Carret Asset Management LLC Has $584,000 Stock Holdings in Lamar Advertising Company $LAMR

Carret Asset Management LLC boosted its stake in shares of Lamar Advertising Company (NASDAQ:LAMR) by 3.8% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,810 shares of the real estate investment trust’s stock after purchasing an additional 175 shares during the period. Carret Asset Management LLC’s holdings in Lamar Advertising were worth $584,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Retirement Systems of Alabama boosted its position in Lamar Advertising by 0.5% during the second quarter. Retirement Systems of Alabama now owns 107,519 shares of the real estate investment trust’s stock valued at $13,049,000 after purchasing an additional 488 shares during the last quarter. Assetmark Inc. lifted its position in shares of Lamar Advertising by 113.5% in the second quarter. Assetmark Inc. now owns 77,879 shares of the real estate investment trust’s stock valued at $9,451,000 after buying an additional 41,409 shares during the last quarter. Markel Group Inc. lifted its position in shares of Lamar Advertising by 15.3% in the second quarter. Markel Group Inc. now owns 158,000 shares of the real estate investment trust’s stock valued at $19,175,000 after buying an additional 21,000 shares during the last quarter. Austin Private Wealth LLC lifted its position in shares of Lamar Advertising by 7.9% in the second quarter. Austin Private Wealth LLC now owns 2,247 shares of the real estate investment trust’s stock valued at $273,000 after buying an additional 164 shares during the last quarter. Finally, Purkiss Capital Advisors LLC lifted its position in shares of Lamar Advertising by 245.2% in the second 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 during the last quarter. 93.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Lamar Advertising Stock Performance

NASDAQ:LAMR opened at $116.11 on Friday. The stock has a market cap of $11.75 billion, a P/E ratio of 27.00 and a beta of 1.37. The stock has a 50 day simple moving average of $123.17 and a 200 day simple moving average of $120.76. 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 1-year low of $99.84 and a 1-year high of $136.89.

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

Lamar Advertising Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Friday, September 19th were issued a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 5.3%. The ex-dividend date of this dividend was Friday, September 19th. Lamar Advertising’s dividend payout ratio (DPR) is presently 144.19%.

Insiders Place Their Bets

In related 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 14.99% of the company’s stock.

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.