Ellevest Inc. Acquires New Stake in Lamar Advertising Company $LAMR

Ellevest Inc. bought a new position in shares of Lamar Advertising Company (NASDAQ:LAMR) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 2,309 shares of the real estate investment trust’s stock, valued at approximately $280,000.

Several other institutional investors also recently bought and sold shares of the company. Hamlin Capital Management LLC boosted its stake in shares of Lamar Advertising by 2.1% in the second quarter. Hamlin Capital Management LLC now owns 1,338,419 shares of the real estate investment trust’s stock valued at $162,431,000 after purchasing an additional 26,893 shares during the period. Northern Trust Corp increased its stake in Lamar Advertising by 0.4% during the 1st quarter. Northern Trust Corp now owns 1,282,892 shares of the real estate investment trust’s stock worth $145,967,000 after buying an additional 4,495 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Lamar Advertising by 0.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,109,668 shares of the real estate investment trust’s stock worth $126,258,000 after buying an additional 7,426 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in Lamar Advertising by 5.8% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 917,833 shares of the real estate investment trust’s stock valued at $104,431,000 after buying an additional 50,004 shares during the period. Finally, HighTower Advisors LLC boosted its position in Lamar Advertising by 4.3% in the 1st quarter. HighTower Advisors LLC now owns 674,089 shares of the real estate investment trust’s stock valued at $76,698,000 after buying an additional 27,823 shares during the period. 93.78% of the stock is owned by institutional investors and hedge funds.

Lamar Advertising Stock Performance

Shares of LAMR stock opened at $119.97 on Friday. The company has a market cap of $12.14 billion, a P/E ratio of 27.90 and a beta of 1.36. The firm has a fifty day moving average price of $122.47 and a 200 day moving average price of $121.12. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 3.45. Lamar Advertising Company has a 12 month low of $99.84 and a 12 month high of $136.89.

Lamar Advertising (NASDAQ:LAMR) last announced its quarterly earnings results on Friday, August 8th. The real estate investment trust reported $2.22 earnings per share (EPS) 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 company had revenue of $579.31 million during the quarter, compared to the consensus estimate of $580.72 million. Sell-side analysts predict that Lamar Advertising Company will post 7.92 earnings per share for the current fiscal year.

Lamar Advertising Dividend Announcement

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

Insider Buying and Selling

In related news, CFO Jay Lecoryelle Johnson sold 22,000 shares of the stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $124.28, for a total value of $2,734,160.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 14.99% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on LAMR shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Lamar Advertising in a research report on Wednesday, October 8th. Morgan Stanley boosted their target price on Lamar Advertising from $125.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Monday, August 4th. Wells Fargo & Company cut their price target on Lamar Advertising from $122.00 to $119.00 and set an “equal weight” rating on the stock in a report on Monday, August 11th. Finally, JPMorgan Chase & Co. decreased their price objective on Lamar Advertising from $125.00 to $122.00 and set a “neutral” rating for the company in a research note on Monday, August 11th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Lamar Advertising has a consensus rating of “Moderate Buy” and a consensus price target of $134.20.

Lamar Advertising Company 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.