Norges Bank Makes New $104.71 Million Investment in Lamar Advertising Company $LAMR

Norges Bank bought a new position in Lamar Advertising Company (NASDAQ:LAMR) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 827,182 shares of the real estate investment trust’s stock, valued at approximately $104,705,000. Norges Bank owned 0.82% of Lamar Advertising at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in LAMR. Eurizon Capital SGR S.p.A. bought a new position in shares of Lamar Advertising in the fourth quarter valued at $129,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Lamar Advertising by 11.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 11,917 shares of the real estate investment trust’s stock valued at $1,508,000 after buying an additional 1,184 shares in the last quarter. Intech Investment Management LLC increased its holdings in shares of Lamar Advertising by 3,390.6% in the fourth quarter. Intech Investment Management LLC now owns 105,556 shares of the real estate investment trust’s stock valued at $13,361,000 after buying an additional 102,532 shares in the last quarter. Baker Avenue Asset Management LP increased its holdings in shares of Lamar Advertising by 94.1% in the fourth quarter. Baker Avenue Asset Management LP now owns 3,811 shares of the real estate investment trust’s stock valued at $482,000 after buying an additional 1,848 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Lamar Advertising by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 2,382,137 shares of the real estate investment trust’s stock valued at $301,573,000 after buying an additional 32,542 shares in the last quarter. 93.78% of the stock is currently owned by institutional investors and hedge funds.

Lamar Advertising Price Performance

Shares of NASDAQ:LAMR opened at $151.42 on Friday. The company’s fifty day moving average is $140.46 and its two-hundred day moving average is $134.10. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 3.33. Lamar Advertising Company has a 12-month low of $113.66 and a 12-month high of $158.69. The company has a market cap of $15.36 billion, a P/E ratio of 27.94 and a beta of 1.20.

Lamar Advertising (NASDAQ:LAMR) last announced its earnings results on Thursday, May 7th. The real estate investment trust reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.18. Lamar Advertising had a net margin of 24.01% and a return on equity of 55.53%. The company had revenue of $528.00 million for the quarter, compared to the consensus estimate of $522.86 million. Equities analysts expect that Lamar Advertising Company will post 8.41 earnings per share for the current fiscal year.

Lamar Advertising Announces Dividend

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

Insider Transactions at Lamar Advertising

In other Lamar Advertising news, EVP Ross Lamar Reilly sold 5,969 shares of the business’s stock in a transaction 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 of the company’s stock, valued at $2,039,102.50. The trade was a 27.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 15.24% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on LAMR. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Lamar Advertising in a report on Friday, May 22nd. TD Cowen upped their price target on Lamar Advertising from $150.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, May 14th. Wells Fargo & Company upped their price target on Lamar Advertising from $136.00 to $150.00 and gave the company an “equal weight” rating in a report on Friday, May 8th. Morgan Stanley set a $145.00 price target on Lamar Advertising in a report on Thursday, May 7th. Finally, UBS Group set a $150.00 price target on Lamar Advertising in a report on Monday, February 23rd. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Lamar Advertising has an average rating of “Moderate Buy” and an average target price of $148.00.

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.