NewEdge Advisors LLC Has $4.33 Million Stock Holdings in Lamar Advertising (NASDAQ:LAMR)

NewEdge Advisors LLC lifted its stake in shares of Lamar Advertising (NASDAQ:LAMR) by 8.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,218 shares of the real estate investment trust’s stock after acquiring an additional 2,753 shares during the quarter. NewEdge Advisors LLC’s holdings in Lamar Advertising were worth $4,329,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the stock. Creative Planning raised its position in shares of Lamar Advertising by 13.5% during the second quarter. Creative Planning now owns 11,880 shares of the real estate investment trust’s stock worth $1,420,000 after acquiring an additional 1,412 shares during the last quarter. Duff & Phelps Investment Management Co. raised its position in shares of Lamar Advertising by 25.5% during the second quarter. Duff & Phelps Investment Management Co. now owns 24,640 shares of the real estate investment trust’s stock worth $2,945,000 after acquiring an additional 5,000 shares during the last quarter. JCP Investment Management LLC raised its position in shares of Lamar Advertising by 51.0% during the second quarter. JCP Investment Management LLC now owns 74,000 shares of the real estate investment trust’s stock worth $8,845,000 after acquiring an additional 25,000 shares during the last quarter. Drucker Wealth 3.0 LLC bought a new position in shares of Lamar Advertising during the second quarter worth about $4,591,000. Finally, Abich Financial Wealth Management LLC raised its position in shares of Lamar Advertising by 34.4% during the second quarter. Abich Financial Wealth Management LLC now owns 782 shares of the real estate investment trust’s stock worth $94,000 after acquiring an additional 200 shares during the last quarter. 93.78% of the stock is currently owned by institutional investors.

Lamar Advertising Trading Down 0.2 %

Shares of LAMR stock opened at $131.50 on Thursday. The company has a market cap of $13.44 billion, a P/E ratio of 27.00 and a beta of 1.52. The stock has a 50 day simple moving average of $123.66 and a two-hundred day simple moving average of $119.32. The company has a debt-to-equity ratio of 2.31, a quick ratio of 0.41 and a current ratio of 0.41. Lamar Advertising has a fifty-two week low of $77.21 and a fifty-two week high of $137.40.

Lamar Advertising (NASDAQ:LAMR) last announced its quarterly earnings data on Thursday, August 8th. The real estate investment trust reported $1.34 EPS for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.67). Lamar Advertising had a net margin of 23.34% and a return on equity of 42.18%. The firm had revenue of $565.25 million during the quarter, compared to analyst estimates of $564.96 million. During the same period last year, the business posted $1.90 EPS. The company’s revenue was up 4.5% on a year-over-year basis. Research analysts forecast that Lamar Advertising will post 7.75 earnings per share for the current year.

Lamar Advertising Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Wednesday, September 18th were paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 4.26%. The ex-dividend date was Wednesday, September 18th. This is a boost from Lamar Advertising’s previous quarterly dividend of $1.30. Lamar Advertising’s dividend payout ratio (DPR) is 114.99%.

Wall Street Analyst Weigh In

LAMR has been the subject of a number of analyst reports. Citigroup downgraded Lamar Advertising from a “buy” rating to a “neutral” rating and set a $122.00 price objective for the company. in a research report on Thursday, July 11th. JPMorgan Chase & Co. lifted their target price on Lamar Advertising from $117.00 to $121.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Wells Fargo & Company initiated coverage on Lamar Advertising in a report on Thursday, September 19th. They issued an “equal weight” rating and a $132.00 target price for the company. StockNews.com downgraded Lamar Advertising from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, TD Cowen lifted their target price on Lamar Advertising from $135.00 to $140.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $125.00.

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.