Lamar Advertising (NASDAQ:LAMR) Position Increased by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC raised its position in Lamar Advertising (NASDAQ:LAMR) by 3.4% during the first quarter, HoldingsChannel.com reports. The firm owned 34,487 shares of the real estate investment trust’s stock after buying an additional 1,144 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Lamar Advertising were worth $4,118,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. State of Michigan Retirement System increased its position in Lamar Advertising by 0.5% during the fourth quarter. State of Michigan Retirement System now owns 21,038 shares of the real estate investment trust’s stock worth $2,236,000 after buying an additional 100 shares during the last quarter. Toronto Dominion Bank raised its stake in shares of Lamar Advertising by 1.2% in the 3rd quarter. Toronto Dominion Bank now owns 9,596 shares of the real estate investment trust’s stock valued at $801,000 after acquiring an additional 112 shares in the last quarter. First Hawaiian Bank raised its stake in shares of Lamar Advertising by 1.5% in the 4th quarter. First Hawaiian Bank now owns 7,924 shares of the real estate investment trust’s stock valued at $842,000 after acquiring an additional 116 shares in the last quarter. Rosenberg Matthew Hamilton lifted its holdings in Lamar Advertising by 4.3% in the 4th quarter. Rosenberg Matthew Hamilton now owns 2,841 shares of the real estate investment trust’s stock worth $302,000 after purchasing an additional 118 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC boosted its position in Lamar Advertising by 1.6% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 7,964 shares of the real estate investment trust’s stock worth $846,000 after purchasing an additional 123 shares during the period. 93.78% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Lamar Advertising from a “hold” rating to a “buy” rating in a research report on Friday, May 31st.

Lamar Advertising Trading Up 0.5 %

Shares of NASDAQ:LAMR opened at $118.57 on Wednesday. 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 stock’s 50-day moving average is $117.48 and its 200-day moving average is $112.67. The company has a market cap of $12.12 billion, a P/E ratio of 24.35 and a beta of 1.52. Lamar Advertising has a 52-week low of $77.21 and a 52-week high of $122.22.

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

Lamar Advertising Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Monday, June 17th were issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 4.39%. The ex-dividend date was Monday, June 17th. Lamar Advertising’s dividend payout ratio (DPR) is presently 106.78%.

Insider Buying and Selling at Lamar Advertising

In other news, Director John E. Koerner III sold 17,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the director now owns 32,178 shares of the company’s stock, valued at $3,862,968.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 14.98% of the company’s stock.

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.