Lamar Advertising Company $LAMR Stake Lessened by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA cut its stake in Lamar Advertising Company (NASDAQ:LAMR) by 5.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 867,266 shares of the real estate investment trust’s stock after selling 50,567 shares during the period. Massachusetts Financial Services Co. MA owned 0.85% of Lamar Advertising worth $105,251,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in LAMR. Geode Capital Management LLC raised its stake in shares of Lamar Advertising by 27.8% in the 2nd quarter. Geode Capital Management LLC now owns 2,344,637 shares of the real estate investment trust’s stock valued at $284,577,000 after purchasing an additional 510,025 shares in the last quarter. Hamlin Capital Management LLC increased its holdings in Lamar Advertising by 2.1% in the second quarter. Hamlin Capital Management LLC now owns 1,338,419 shares of the real estate investment trust’s stock valued at $162,431,000 after buying an additional 26,893 shares during the last quarter. Northern Trust Corp raised its stake in Lamar Advertising by 0.4% during the first quarter. Northern Trust Corp now owns 1,282,892 shares of the real estate investment trust’s stock valued at $145,967,000 after buying an additional 4,495 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Lamar Advertising by 0.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,109,668 shares of the real estate investment trust’s stock valued at $126,258,000 after buying an additional 7,426 shares in the last quarter. Finally, HighTower Advisors LLC lifted its holdings in Lamar Advertising by 4.3% during the 1st quarter. HighTower Advisors LLC now owns 674,089 shares of the real estate investment trust’s stock worth $76,698,000 after buying an additional 27,823 shares during the last quarter. 93.78% of the stock is owned by institutional investors and hedge funds.

Lamar Advertising Price Performance

Shares of NASDAQ LAMR opened at $126.66 on Tuesday. 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 firm has a market capitalization of $12.83 billion, a PE ratio of 29.46 and a beta of 1.36. Lamar Advertising Company has a 1-year low of $99.84 and a 1-year high of $135.91. The business’s fifty day moving average price is $122.48 and its two-hundred day moving average price is $121.99.

Lamar Advertising (NASDAQ:LAMR) last announced its quarterly 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 company had revenue of $585.54 million during the quarter, compared to the consensus estimate of $584.00 million. On average, research analysts expect that Lamar Advertising Company will post 7.92 EPS for the current year.

Lamar Advertising Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Friday, September 19th were given a $1.55 dividend. The ex-dividend date was Friday, September 19th. This represents a $6.20 annualized dividend and a yield of 4.9%. Lamar Advertising’s dividend payout ratio is 145.54%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on LAMR. Weiss Ratings reiterated a “hold (c+)” rating on shares of Lamar Advertising in a report on Thursday. JPMorgan Chase & Co. lifted their price objective on shares of Lamar Advertising from $122.00 to $128.00 and gave the stock a “neutral” rating in a report on Wednesday, November 12th. Morgan Stanley increased their target price on shares of Lamar Advertising from $125.00 to $135.00 and gave the stock an “equal weight” rating in a report on Monday, August 4th. Citigroup lifted their price target on shares of Lamar Advertising from $135.00 to $145.00 and gave the company a “buy” rating in a report on Thursday, November 13th. Finally, Wells Fargo & Company lowered their price objective 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. One analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Lamar Advertising has an average rating of “Hold” and a consensus target price of $131.75.

Insider Activity at Lamar Advertising

In other Lamar Advertising news, CFO Jay Lecoryelle Johnson sold 22,000 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $124.28, for a total value of $2,734,160.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 14.99% of the company’s stock.

Lamar Advertising Company 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.