Thrivent Financial for Lutherans Purchases 13,974 Shares of Lamar Advertising Company $LAMR

Thrivent Financial for Lutherans boosted its position in Lamar Advertising Company (NASDAQ:LAMR) by 67.8% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 34,586 shares of the real estate investment trust’s stock after purchasing an additional 13,974 shares during the period. Thrivent Financial for Lutherans’ holdings in Lamar Advertising were worth $4,378,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in LAMR. Glenmede Investment Management LP boosted its stake in Lamar Advertising by 3.2% in the third quarter. Glenmede Investment Management LP now owns 2,590 shares of the real estate investment trust’s stock valued at $317,000 after acquiring an additional 81 shares during the last quarter. REAP Financial Group LLC boosted its stake in Lamar Advertising by 16.3% in the third quarter. REAP Financial Group LLC now owns 622 shares of the real estate investment trust’s stock valued at $76,000 after acquiring an additional 87 shares during the last quarter. Greenleaf Trust boosted its stake in Lamar Advertising by 1.6% in the fourth quarter. Greenleaf Trust now owns 5,540 shares of the real estate investment trust’s stock valued at $701,000 after acquiring an additional 87 shares during the last quarter. Alliance Wealth Advisors LLC boosted its stake in Lamar Advertising by 2.8% in the fourth quarter. Alliance Wealth Advisors LLC now owns 3,510 shares of the real estate investment trust’s stock valued at $444,000 after acquiring an additional 94 shares during the last quarter. Finally, Segment Wealth Management LLC boosted its stake in Lamar Advertising by 2.1% in the fourth quarter. Segment Wealth Management LLC now owns 4,555 shares of the real estate investment trust’s stock valued at $577,000 after acquiring an additional 94 shares during the last quarter. 93.78% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Weiss Ratings upgraded shares of Lamar Advertising from a “hold (c+)” rating to a “buy (b)” rating in a research note on Monday, February 23rd. Morgan Stanley set a $145.00 target price on shares of Lamar Advertising in a research note on Thursday, May 7th. TD Cowen boosted their target price on shares of Lamar Advertising from $150.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, May 14th. Wells Fargo & Company boosted their target price on shares of Lamar Advertising from $136.00 to $150.00 and gave the company an “equal weight” rating in a research note on Friday, May 8th. Finally, UBS Group set a $150.00 target price on shares of Lamar Advertising in a research note on Monday, February 23rd. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $148.00.

Lamar Advertising Stock Performance

Shares of LAMR stock opened at $153.10 on Friday. The stock has a market capitalization of $15.54 billion, a P/E ratio of 28.25 and a beta of 1.18. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 3.33. The firm’s 50 day moving average is $136.12 and its 200 day moving average is $132.18. Lamar Advertising Company has a 12 month low of $113.05 and a 12 month high of $158.69.

Lamar Advertising (NASDAQ:LAMR) last announced its quarterly earnings results on Thursday, May 7th. The real estate investment trust reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.18. The company had revenue of $528.00 million for the quarter, compared to analysts’ expectations of $522.86 million. Lamar Advertising had a net margin of 24.01% and a return on equity of 55.53%. On average, sell-side analysts anticipate that Lamar Advertising Company will post 8.24 earnings per share for the current year.

Lamar Advertising Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th will be paid a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date is Tuesday, June 16th. Lamar Advertising’s dividend payout ratio is presently 118.08%.

Insider Activity at Lamar Advertising

In related news, EVP Ross Lamar Reilly sold 5,969 shares of the company’s stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $128.65, for a total transaction of $767,911.85. Following the sale, the executive vice president directly owned 15,850 shares in the company, valued at approximately $2,039,102.50. This represents a 27.36% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 15.24% of the company’s stock.

Lamar Advertising Company Profile

Lamar Advertising Company (NASDAQ: LAMR) is one of North America’s largest outdoor advertising firms, specializing in out-of-home media solutions. Since its founding in 1902, the company has grown through a combination of organic expansion and strategic acquisitions to offer a broad portfolio of advertising products. Its core business centers on billboard advertising, encompassing traditional static billboards and a rapidly expanding network of digital displays. These assets enable advertisers to reach consumers with high-impact messaging along highways, in urban centers, and at high-traffic intersections.

In addition to highway billboards, Lamar offers a variety of supplemental out-of-home formats, including transit advertising on buses and shelters, and logo signage at travel plazas and gas stations.