Lamar Advertising Company $LAMR Stock Acquired by Machina Capital S.A.S.

Machina Capital S.A.S. raised its stake in Lamar Advertising Company (NASDAQ:LAMR) by 153.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,113 shares of the real estate investment trust’s stock after buying an additional 5,524 shares during the period. Machina Capital S.A.S.’s holdings in Lamar Advertising were worth $1,313,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Eastern Bank bought a new stake in shares of Lamar Advertising during the 3rd quarter worth $26,000. Parkside Financial Bank & Trust grew its position in Lamar Advertising by 53.8% in the second quarter. Parkside Financial Bank & Trust now owns 243 shares of the real estate investment trust’s stock worth $38,000 after acquiring an additional 85 shares in the last quarter. Elevation Wealth Partners LLC increased its stake in Lamar Advertising by 451.1% in the second quarter. Elevation Wealth Partners LLC now owns 259 shares of the real estate investment trust’s stock valued at $40,000 after acquiring an additional 212 shares during the last quarter. Provenance Wealth Advisors LLC bought a new position in Lamar Advertising in the third quarter valued at $42,000. Finally, CX Institutional increased its stake in Lamar Advertising by 238.0% in the third quarter. CX Institutional now owns 311 shares of the real estate investment trust’s stock valued at $45,000 after acquiring an additional 219 shares during the last quarter. Institutional investors own 93.78% of the company’s stock.

Lamar Advertising Price Performance

Shares of Lamar Advertising stock opened at $159.65 on Friday. The company has a debt-to-equity ratio of 3.16, a quick ratio of 0.59 and a current ratio of 0.59. Lamar Advertising Company has a 52-week low of $122.31 and a 52-week high of $166.33. The company has a fifty day moving average of $150.61 and a 200-day moving average of $145.97. The stock has a market capitalization of $16.21 billion, a price-to-earnings ratio of 28.16 and a beta of 1.23.

Lamar Advertising Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Monday, September 21st were given a dividend of $1.65 per share. The ex-dividend date was Monday, September 21st. This is a positive change from Lamar Advertising’s previous quarterly dividend of $1.60. This represents a $6.60 annualized dividend and a yield of 4.1%. Lamar Advertising’s dividend payout ratio (DPR) is currently 116.40%.

Insider Transactions at Lamar Advertising

In other news, Director Thomas Reifenheiser sold 8,099 shares of the firm’s stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $149.03, for a total transaction of $1,206,993.97. Following the transaction, the director directly owned 36,387 shares of the company’s stock, valued at approximately $5,422,754.61. This trade represents a 18.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Jay Johnson sold 7,600 shares of Lamar Advertising stock in a transaction dated Monday, November 9th. The stock was sold at an average price of $156.92, for a total value of $1,192,592.00. The SEC filing for this sale provides additional information. 15.24% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. JPMorgan Chase & Co. raised their price target on Lamar Advertising from $160.00 to $161.00 and gave the company a “neutral” rating in a research report on Friday, November 6th. Cfra cut Lamar Advertising from a “hold” rating to a “sell” rating and set a $145.00 price objective for the company. in a report on Wednesday. Weiss Ratings reiterated a “buy (b)” rating on shares of Lamar Advertising in a research report on Wednesday, August 19th. Morgan Stanley set a $170.00 price objective on Lamar Advertising in a report on Friday, August 7th. Finally, Wells Fargo & Company boosted their target price on Lamar Advertising from $156.00 to $158.00 and gave the stock an “equal weight” rating in a research report on Friday, November 6th. Two research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Lamar Advertising currently has a consensus rating of “Hold” and an average price target of $159.14.

Lamar Advertising Company Profile

Lamar Advertising Company is an out-of-home advertising company that provides businesses and organizations with ways to reach audiences beyond traditional media. Its offerings include billboard advertising, highway logo signs that direct travelers to nearby businesses and services, and transit advertising on vehicles and in transit-related locations. The company traces its origins to 1902 and is headquartered in Baton Rouge, Louisiana. It serves advertisers across the United States and Canada, with local operations supporting campaigns in markets throughout its service area.