Natixis Advisors L.P. trimmed its holdings in shares of Lamar Advertising (NASDAQ:LAMR – Get Rating) by 20.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 34,342 shares of the real estate investment trust’s stock after selling 8,790 shares during the quarter. Natixis Advisors L.P.’s holdings in Lamar Advertising were worth $3,242,000 as of its most recent filing with the SEC.
Other large investors have also bought and sold shares of the company. Glassy Mountain Advisors Inc. bought a new stake in Lamar Advertising during the 4th quarter worth approximately $35,000. CWM LLC increased its stake in Lamar Advertising by 40.4% during the 3rd quarter. CWM LLC now owns 389 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 112 shares in the last quarter. Private Trust Co. NA bought a new stake in Lamar Advertising during the 2nd quarter worth approximately $35,000. Institutional & Family Asset Management LLC increased its stake in Lamar Advertising by 652.2% during the 3rd quarter. Institutional & Family Asset Management LLC now owns 519 shares of the real estate investment trust’s stock worth $43,000 after purchasing an additional 450 shares in the last quarter. Finally, Ellevest Inc. increased its stake in Lamar Advertising by 1,286.4% during the 3rd quarter. Ellevest Inc. now owns 610 shares of the real estate investment trust’s stock worth $50,000 after purchasing an additional 566 shares in the last quarter. 79.73% of the stock is owned by institutional investors.
Insider Activity
In other news, CFO Jay Lecoryelle Johnson sold 6,000 shares of the stock in a transaction that occurred on Monday, March 20th. The stock was sold at an average price of $95.63, for a total value of $573,780.00. Following the completion of the sale, the chief financial officer now owns 20,000 shares of the company’s stock, valued at approximately $1,912,600. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 14.90% of the stock is currently owned by insiders.
Analysts Set New Price Targets
Lamar Advertising Trading Up 3.0 %
NASDAQ LAMR opened at $104.77 on Tuesday. The company has a market cap of $10.66 billion, a PE ratio of 24.25 and a beta of 1.38. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 2.58. Lamar Advertising has a 12 month low of $81.10 and a 12 month high of $119.68. The stock has a 50 day moving average of $101.37 and a 200-day moving average of $97.24.
Lamar Advertising (NASDAQ:LAMR – Get Rating) last released its quarterly earnings data on Friday, February 24th. The real estate investment trust reported $0.65 EPS for the quarter, missing the consensus estimate of $1.69 by ($1.04). The company had revenue of $535.51 million during the quarter, compared to analyst estimates of $536.42 million. Lamar Advertising had a net margin of 21.58% and a return on equity of 35.56%. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.78 EPS. On average, equities research analysts anticipate that Lamar Advertising will post 7.24 EPS for the current fiscal year.
Lamar Advertising Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 31st. Stockholders of record on Friday, March 17th were issued a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 4.77%. The ex-dividend date was Thursday, March 16th. This is an increase from Lamar Advertising’s previous quarterly dividend of $1.20. Lamar Advertising’s dividend payout ratio is presently 115.74%.
About Lamar Advertising
Lamar Advertising Co engages in advertising services. The firm rents advertising space on billboards, buses, shelters, benches, logo plates, and in airport terminals. The company was founded in 1902 and is headquartered in Baton Rouge, LA.
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