PNC Financial Services Group Inc. Purchases 1,643 Shares of Lamar Advertising (NASDAQ:LAMR)

PNC Financial Services Group Inc. grew its position in Lamar Advertising (NASDAQ:LAMR) by 2.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 57,652 shares of the real estate investment trust’s stock after buying an additional 1,643 shares during the period. PNC Financial Services Group Inc. owned 0.06% of Lamar Advertising worth $6,127,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Pathstone Family Office LLC increased its holdings in shares of Lamar Advertising by 58.1% during the 3rd quarter. Pathstone Family Office LLC now owns 5,337 shares of the real estate investment trust’s stock valued at $453,000 after purchasing an additional 1,961 shares in the last quarter. UBS Group AG grew its stake in Lamar Advertising by 2.5% in the 3rd quarter. UBS Group AG now owns 151,191 shares of the real estate investment trust’s stock valued at $12,620,000 after acquiring an additional 3,676 shares during the period. Prudential PLC grew its stake in Lamar Advertising by 21.1% in the 3rd quarter. Prudential PLC now owns 23,321 shares of the real estate investment trust’s stock valued at $1,947,000 after acquiring an additional 4,060 shares during the period. Envestnet Portfolio Solutions Inc. acquired a new stake in Lamar Advertising in the 3rd quarter valued at $1,190,000. Finally, Envestnet Asset Management Inc. grew its stake in Lamar Advertising by 42.3% in the 3rd quarter. Envestnet Asset Management Inc. now owns 410,966 shares of the real estate investment trust’s stock valued at $34,303,000 after acquiring an additional 122,120 shares during the period. 93.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Lamar Advertising

In other news, Director John E. Koerner III sold 17,000 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $120.05, for a total transaction of $2,040,850.00. Following the transaction, the director now directly owns 32,178 shares in the company, valued at $3,862,968.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 14.98% of the stock is currently owned by insiders.

Lamar Advertising Stock Down 0.2 %

Shares of LAMR opened at $114.35 on Tuesday. The stock has a market capitalization of $11.69 billion, a PE ratio of 23.48 and a beta of 1.50. Lamar Advertising has a 1 year low of $77.21 and a 1 year high of $122.22. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.38 and a current ratio of 0.38. The company’s 50-day simple moving average is $116.43 and its 200-day simple moving average is $111.76.

Lamar Advertising (NASDAQ:LAMR) last issued its earnings results on Thursday, May 2nd. The real estate investment trust reported $0.76 earnings per share for the quarter, missing the consensus estimate of $1.47 by ($0.71). The firm had revenue of $498.15 million during the quarter, compared to analyst estimates of $496.98 million. Lamar Advertising had a net margin of 23.29% and a return on equity of 41.86%. The firm’s revenue was up 5.7% compared to the same quarter last year. During the same period last year, the business earned $1.41 EPS. Analysts forecast that Lamar Advertising will post 7.69 earnings per share for the current fiscal year.

Lamar Advertising Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Monday, June 17th will be paid a $1.30 dividend. The ex-dividend date of this dividend is Monday, June 17th. This represents a $5.20 annualized dividend and a yield of 4.55%. Lamar Advertising’s dividend payout ratio is currently 106.78%.

Wall Street Analysts Forecast Growth

LAMR has been the topic of a number of research analyst reports. JPMorgan Chase & Co. lifted their price target on shares of Lamar Advertising from $92.00 to $109.00 and gave the company a “neutral” rating in a research note on Monday, February 26th. Morgan Stanley upped their price objective on shares of Lamar Advertising from $105.00 to $110.00 and gave the company an “equal weight” rating in a report on Monday, February 26th. Finally, StockNews.com raised shares of Lamar Advertising from a “hold” rating to a “buy” rating in a research report on Friday, May 31st.

About Lamar Advertising

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.