Vanguard Group Inc. increased its stake in Lamar Advertising Co. (NASDAQ:LAMR) by 2.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,047,979 shares of the company’s stock after buying an additional 168,366 shares during the period. Vanguard Group Inc. owned approximately 7.26% of Lamar Advertising worth $467,280,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of the company. Principal Financial Group Inc. raised its position in shares of Lamar Advertising by 10.1% in the second quarter. Principal Financial Group Inc. now owns 487,789 shares of the company’s stock valued at $32,341,000 after buying an additional 44,556 shares in the last quarter. Prudential Financial Inc. raised its position in shares of Lamar Advertising by 0.8% in the second quarter. Prudential Financial Inc. now owns 118,949 shares of the company’s stock valued at $7,886,000 after buying an additional 990 shares in the last quarter. Hancock Holding Co. raised its position in shares of Lamar Advertising by 1.0% in the second quarter. Hancock Holding Co. now owns 170,665 shares of the company’s stock valued at $11,315,000 after buying an additional 1,660 shares in the last quarter. BTIM Corp. bought a new position in shares of Lamar Advertising during the second quarter valued at approximately $5,077,000. Finally, Teacher Retirement System of Texas raised its position in shares of Lamar Advertising by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 11,445 shares of the company’s stock valued at $759,000 after buying an additional 1,389 shares in the last quarter. Hedge funds and other institutional investors own 80.05% of the company’s stock.
Shares of Lamar Advertising Co. (NASDAQ:LAMR) traded down 1.12% during midday trading on Tuesday, hitting $65.08. 24,685 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $62.88 and its 200-day moving average is $63.64. The stock has a market cap of $6.34 billion, a PE ratio of 21.43 and a beta of 1.69. Lamar Advertising Co. has a 1-year low of $49.73 and a 1-year high of $69.35.
Lamar Advertising (NASDAQ:LAMR) last issued its quarterly earnings results on Tuesday, August 9th. The company reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.01. The business earned $387.50 million during the quarter, compared to the consensus estimate of $384.09 million. Lamar Advertising had a net margin of 20.64% and a return on equity of 28.94%. The company’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.61 earnings per share. Analysts predict that Lamar Advertising Co. will post $3.05 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Friday, September 16th were issued a dividend of $0.76 per share. The ex-dividend date of this dividend was Wednesday, September 14th. This is an increase from Lamar Advertising’s previous quarterly dividend of $0.75. This represents a $3.04 dividend on an annualized basis and a dividend yield of 4.62%. Lamar Advertising’s payout ratio is 99.67%.
Several equities analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Lamar Advertising from a “sell” rating to a “hold” rating in a report on Monday, September 19th. Loop Capital assumed coverage on shares of Lamar Advertising in a report on Monday, September 12th. They issued a “buy” rating on the stock. Finally, Gabelli lowered shares of Lamar Advertising from a “buy” rating to a “hold” rating and set a $64.00 price objective on the stock. in a report on Thursday, July 21st. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $66.38.
Lamar Advertising Company Profile
Lamar Advertising Company is an outdoor advertising company in the United States. The Company operates in the advertising segment. The Company sells advertising on billboards, buses, shelters, benches and logo plates. It operates three types of outdoor advertising displays: billboards, logo signs and transit advertising displays.
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