Hartford Investment Management Co. Has $971,000 Stake in Lamar Advertising Company (LAMR)

Hartford Investment Management Co. cut its stake in shares of Lamar Advertising Company (NASDAQ:LAMR) by 11.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,169 shares of the real estate investment trust’s stock after selling 1,808 shares during the period. Hartford Investment Management Co.’s holdings in Lamar Advertising were worth $971,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in LAMR. BB&T Securities LLC grew its holdings in shares of Lamar Advertising by 7.3% during the third quarter. BB&T Securities LLC now owns 105,251 shares of the real estate investment trust’s stock worth $7,212,000 after purchasing an additional 7,126 shares in the last quarter. Schwab Charles Investment Management Inc. grew its holdings in shares of Lamar Advertising by 6.3% during the third quarter. Schwab Charles Investment Management Inc. now owns 346,123 shares of the real estate investment trust’s stock worth $23,720,000 after purchasing an additional 20,663 shares in the last quarter. Campbell & CO Investment Adviser LLC purchased a new position in shares of Lamar Advertising during the third quarter worth about $298,000. Schroder Investment Management Group grew its holdings in shares of Lamar Advertising by 2.6% during the third quarter. Schroder Investment Management Group now owns 928,508 shares of the real estate investment trust’s stock worth $63,130,000 after purchasing an additional 23,539 shares in the last quarter. Finally, Edgemoor Investment Advisors Inc. grew its holdings in shares of Lamar Advertising by 3.2% during the third quarter. Edgemoor Investment Advisors Inc. now owns 82,668 shares of the real estate investment trust’s stock worth $5,665,000 after purchasing an additional 2,595 shares in the last quarter. Hedge funds and other institutional investors own 84.42% of the company’s stock.

LAMR has been the subject of several recent analyst reports. MKM Partners cut their price objective on Lamar Advertising from $72.00 to $64.00 and set a “neutral” rating for the company in a report on Wednesday, August 9th. ValuEngine raised Lamar Advertising from a “hold” rating to a “buy” rating in a report on Thursday, August 10th. BidaskClub lowered Lamar Advertising from a “sell” rating to a “strong sell” rating in a report on Thursday, August 10th. Citigroup reissued a “neutral” rating and set a $66.00 price objective (down previously from $69.00) on shares of Lamar Advertising in a report on Friday, August 11th. Finally, Morgan Stanley cut their price objective on Lamar Advertising from $75.00 to $68.00 and set an “equal weight” rating for the company in a report on Monday, September 18th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $73.00.

Shares of Lamar Advertising Company (NASDAQ LAMR) opened at $76.14 on Tuesday. The stock has a market capitalization of $7,462.05, a P/E ratio of 15.19, a price-to-earnings-growth ratio of 5.23 and a beta of 1.16. The company has a debt-to-equity ratio of 2.23, a current ratio of 1.55 and a quick ratio of 1.55. Lamar Advertising Company has a 52 week low of $62.45 and a 52 week high of $79.09.

Lamar Advertising (NASDAQ:LAMR) last issued its earnings results on Monday, November 6th. The real estate investment trust reported $0.98 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.32 by ($0.34). The firm had revenue of $399.30 million during the quarter, compared to analysts’ expectations of $392.10 million. Lamar Advertising had a return on equity of 29.03% and a net margin of 20.33%. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.87 EPS. equities analysts expect that Lamar Advertising Company will post 4.83 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Monday, December 18th will be paid a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 4.36%. The ex-dividend date is Friday, December 15th. Lamar Advertising’s dividend payout ratio is currently 105.40%.

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Lamar Advertising Company Profile

Lamar Advertising Company is an outdoor advertising company in the United States. The Company operates in the advertising segment. The Company sells advertising on billboards, buses, shelters, benches and logo plates. It operates three types of outdoor advertising displays: billboards, logo signs and transit advertising displays.

Institutional Ownership by Quarter for Lamar Advertising (NASDAQ:LAMR)

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