JPL Wealth Management LLC Purchases New Position in Lamar Advertising (NASDAQ:LAMR)

JPL Wealth Management LLC purchased a new stake in Lamar Advertising (NASDAQ:LAMR) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 18,603 shares of the real estate investment trust’s stock, valued at approximately $1,977,000. Lamar Advertising makes up about 1.4% of JPL Wealth Management LLC’s portfolio, making the stock its 21st biggest holding.

Several other hedge funds have also recently modified their holdings of LAMR. Allspring Global Investments Holdings LLC lifted its position in shares of Lamar Advertising by 31.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 9,396 shares of the real estate investment trust’s stock worth $784,000 after buying an additional 2,236 shares in the last quarter. Coldstream Capital Management Inc. raised its holdings in shares of Lamar Advertising by 7.2% in the 3rd quarter. Coldstream Capital Management Inc. now owns 3,234 shares of the real estate investment trust’s stock worth $270,000 after purchasing an additional 218 shares during the period. Private Advisor Group LLC raised its holdings in shares of Lamar Advertising by 3.5% in the 3rd quarter. Private Advisor Group LLC now owns 11,796 shares of the real estate investment trust’s stock worth $985,000 after purchasing an additional 398 shares during the period. MGO One Seven LLC raised its holdings in shares of Lamar Advertising by 69.3% in the 3rd quarter. MGO One Seven LLC now owns 5,285 shares of the real estate investment trust’s stock worth $441,000 after purchasing an additional 2,163 shares during the period. Finally, Signaturefd LLC raised its holdings in shares of Lamar Advertising by 43.7% in the 3rd quarter. Signaturefd LLC now owns 493 shares of the real estate investment trust’s stock worth $41,000 after purchasing an additional 150 shares during the period. Institutional investors own 93.78% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. JPMorgan Chase & Co. lifted their price target on shares of Lamar Advertising from $92.00 to $109.00 and gave the stock a “neutral” rating in a report on Monday, February 26th. Morgan Stanley lifted their price target on shares of Lamar Advertising from $105.00 to $110.00 and gave the stock an “equal weight” rating in a report on Monday, February 26th. Finally, StockNews.com lowered shares of Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Monday, May 6th.

Lamar Advertising Stock Performance

Lamar Advertising stock traded down $1.14 during mid-day trading on Wednesday, reaching $119.60. The company’s stock had a trading volume of 155,772 shares, compared to its average volume of 407,867. Lamar Advertising has a 12-month low of $77.21 and a 12-month high of $122.22. The company has a market capitalization of $12.23 billion, a P/E ratio of 24.79 and a beta of 1.49. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.38 and a current ratio of 0.38. The firm’s fifty day moving average price is $116.19 and its two-hundred day moving average price is $109.01.

Lamar Advertising (NASDAQ:LAMR) last released its quarterly earnings data on Thursday, May 2nd. The real estate investment trust reported $0.76 earnings per share for the quarter, missing analysts’ consensus estimates of $1.47 by ($0.71). The business had revenue of $498.15 million during the quarter, compared to analysts’ expectations of $496.98 million. Lamar Advertising had a net margin of 23.29% and a return on equity of 41.86%. The firm’s quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.41 earnings per share. Sell-side analysts predict that Lamar Advertising will post 7.69 EPS for the current fiscal year.

Lamar Advertising Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Monday, June 17th will be given a dividend of $1.30 per share. The ex-dividend date of this dividend is Monday, June 17th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.35%. Lamar Advertising’s dividend payout ratio (DPR) is currently 106.78%.

Insider Activity

In other news, Director John E. Koerner III sold 17,000 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $120.05, for a total transaction of $2,040,850.00. Following the completion of the transaction, the director now directly owns 32,178 shares in the company, valued at approximately $3,862,968.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director John E. Koerner III sold 17,000 shares of the company’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $120.05, for a total value of $2,040,850.00. Following the completion of the transaction, the director now directly owns 32,178 shares in the company, valued at $3,862,968.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Jay Lecoryelle Johnson sold 5,000 shares of the business’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $118.97, for a total transaction of $594,850.00. Following the completion of the sale, the chief financial officer now directly owns 10,000 shares of the company’s stock, valued at $1,189,700. The disclosure for this sale can be found here. Company insiders own 14.98% of the company’s stock.

About Lamar Advertising

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.