Voya Investment Management LLC Increases Stock Holdings in Lamar Advertising Company $LAMR

Voya Investment Management LLC boosted its stake in shares of Lamar Advertising Company (NASDAQ:LAMR) by 8.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 76,219 shares of the real estate investment trust’s stock after buying an additional 5,903 shares during the quarter. Voya Investment Management LLC owned 0.07% of Lamar Advertising worth $8,672,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. 1248 Management LLC acquired a new stake in Lamar Advertising in the first quarter valued at approximately $34,000. Osterweis Capital Management Inc. grew its position in shares of Lamar Advertising by 1.8% during the first quarter. Osterweis Capital Management Inc. now owns 204,677 shares of the real estate investment trust’s stock worth $23,288,000 after acquiring an additional 3,623 shares during the last quarter. Invst LLC grew its position in Lamar Advertising by 6.3% in the 1st quarter. Invst LLC now owns 6,474 shares of the real estate investment trust’s stock valued at $737,000 after buying an additional 383 shares during the last quarter. SWS Partners lifted its holdings in Lamar Advertising by 0.6% in the first quarter. SWS Partners now owns 15,347 shares of the real estate investment trust’s stock valued at $1,746,000 after acquiring an additional 85 shares during the period. Finally, Acadian Asset Management LLC lifted its holdings in Lamar Advertising by 525.1% in the first quarter. Acadian Asset Management LLC now owns 71,910 shares of the real estate investment trust’s stock valued at $8,180,000 after acquiring an additional 60,406 shares during the period. Institutional investors and hedge funds own 93.78% of the company’s stock.

Lamar Advertising Price Performance

Shares of NASDAQ LAMR opened at $126.36 on Wednesday. Lamar Advertising Company has a 1-year low of $99.84 and a 1-year high of $139.88. The company has a debt-to-equity ratio of 3.45, a current ratio of 0.58 and a quick ratio of 0.58. The business’s fifty day moving average price is $124.55 and its two-hundred day moving average price is $119.17. The firm has a market capitalization of $12.79 billion, a PE ratio of 29.39 and a beta of 1.38.

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

Lamar Advertising Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 19th will be issued a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date of this dividend is Friday, September 19th. Lamar Advertising’s dividend payout ratio (DPR) is 144.19%.

Insider Activity at Lamar Advertising

In related news, CFO Jay Lecoryelle Johnson sold 22,000 shares of the firm’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $124.28, for a total transaction of $2,734,160.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 14.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Wells Fargo & Company cut their price target on Lamar Advertising from $122.00 to $119.00 and set an “equal weight” rating for the company in a research note on Monday, August 11th. Citigroup raised shares of Lamar Advertising from a “neutral” rating to a “buy” rating and upped their price objective for the company from $114.00 to $135.00 in a research note on Thursday, May 29th. Morgan Stanley boosted their target price on Lamar Advertising from $125.00 to $135.00 and gave the stock an “equal weight” rating in a report on Monday, August 4th. Finally, JPMorgan Chase & Co. decreased their price target on Lamar Advertising from $125.00 to $122.00 and set a “neutral” rating for the company in a report on Monday, August 11th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $134.20.

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.