Mackenzie Financial Corp Makes New $13.57 Million Investment in Lamar Advertising (NASDAQ:LAMR)

Mackenzie Financial Corp purchased a new position in Lamar Advertising (NASDAQ:LAMR) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 127,717 shares of the real estate investment trust’s stock, valued at approximately $13,574,000.

Several other hedge funds and other institutional investors have also modified their holdings of LAMR. American Century Companies Inc. boosted its stake in Lamar Advertising by 106.4% in the first quarter. American Century Companies Inc. now owns 17,290 shares of the real estate investment trust’s stock valued at $2,009,000 after acquiring an additional 8,912 shares during the period. Cambridge Investment Research Advisors Inc. boosted its position in Lamar Advertising by 25.7% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 5,607 shares of the real estate investment trust’s stock valued at $651,000 after purchasing an additional 1,146 shares during the period. Citigroup Inc. grew its stake in Lamar Advertising by 23.6% during the 1st quarter. Citigroup Inc. now owns 42,320 shares of the real estate investment trust’s stock worth $4,916,000 after buying an additional 8,070 shares during the last quarter. Great West Life Assurance Co. Can increased its position in Lamar Advertising by 10.9% in the first quarter. Great West Life Assurance Co. Can now owns 51,280 shares of the real estate investment trust’s stock worth $6,130,000 after buying an additional 5,052 shares during the period. Finally, Cibc World Market Inc. lifted its stake in Lamar Advertising by 11.4% in the first quarter. Cibc World Market Inc. now owns 2,006 shares of the real estate investment trust’s stock valued at $233,000 after buying an additional 206 shares during the last quarter. 93.78% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently commented on LAMR. Morgan Stanley upped their price target on shares of Lamar Advertising from $105.00 to $110.00 and gave the stock an “equal weight” rating in a research report on Monday, February 26th. StockNews.com upgraded shares of Lamar Advertising from a “hold” rating to a “buy” rating in a research note on Tuesday, March 5th. Finally, JPMorgan Chase & Co. boosted their price objective on Lamar Advertising from $92.00 to $109.00 and gave the stock a “neutral” rating in a research report on Monday, February 26th.

Lamar Advertising Price Performance

Shares of LAMR opened at $110.72 on Friday. Lamar Advertising has a one year low of $77.21 and a one year high of $121.99. The stock’s fifty day moving average is $113.41 and its 200-day moving average is $103.09. The company has a debt-to-equity ratio of 2.55, a quick ratio of 0.52 and a current ratio of 0.52. The firm has a market capitalization of $11.30 billion, a price-to-earnings ratio of 22.83 and a beta of 1.50.

Lamar Advertising (NASDAQ:LAMR) last released its earnings results on Friday, February 23rd. The real estate investment trust reported $1.46 EPS for the quarter, missing the consensus estimate of $1.95 by ($0.49). The company had revenue of $555.91 million for the quarter, compared to analyst estimates of $549.84 million. Lamar Advertising had a net margin of 23.49% and a return on equity of 41.88%. During the same period in the previous year, the business posted $1.91 EPS. Equities analysts anticipate that Lamar Advertising will post 7.54 EPS for the current year.

Lamar Advertising Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 4.70%. This is an increase from Lamar Advertising’s previous quarterly dividend of $1.25. The ex-dividend date was Thursday, March 14th. Lamar Advertising’s dividend payout ratio is 107.22%.

Insiders Place Their Bets

In other news, CFO Jay Lecoryelle Johnson sold 5,000 shares of Lamar Advertising 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 transaction, the chief financial officer now directly owns 10,000 shares in the company, valued at approximately $1,189,700. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 14.98% of the stock is currently owned by insiders.

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.