ABN Amro Investment Solutions Buys New Shares in Lamar Advertising Company $LAMR

ABN Amro Investment Solutions purchased a new position in Lamar Advertising Company (NASDAQ:LAMR) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 48,990 shares of the real estate investment trust’s stock, valued at approximately $5,945,000.

Several other institutional investors have also recently made changes to their positions in LAMR. Focus Partners Wealth lifted its stake in shares of Lamar Advertising by 14.6% in the 1st quarter. Focus Partners Wealth now owns 21,739 shares of the real estate investment trust’s stock valued at $2,473,000 after purchasing an additional 2,768 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in Lamar Advertising by 0.8% in the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 97,106 shares of the real estate investment trust’s stock worth $11,785,000 after buying an additional 733 shares during the last quarter. Millennium Management LLC boosted its stake in Lamar Advertising by 158.6% during the first quarter. Millennium Management LLC now owns 306,887 shares of the real estate investment trust’s stock worth $34,918,000 after buying an additional 188,213 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Lamar Advertising by 5.1% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 19,357 shares of the real estate investment trust’s stock worth $2,349,000 after acquiring an additional 944 shares during the last quarter. Finally, Meixler Investment Management Ltd. lifted its holdings in shares of Lamar Advertising by 47.0% in the 2nd quarter. Meixler Investment Management Ltd. now owns 9,650 shares of the real estate investment trust’s stock worth $1,171,000 after acquiring an additional 3,086 shares during the last quarter. Institutional investors own 93.78% of the company’s stock.

Lamar Advertising Stock Down 0.4%

Shares of Lamar Advertising stock opened at $127.56 on Friday. The firm’s 50 day moving average price is $122.48 and its 200-day moving average price is $121.68. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 3.45. Lamar Advertising Company has a 52-week low of $99.84 and a 52-week high of $135.91. The company has a market cap of $12.91 billion, a P/E ratio of 29.67 and a beta of 1.36.

Lamar Advertising (NASDAQ:LAMR) last posted its earnings results on Thursday, November 6th. The real estate investment trust reported $2.20 EPS for the quarter, beating analysts’ consensus estimates of $2.14 by $0.06. Lamar Advertising had a net margin of 19.72% and a return on equity of 41.85%. The company had revenue of $585.54 million during the quarter, compared to analysts’ expectations of $584.00 million. On average, sell-side analysts predict that Lamar Advertising Company will post 7.92 EPS for the current fiscal year.

Lamar Advertising Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Friday, September 19th were given a $1.55 dividend. The ex-dividend date of this dividend was Friday, September 19th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 4.9%. Lamar Advertising’s dividend payout ratio (DPR) is presently 145.54%.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Weiss Ratings lowered Lamar Advertising from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, November 7th. Wells Fargo & Company cut their price target on shares of Lamar Advertising from $122.00 to $119.00 and set an “equal weight” rating on the stock in a report on Monday, August 11th. Citigroup lifted their price objective on shares of Lamar Advertising from $135.00 to $145.00 and gave the company a “buy” rating in a report on Thursday. Morgan Stanley boosted their price objective on shares of Lamar Advertising from $125.00 to $135.00 and gave the company an “equal weight” rating in a research report on Monday, August 4th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Lamar Advertising from $122.00 to $128.00 and gave the company a “neutral” rating in a research note on Wednesday. One investment analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Lamar Advertising currently has a consensus rating of “Hold” and an average target price of $131.75.

Insiders Place Their Bets

In related news, CFO Jay Lecoryelle Johnson sold 22,000 shares of the company’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 document filed with the SEC, which can be accessed through this link. 14.99% of the stock is currently owned by company insiders.

Lamar Advertising Company 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.