Intech Investment Management LLC Increases Stock Position in Lamar Advertising Company $LAMR

Intech Investment Management LLC lifted its holdings in Lamar Advertising Company (NASDAQ:LAMR) by 3,390.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 105,556 shares of the real estate investment trust’s stock after purchasing an additional 102,532 shares during the period. Intech Investment Management LLC’s holdings in Lamar Advertising were worth $13,361,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Baker Avenue Asset Management LP lifted its position in shares of Lamar Advertising by 94.1% in the 4th quarter. Baker Avenue Asset Management LP now owns 3,811 shares of the real estate investment trust’s stock worth $482,000 after purchasing an additional 1,848 shares during the period. Geode Capital Management LLC lifted its position in shares of Lamar Advertising by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 2,382,137 shares of the real estate investment trust’s stock worth $301,573,000 after purchasing an additional 32,542 shares during the period. Knights of Columbus Asset Advisors LLC purchased a new stake in shares of Lamar Advertising in the 4th quarter worth approximately $1,872,000. Bleakley Financial Group LLC raised its stake in shares of Lamar Advertising by 22.9% during the 4th quarter. Bleakley Financial Group LLC now owns 17,145 shares of the real estate investment trust’s stock worth $2,170,000 after acquiring an additional 3,189 shares in the last quarter. Finally, Wellington Shields Capital Management LLC bought a new position in shares of Lamar Advertising during the 4th quarter worth approximately $184,000. Hedge funds and other institutional investors own 93.78% of the company’s stock.

Insider Transactions at Lamar Advertising

In related news, EVP Ross Lamar Reilly sold 5,969 shares of the stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $128.65, for a total transaction of $767,911.85. Following the sale, the executive vice president directly owned 15,850 shares of the company’s stock, valued at approximately $2,039,102.50. This represents a 27.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 15.24% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on LAMR shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Lamar Advertising in a research note on Friday, May 22nd. Morgan Stanley set a $145.00 price objective on shares of Lamar Advertising in a research note on Thursday, May 7th. Wells Fargo & Company boosted their price objective on shares of Lamar Advertising from $136.00 to $150.00 and gave the stock an “equal weight” rating in a research note on Friday, May 8th. UBS Group set a $150.00 price objective on shares of Lamar Advertising in a research note on Monday, February 23rd. Finally, TD Cowen boosted their price objective on shares of Lamar Advertising from $150.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, May 14th. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $148.00.

Lamar Advertising Stock Up 0.2%

NASDAQ:LAMR opened at $152.46 on Friday. The firm has a market capitalization of $15.47 billion, a P/E ratio of 28.13 and a beta of 1.18. Lamar Advertising Company has a 1-year low of $113.66 and a 1-year high of $158.69. The company’s fifty day moving average price is $138.07 and its 200-day moving average price is $133.29. The company has a debt-to-equity ratio of 3.33, a current ratio of 0.58 and a quick ratio of 0.58.

Lamar Advertising (NASDAQ:LAMR) last announced its quarterly earnings results on Thursday, May 7th. The real estate investment trust reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.18. Lamar Advertising had a net margin of 24.01% and a return on equity of 55.53%. The firm had revenue of $528.00 million for the quarter, compared to the consensus estimate of $522.86 million. As a group, equities research analysts anticipate that Lamar Advertising Company will post 8.24 EPS for the current year.

Lamar Advertising Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th will be issued a dividend of $1.60 per share. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $6.40 dividend on an annualized basis and a yield of 4.2%. Lamar Advertising’s dividend payout ratio is 118.08%.

About Lamar Advertising

Lamar Advertising Company (NASDAQ: LAMR) is one of North America’s largest outdoor advertising firms, specializing in out-of-home media solutions. Since its founding in 1902, the company has grown through a combination of organic expansion and strategic acquisitions to offer a broad portfolio of advertising products. Its core business centers on billboard advertising, encompassing traditional static billboards and a rapidly expanding network of digital displays. These assets enable advertisers to reach consumers with high-impact messaging along highways, in urban centers, and at high-traffic intersections.

In addition to highway billboards, Lamar offers a variety of supplemental out-of-home formats, including transit advertising on buses and shelters, and logo signage at travel plazas and gas stations.