Lamar Advertising Company $LAMR Shares Purchased by Empowered Funds LLC

Empowered Funds LLC increased its holdings in shares of Lamar Advertising Company (NASDAQ:LAMR) by 66.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 64,947 shares of the real estate investment trust’s stock after buying an additional 26,041 shares during the period. Empowered Funds LLC owned about 0.06% of Lamar Advertising worth $7,882,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LAMR. AQR Capital Management LLC increased its position in shares of Lamar Advertising by 426.0% during the first quarter. AQR Capital Management LLC now owns 659,308 shares of the real estate investment trust’s stock worth $74,340,000 after acquiring an additional 533,959 shares during the period. Geode Capital Management LLC increased its holdings in Lamar Advertising by 27.8% during the 2nd quarter. Geode Capital Management LLC now owns 2,344,637 shares of the real estate investment trust’s stock worth $284,577,000 after purchasing an additional 510,025 shares during the period. Nuveen LLC purchased a new stake in Lamar Advertising during the 1st quarter worth about $40,699,000. Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of Lamar Advertising by 181.7% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 363,949 shares of the real estate investment trust’s stock valued at $41,410,000 after buying an additional 234,735 shares during the period. Finally, Millennium Management LLC boosted its stake in shares of Lamar Advertising by 158.6% in the 1st quarter. Millennium Management LLC now owns 306,887 shares of the real estate investment trust’s stock valued at $34,918,000 after buying an additional 188,213 shares during the period. Hedge funds and other institutional investors own 93.78% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on LAMR shares. JPMorgan Chase & Co. raised their target price on shares of Lamar Advertising from $122.00 to $128.00 and gave the company a “neutral” rating in a report on Wednesday, November 12th. Citigroup increased their price objective on shares of Lamar Advertising from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Thursday, November 13th. Wells Fargo & Company reduced their price objective on shares of Lamar Advertising from $122.00 to $119.00 and set an “equal weight” rating on the stock in a report on Monday, August 11th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Lamar Advertising in a research note on Thursday, November 13th. Finally, Morgan Stanley raised their price target on Lamar Advertising from $125.00 to $135.00 and gave the company an “equal weight” rating in a research note on Monday, August 4th. One analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $131.75.

Insider Transactions at Lamar Advertising

In other Lamar Advertising news, CFO Jay Lecoryelle Johnson sold 22,000 shares of Lamar Advertising stock in a transaction that occurred on Friday, August 22nd. The stock was 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 SEC, which is available at the SEC website. 14.99% of the stock is owned by corporate insiders.

Lamar Advertising Stock Down 1.5%

LAMR stock opened at $127.37 on Thursday. The stock has a market cap of $12.90 billion, a P/E ratio of 29.62 and a beta of 1.36. 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 twelve month low of $99.84 and a twelve month high of $135.91. The company’s 50 day moving average is $122.53 and its two-hundred day moving average is $122.12.

Lamar Advertising (NASDAQ:LAMR) last issued its earnings results on Thursday, November 6th. The real estate investment trust reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.14 by $0.06. Lamar Advertising had a net margin of 19.72% and a return on equity of 41.85%. The business had revenue of $585.54 million during the quarter, compared to analysts’ expectations of $584.00 million. Research analysts expect that Lamar Advertising Company will post 7.92 earnings per share for the current fiscal year.

Lamar Advertising Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Friday, September 19th were paid a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date was Friday, September 19th. Lamar Advertising’s dividend payout ratio (DPR) is currently 145.54%.

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.