Lamar Advertising Company $LAMR Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC raised its stake in Lamar Advertising Company (NASDAQ:LAMR) by 1.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,382,137 shares of the real estate investment trust’s stock after acquiring an additional 32,542 shares during the quarter. Geode Capital Management LLC’s holdings in Lamar Advertising were worth $301,573,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Assetmark Inc. lifted its holdings in Lamar Advertising by 31.3% in the third quarter. Assetmark Inc. now owns 102,270 shares of the real estate investment trust’s stock valued at $12,520,000 after acquiring an additional 24,391 shares during the period. SG Americas Securities LLC lifted its holdings in Lamar Advertising by 323.6% in the fourth quarter. SG Americas Securities LLC now owns 75,297 shares of the real estate investment trust’s stock valued at $9,531,000 after acquiring an additional 57,520 shares during the period. Berkshire Hathaway Inc lifted its holdings in Lamar Advertising by 2.8% in the third quarter. Berkshire Hathaway Inc now owns 1,202,110 shares of the real estate investment trust’s stock valued at $147,162,000 after acquiring an additional 32,603 shares during the period. Markel Group Inc. lifted its holdings in Lamar Advertising by 8.8% in the fourth quarter. Markel Group Inc. now owns 185,000 shares of the real estate investment trust’s stock valued at $23,417,000 after acquiring an additional 15,000 shares during the period. Finally, Knights of Columbus Asset Advisors LLC acquired a new position in shares of Lamar Advertising during the 4th quarter worth approximately $1,872,000. 93.78% of the stock is owned by institutional investors and hedge funds.

Lamar Advertising Stock Down 1.3%

Shares of LAMR opened at $150.47 on Tuesday. The company has a debt-to-equity ratio of 3.33, a quick ratio of 0.58 and a current ratio of 0.58. Lamar Advertising Company has a one year low of $113.66 and a one year high of $158.69. The stock has a market capitalization of $15.27 billion, a price-to-earnings ratio of 27.76 and a beta of 1.20. The stock has a 50 day moving average price of $138.53 and a 200 day moving average price of $133.51.

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

Lamar Advertising Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th will be issued a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 4.3%. The ex-dividend date is Tuesday, June 16th. Lamar Advertising’s dividend payout ratio is presently 118.08%.

Analyst Ratings Changes

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

Insider Transactions at Lamar Advertising

In other Lamar Advertising news, EVP Ross Lamar Reilly sold 5,969 shares of the company’s stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $128.65, for a total value of $767,911.85. Following the completion of the sale, the executive vice president directly owned 15,850 shares in the company, valued at $2,039,102.50. This represents a 27.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 15.24% of the stock is currently owned by insiders.

About Lamar Advertising

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.