Envestnet Portfolio Solutions Inc. Purchases 1,270 Shares of Lamar Advertising (NASDAQ:LAMR)

Envestnet Portfolio Solutions Inc. boosted its position in Lamar Advertising (NASDAQ:LAMR) by 13.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,853 shares of the real estate investment trust’s stock after buying an additional 1,270 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Lamar Advertising were worth $1,321,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of LAMR. Steward Partners Investment Advisory LLC increased its holdings in shares of Lamar Advertising by 2.4% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 9,101 shares of the real estate investment trust’s stock worth $1,108,000 after buying an additional 215 shares during the period. JPMorgan Chase & Co. increased its stake in Lamar Advertising by 6.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,497,702 shares of the real estate investment trust’s stock worth $200,093,000 after purchasing an additional 90,933 shares during the period. Nomura Asset Management Co. Ltd. increased its stake in Lamar Advertising by 19,961.8% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 110,340 shares of the real estate investment trust’s stock worth $14,741,000 after purchasing an additional 109,790 shares during the period. Franklin Resources Inc. lifted its position in Lamar Advertising by 39.8% in the third quarter. Franklin Resources Inc. now owns 51,503 shares of the real estate investment trust’s stock valued at $7,017,000 after purchasing an additional 14,672 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in shares of Lamar Advertising by 96.0% during the third quarter. BNP Paribas Financial Markets now owns 97,498 shares of the real estate investment trust’s stock valued at $13,026,000 after purchasing an additional 47,746 shares during the period. Hedge funds and other institutional investors own 93.78% of the company’s stock.

Wall Street Analysts Forecast Growth

LAMR has been the subject of a number of recent analyst reports. Citigroup upped their price target on shares of Lamar Advertising from $121.76 to $128.00 and gave the company a “neutral” rating in a report on Tuesday, February 25th. JPMorgan Chase & Co. lowered their price objective on shares of Lamar Advertising from $129.00 to $126.00 and set a “neutral” rating for the company in a research note on Friday, February 21st. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $134.60.

Lamar Advertising Stock Down 0.9 %

Shares of NASDAQ LAMR opened at $111.19 on Friday. The firm has a fifty day simple moving average of $123.20 and a two-hundred day simple moving average of $127.32. Lamar Advertising has a 12 month low of $108.80 and a 12 month high of $139.88. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 2.48. The firm has a market capitalization of $11.39 billion, a PE ratio of 31.50 and a beta of 1.53.

Lamar Advertising (NASDAQ:LAMR) last issued its quarterly earnings data on Thursday, February 20th. The real estate investment trust reported $2.21 EPS for the quarter, topping the consensus estimate of $1.47 by $0.74. Lamar Advertising had a net margin of 16.40% and a return on equity of 30.20%. The business had revenue of $579.57 million during the quarter, compared to analyst estimates of $583.19 million. Equities analysts expect that Lamar Advertising will post 7.92 earnings per share for the current year.

Lamar Advertising Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued a $1.55 dividend. This is an increase from Lamar Advertising’s previous quarterly dividend of $1.40. The ex-dividend date is Friday, March 14th. This represents a $6.20 dividend on an annualized basis and a yield of 5.58%. Lamar Advertising’s dividend payout ratio is 175.64%.

Lamar Advertising Company 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.