Intech Investment Management LLC Sells 38,625 Shares of Lamar Advertising Company $LAMR

Intech Investment Management LLC cut its stake in Lamar Advertising Company (NASDAQ:LAMR) by 67.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,767 shares of the real estate investment trust’s stock after selling 38,625 shares during the period. Intech Investment Management LLC’s holdings in Lamar Advertising were worth $2,135,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in LAMR. Bessemer Group Inc. raised its holdings in shares of Lamar Advertising by 33.9% during the 1st quarter. Bessemer Group Inc. now owns 371 shares of the real estate investment trust’s stock worth $42,000 after buying an additional 94 shares in the last quarter. Golden State Wealth Management LLC bought a new stake in shares of Lamar Advertising in the 1st quarter valued at about $28,000. Farther Finance Advisors LLC grew its position in shares of Lamar Advertising by 101.2% in the 1st quarter. Farther Finance Advisors LLC now owns 2,446 shares of the real estate investment trust’s stock valued at $277,000 after buying an additional 1,230 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Lamar Advertising during the 1st quarter valued at about $1,007,000. Finally, Fifth Third Bancorp boosted its position in shares of Lamar Advertising by 9.3% during the 1st quarter. Fifth Third Bancorp now owns 5,584 shares of the real estate investment trust’s stock valued at $635,000 after purchasing an additional 475 shares in the last quarter. 93.78% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

LAMR has been the topic of a number of research reports. Citigroup raised Lamar Advertising from a “neutral” rating to a “buy” rating and upped their price target for the stock from $114.00 to $135.00 in a research note on Thursday, May 29th. Morgan Stanley increased their price target on Lamar Advertising from $125.00 to $135.00 and gave the company an “equal weight” rating in a research report on Monday, August 4th. JPMorgan Chase & Co. reduced their price objective on Lamar Advertising from $125.00 to $122.00 and set a “neutral” rating for the company in a report on Monday, August 11th. Finally, Wells Fargo & Company reduced their price objective on Lamar Advertising from $122.00 to $119.00 and set an “equal weight” rating for the company in a report on Monday, August 11th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Lamar Advertising presently has an average rating of “Hold” and a consensus target price of $134.20.

Lamar Advertising Stock Performance

Shares of LAMR opened at $127.74 on Tuesday. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 3.45. The business’s 50 day moving average price is $124.49 and its 200-day moving average price is $119.12. Lamar Advertising Company has a 52 week low of $99.84 and a 52 week high of $139.88. The stock has a market cap of $12.93 billion, a P/E ratio of 29.71 and a beta of 1.38.

Lamar Advertising (NASDAQ:LAMR) last announced its quarterly earnings data on Friday, August 8th. The real estate investment trust reported $2.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.48 by $0.74. Lamar Advertising had a net margin of 19.72% and a return on equity of 41.85%. The company had revenue of $579.31 million during the quarter, compared to analyst estimates of $580.72 million. Lamar Advertising has set its FY 2025 guidance at 6.090-6.11 EPS. Equities research analysts anticipate that Lamar Advertising Company will post 7.92 earnings per share for the current fiscal year.

Lamar Advertising Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 19th will be issued a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date is Friday, September 19th. Lamar Advertising’s payout ratio is presently 144.19%.

Insiders Place Their Bets

In related news, CFO Jay Lecoryelle Johnson sold 22,000 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $124.28, for a total value of $2,734,160.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 14.99% 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.