average is $112.46 and its 200-day simple moving average is $121.83. The company has a market capitalization of $12.27 billion, a price-to-earnings ratio of 33.96 and a beta of 1.38. Lamar Advertising has a fifty-two week low of $99.84 and a fifty-two week high of $139.88. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 2.48.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last issued its earnings results on Thursday, May 8th. The real estate investment trust reported $1.60 earnings per share for the quarter, beating analysts' consensus estimates of $1.54 by $0.06. The firm had revenue of $505.43 million for the quarter, compared to the consensus estimate of $509.72 million. Lamar Advertising had a return on equity of 30.20% and a net margin of 16.40%. Sell-side analysts forecast that Lamar Advertising will post 7.92 earnings per share for the current year.

Lamar Advertising Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be issued a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a dividend yield of 5.17%. The ex-dividend date is Monday, June 16th. Lamar Advertising's dividend payout ratio is presently 150.49%.

Analyst Ratings Changes

Several research firms have recently commented on LAMR. JPMorgan Chase & Co. decreased their target price on Lamar Advertising from $129.00 to $126.00 and set a "neutral" rating on the stock in a research report on Friday, February 21st. Morgan Stanley reduced their price target on Lamar Advertising from $135.00 to $125.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 1st. Finally, Citigroup increased their price target on Lamar Advertising from $121.76 to $128.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 25th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $132.60.

Lamar Advertising 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.