Principal Financial Group Inc. Sells 8,094 Shares of Lamar Advertising Company $LAMR

Principal Financial Group Inc. trimmed its position in shares of Lamar Advertising Company (NASDAQ:LAMR) by 4.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 192,183 shares of the real estate investment trust’s stock after selling 8,094 shares during the period. Principal Financial Group Inc. owned 0.19% of Lamar Advertising worth $23,527,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. True Wealth Design LLC raised its holdings in shares of Lamar Advertising by 466.7% in the 2nd quarter. True Wealth Design LLC now owns 204 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 168 shares during the period. Quent Capital LLC acquired a new position in Lamar Advertising during the third quarter worth approximately $26,000. Alpine Bank Wealth Management bought a new stake in Lamar Advertising in the third quarter valued at approximately $27,000. Ameritas Advisory Services LLC bought a new stake in Lamar Advertising in the second quarter valued at approximately $28,000. Finally, Loomis Sayles & Co. L P acquired a new stake in shares of Lamar Advertising in the second quarter valued at approximately $34,000. Institutional investors and hedge funds own 93.78% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on LAMR shares. JPMorgan Chase & Co. boosted their target price on Lamar Advertising from $122.00 to $128.00 and gave the stock a “neutral” rating in a report on Wednesday, November 12th. Morgan Stanley set a $140.00 price objective on shares of Lamar Advertising in a report on Tuesday, December 16th. Citigroup increased their price objective on shares of Lamar Advertising from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Thursday, November 13th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Lamar Advertising in a research note on Monday, December 29th. One research analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $133.00.

Lamar Advertising Price Performance

Shares of NASDAQ LAMR opened at $133.23 on Friday. The business has a fifty day moving average price of $128.96 and a two-hundred day moving average price of $125.61. The stock has a market capitalization of $13.49 billion, a PE ratio of 31.27 and a beta of 1.23. The company has a debt-to-equity ratio of 3.04, a current ratio of 0.59 and a quick ratio of 0.59. Lamar Advertising Company has a fifty-two week low of $99.84 and a fifty-two week high of $134.63.

Lamar Advertising (NASDAQ:LAMR) last released its earnings results on Thursday, November 6th. The real estate investment trust reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.14 by $0.06. Lamar Advertising had a return on equity of 43.02% and a net margin of 19.27%.The company had revenue of $585.54 million for the quarter, compared to analyst estimates of $584.00 million. As a group, equities analysts predict that Lamar Advertising Company will post 7.92 earnings per share for the current fiscal year.

Lamar Advertising Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 22nd were paid a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date of this dividend was Monday, December 22nd. Lamar Advertising’s dividend payout ratio (DPR) is 145.54%.

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.