Lamar Advertising Company $LAMR Shares Sold by iA Global Asset Management Inc.

iA Global Asset Management Inc. lessened its stake in shares of Lamar Advertising Company (NASDAQ:LAMR) by 35.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,480 shares of the real estate investment trust’s stock after selling 820 shares during the period. iA Global Asset Management Inc.’s holdings in Lamar Advertising were worth $180,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Hamlin Capital Management LLC raised its position in shares of Lamar Advertising by 2.1% during the 2nd quarter. Hamlin Capital Management LLC now owns 1,338,419 shares of the real estate investment trust’s stock worth $162,431,000 after purchasing an additional 26,893 shares during the last quarter. Northern Trust Corp raised its position in shares of 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 purchasing an additional 4,495 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of 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 purchasing an additional 7,426 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Lamar Advertising by 5.8% in the first 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 last quarter. Finally, HighTower Advisors LLC raised its position in shares of Lamar Advertising by 4.3% in the first 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 last quarter. Institutional investors and hedge funds own 93.78% of the company’s stock.

Lamar Advertising Stock Performance

Lamar Advertising stock opened at $119.60 on Wednesday. The firm has a 50 day simple moving average of $122.78 and a 200-day simple moving average of $121.14. Lamar Advertising Company has a 1-year low of $99.84 and a 1-year high of $136.89. The company has a debt-to-equity ratio of 3.45, a current ratio of 0.58 and a quick ratio of 0.58. The stock has a market cap of $12.11 billion, a price-to-earnings ratio of 27.81 and a beta of 1.37.

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

Lamar Advertising Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Friday, September 19th were paid a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 5.2%. The ex-dividend date of this dividend was Friday, September 19th. Lamar Advertising’s dividend payout ratio (DPR) is 144.19%.

Analyst Ratings Changes

LAMR has been the subject of a number of recent research reports. Wells Fargo & Company reduced their target price on shares of 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. JPMorgan Chase & Co. reduced their target price on shares of Lamar Advertising from $125.00 to $122.00 and set a “neutral” rating for the company in a research report on Monday, August 11th. Morgan Stanley increased their target price on shares of Lamar Advertising from $125.00 to $135.00 and gave the company an “equal weight” rating in a research report on Monday, August 4th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Lamar Advertising in a research report on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $134.20.

Insiders Place Their Bets

In other Lamar Advertising news, CFO Jay Lecoryelle Johnson sold 22,000 shares of the stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $124.28, for a total transaction of $2,734,160.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 14.99% of the stock is currently owned by company insiders.

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.