Swiss National Bank Grows Position in Lamar Advertising (NASDAQ:LAMR)

Posted by on May 13th, 2023

Swiss National Bank raised its position in Lamar Advertising (NASDAQ:LAMR – Get Rating) by 1.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 210,338 shares of the real estate investment trust’s stock after buying an additional 3,900 shares during the quarter. Swiss National Bank owned approximately 0.21% of Lamar Advertising worth $19,856,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Invesco Ltd. increased its position in Lamar Advertising by 186.6% in the 1st quarter. Invesco Ltd. now owns 1,418,785 shares of the real estate investment trust’s stock valued at $164,834,000 after acquiring an additional 923,689 shares during the period. Boston Partners lifted its holdings in shares of Lamar Advertising by 36.2% during the fourth quarter. Boston Partners now owns 2,190,392 shares of the real estate investment trust’s stock worth $206,853,000 after purchasing an additional 582,441 shares during the period. Victory Capital Management Inc. grew its position in Lamar Advertising by 15.0% in the 3rd quarter. Victory Capital Management Inc. now owns 4,112,703 shares of the real estate investment trust’s stock valued at $339,257,000 after buying an additional 536,345 shares during the last quarter. Balyasny Asset Management LLC increased its stake in Lamar Advertising by 2,099.1% in the 3rd quarter. Balyasny Asset Management LLC now owns 308,338 shares of the real estate investment trust’s stock valued at $25,435,000 after buying an additional 294,317 shares during the period. Finally, Ceredex Value Advisors LLC acquired a new position in Lamar Advertising in the 4th quarter valued at $18,801,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Lamar Advertising Stock Performance

Shares of LAMR opened at $94.87 on Friday. The company has a market capitalization of $9.65 billion, a PE ratio of 22.75 and a beta of 1.38. Lamar Advertising has a 52-week low of $81.10 and a 52-week high of $111.49. The company has a 50-day simple moving average of $99.59 and a 200-day simple moving average of $98.98. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 2.71.

Lamar Advertising (NASDAQ:LAMR – Get Rating) last issued its earnings results on Thursday, May 4th. The real estate investment trust reported $0.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.58). The company had revenue of $471.33 million during the quarter, compared to analysts’ expectations of $470.51 million. Lamar Advertising had a net margin of 20.59% and a return on equity of 34.70%. During the same period last year, the business posted $1.50 earnings per share. Equities research analysts predict that Lamar Advertising will post 7.28 earnings per share for the current fiscal year.

Lamar Advertising Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Monday, June 19th will be given a dividend of $1.25 per share. The ex-dividend date of this dividend is Thursday, June 15th. This represents a $5.00 dividend on an annualized basis and a yield of 5.27%. Lamar Advertising’s payout ratio is 120.48%.

Insider Buying and Selling at Lamar Advertising

In other news, CFO Jay Lecoryelle Johnson sold 6,000 shares of Lamar Advertising stock in a transaction on Monday, March 20th. The stock was sold at an average price of $95.63, for a total transaction of $573,780.00. Following the completion of the transaction, 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 filing with the Securities & Exchange Commission, which is available at this link. 14.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on LAMR shares. JPMorgan Chase & Co. lifted their target price on shares of Lamar Advertising from $100.00 to $110.00 and gave the company a “neutral” rating in a report on Monday, February 27th. Citigroup boosted their target price on Lamar Advertising from $108.00 to $116.00 and gave the stock a “buy” rating in a research report on Wednesday, March 1st. Finally, StockNews.com initiated coverage on Lamar Advertising in a report on Thursday, March 16th. They issued a “hold” rating for the company.

Lamar Advertising Profile

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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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Institutional Ownership by Quarter for Lamar Advertising (NASDAQ:LAMR)

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