Wells Fargo & Company MN Has $104.78 Million Stock Position in Lamar Advertising (NASDAQ:LAMR)

Wells Fargo & Company MN decreased its stake in shares of Lamar Advertising (NASDAQ:LAMR) by 3.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 985,902 shares of the real estate investment trust’s stock after selling 38,620 shares during the period. Wells Fargo & Company MN owned 0.97% of Lamar Advertising worth $104,782,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Boston Partners lifted its position in Lamar Advertising by 32.7% during the 4th quarter. Boston Partners now owns 2,953,214 shares of the real estate investment trust’s stock valued at $313,871,000 after purchasing an additional 727,207 shares during the period. Invesco Ltd. lifted its position in Lamar Advertising by 43.4% during the 3rd quarter. Invesco Ltd. now owns 1,693,447 shares of the real estate investment trust’s stock valued at $141,352,000 after purchasing an additional 512,182 shares during the period. Norges Bank acquired a new position in Lamar Advertising during the 4th quarter valued at about $38,406,000. Ranger Global Real Estate Advisors LLC lifted its position in Lamar Advertising by 129.2% during the 3rd quarter. Ranger Global Real Estate Advisors LLC now owns 477,140 shares of the real estate investment trust’s stock valued at $39,827,000 after purchasing an additional 268,934 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its position in Lamar Advertising by 146.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 390,876 shares of the real estate investment trust’s stock valued at $32,626,000 after purchasing an additional 232,135 shares during the period. Institutional investors and hedge funds own 93.78% of the company’s stock.

Insider Transactions at Lamar Advertising

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

Analyst Upgrades and Downgrades

LAMR has been the topic of a number of research reports. Morgan Stanley upped their target price on shares of Lamar Advertising from $105.00 to $110.00 and gave the company an “equal weight” rating in a research report on Monday, February 26th. JPMorgan Chase & Co. upped their price target on Lamar Advertising from $92.00 to $109.00 and gave the company a “neutral” rating in a research note on Monday, February 26th. Finally, StockNews.com cut Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Monday, May 6th.

Lamar Advertising Price Performance

NASDAQ LAMR opened at $118.68 on Friday. The business has a 50 day simple moving average of $116.27 and a 200 day simple moving average of $109.15. Lamar Advertising has a 52-week low of $77.21 and a 52-week high of $122.22. 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 stock has a market cap of $12.13 billion, a price-to-earnings ratio of 24.37 and a beta of 1.49.

Lamar Advertising (NASDAQ:LAMR) last posted its earnings results on Thursday, May 2nd. The real estate investment trust reported $0.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.47 by ($0.71). The business had revenue of $498.15 million for the quarter, compared to the consensus estimate of $496.98 million. Lamar Advertising had a return on equity of 41.86% and a net margin of 23.29%. Lamar Advertising’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.41 earnings per share. Analysts anticipate that Lamar Advertising will post 7.69 earnings per share for the current fiscal year.

Lamar Advertising Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Monday, June 17th will be paid a dividend of $1.30 per share. The ex-dividend date is Monday, June 17th. This represents a $5.20 annualized dividend and a dividend yield of 4.38%. Lamar Advertising’s dividend payout ratio is currently 106.78%.

Lamar Advertising 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.