Capital Investment Counsel LLC Sells 357 Shares of Lamar Advertising Company $LAMR

Capital Investment Counsel LLC lessened its holdings in shares of Lamar Advertising Company (NASDAQ:LAMR) by 0.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 57,352 shares of the real estate investment trust’s stock after selling 357 shares during the period. Capital Investment Counsel LLC’s holdings in Lamar Advertising were worth $6,960,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Purkiss Capital Advisors LLC boosted its holdings in shares of Lamar Advertising by 245.2% during the 2nd quarter. Purkiss Capital Advisors LLC now owns 8,409 shares of the real estate investment trust’s stock valued at $1,020,000 after buying an additional 5,973 shares in the last quarter. Transcend Capital Advisors LLC bought a new stake in shares of Lamar Advertising during the 2nd quarter valued at $300,000. Signature Wealth Management Group boosted its holdings in shares of Lamar Advertising by 1.6% during the 2nd quarter. Signature Wealth Management Group now owns 32,735 shares of the real estate investment trust’s stock valued at $3,973,000 after buying an additional 504 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Lamar Advertising by 4.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 474,208 shares of the real estate investment trust’s stock valued at $57,550,000 after buying an additional 19,812 shares in the last quarter. Finally, Brighton Jones LLC bought a new stake in shares of Lamar Advertising during the 2nd quarter valued at $979,000. Institutional investors own 93.78% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Jay Lecoryelle Johnson sold 22,000 shares of the company’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $124.28, for a total transaction of $2,734,160.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 14.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Weiss Ratings reiterated a “buy (b-)” rating on shares of Lamar Advertising in a research note on Wednesday, October 8th. JPMorgan Chase & Co. dropped their price target on shares of Lamar Advertising from $125.00 to $122.00 and set a “neutral” rating on the stock in a research note on Monday, August 11th. Morgan Stanley upped their price target on shares of Lamar Advertising from $125.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Monday, August 4th. Finally, Wells Fargo & Company dropped their price target on shares of Lamar Advertising from $122.00 to $119.00 and set an “equal weight” rating on the stock in a research note on Monday, August 11th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $134.20.

Lamar Advertising Price Performance

Shares of NASDAQ:LAMR opened at $120.02 on Tuesday. Lamar Advertising Company has a fifty-two week low of $99.84 and a fifty-two week high of $137.30. The business has a 50-day simple moving average of $123.45 and a two-hundred day simple moving average of $120.70. The company has a debt-to-equity ratio of 3.45, a quick ratio of 0.58 and a current ratio of 0.58. The firm has a market cap of $12.15 billion, a price-to-earnings ratio of 27.91 and a beta of 1.37.

Lamar Advertising (NASDAQ:LAMR) last issued its earnings results on Friday, August 8th. The real estate investment trust reported $2.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.48 by $0.74. Lamar Advertising had a return on equity of 41.85% and a net margin of 19.72%.The business had revenue of $579.31 million during the quarter, compared to analyst estimates of $580.72 million. Lamar Advertising has set its FY 2025 guidance at 6.090-6.11 EPS. On average, analysts expect that Lamar Advertising Company will post 7.92 earnings per share for the current year.

Lamar Advertising Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Friday, September 19th were given a $1.55 dividend. The ex-dividend date of this dividend was Friday, September 19th. This represents a $6.20 dividend on an annualized basis and a yield of 5.2%. Lamar Advertising’s payout ratio is 144.19%.

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.