Virginia Retirement Systems ET AL Takes Position in Lamar Advertising Co. (LAMR)
Virginia Retirement Systems ET AL bought a new position in Lamar Advertising Co. (NASDAQ:LAMR) during the second quarter, Holdings Channel reports. The institutional investor bought 12,600 shares of the company’s stock, valued at approximately $835,000.
Other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new stake in Lamar Advertising during the fourth quarter valued at $41,722,000. Virginia Retirement System bought a new stake in Lamar Advertising during the first quarter valued at $793,000. IFP Advisors Inc increased its stake in Lamar Advertising by 366.3% in the first quarter. IFP Advisors Inc now owns 6,388 shares of the company’s stock valued at $393,000 after buying an additional 5,018 shares during the period. Los Angeles Capital Management & Equity Research Inc. increased its stake in Lamar Advertising by 125.8% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 334,449 shares of the company’s stock valued at $20,569,000 after buying an additional 186,345 shares during the period. Finally, TIAA CREF Investment Management LLC increased its stake in Lamar Advertising by 64.3% in the first quarter. TIAA CREF Investment Management LLC now owns 214,105 shares of the company’s stock valued at $13,167,000 after buying an additional 83,800 shares during the period. 80.05% of the stock is owned by institutional investors and hedge funds.
Lamar Advertising Co. (NASDAQ:LAMR) opened at 65.31 on Monday. The stock has a market capitalization of $6.36 billion, a PE ratio of 21.50 and a beta of 1.69. Lamar Advertising Co. has a 12-month low of $49.73 and a 12-month high of $69.35. The company’s 50-day moving average is $62.79 and its 200 day moving average is $63.54.
Lamar Advertising (NASDAQ:LAMR) last released its quarterly earnings data on Tuesday, August 9th. The company reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.01. The business earned $387.50 million during the quarter, compared to analyst estimates of $384.09 million. Lamar Advertising had a net margin of 20.64% and a return on equity of 28.94%. Lamar Advertising’s revenue was up 12.6% compared to the same quarter last year. During the same period last year, the business earned $0.61 EPS. On average, equities research analysts expect that Lamar Advertising Co. will post $3.05 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 16th were paid a dividend of $0.76 per share. This is a positive change from Lamar Advertising’s previous quarterly dividend of $0.75. This represents a $3.04 dividend on an annualized basis and a yield of 4.65%. The ex-dividend date was Wednesday, September 14th. Lamar Advertising’s dividend payout ratio (DPR) is currently 99.67%.
Several equities research analysts have weighed in on LAMR shares. Loop Capital assumed coverage on shares of Lamar Advertising in a research note on Monday, September 12th. They issued a “buy” rating for the company. Zacks Investment Research raised shares of Lamar Advertising from a “sell” rating to a “hold” rating in a research report on Monday, August 22nd. Finally, Gabelli downgraded shares of Lamar Advertising from a “buy” rating to a “hold” rating and set a $64.00 target price for the company. in a research report on Thursday, July 21st. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Lamar Advertising presently has a consensus rating of “Hold” and a consensus price target of $66.38.
About Lamar Advertising
Lamar Advertising Company is an outdoor advertising company in the United States. The Company operates in the advertising segment. The Company sells advertising on billboards, buses, shelters, benches and logo plates. It operates three types of outdoor advertising displays: billboards, logo signs and transit advertising displays.
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