Connecticut Wealth Management LLC Sells 357 Shares of Lamar Advertising (NASDAQ:LAMR)

Connecticut Wealth Management LLC lowered its position in Lamar Advertising (NASDAQ:LAMR) by 9.3% in the 4th quarter, Holdings Channel reports. The fund owned 3,480 shares of the real estate investment trust’s stock after selling 357 shares during the quarter. Connecticut Wealth Management LLC’s holdings in Lamar Advertising were worth $370,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in LAMR. Levin Capital Strategies L.P. bought a new stake in shares of Lamar Advertising in the 4th quarter worth approximately $241,000. Natixis Advisors L.P. increased its holdings in shares of Lamar Advertising by 22.8% during the fourth quarter. Natixis Advisors L.P. now owns 46,558 shares of the real estate investment trust’s stock valued at $4,948,000 after acquiring an additional 8,635 shares in the last quarter. Great Valley Advisor Group Inc. bought a new position in Lamar Advertising in the 4th quarter worth about $306,000. RB Capital Management LLC purchased a new stake in Lamar Advertising during the 4th quarter valued at about $205,000. Finally, Essex Financial Services Inc. lifted its stake in shares of Lamar Advertising by 8.5% in the fourth quarter. Essex Financial Services Inc. now owns 7,199 shares of the real estate investment trust’s stock worth $765,000 after buying an additional 563 shares in the last quarter. Hedge funds and other institutional investors own 93.78% of the company’s stock.

Insider Buying and Selling at Lamar Advertising

In other news, CFO Jay Lecoryelle Johnson sold 5,000 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $118.97, for a total transaction of $594,850.00. Following the transaction, the chief financial officer now directly owns 10,000 shares in the company, valued at $1,189,700. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 14.98% of the company’s stock.

Lamar Advertising Stock Performance

NASDAQ LAMR traded up $1.60 during trading hours on Monday, hitting $116.68. 196,397 shares of the company’s stock traded hands, compared to its average volume of 416,640. Lamar Advertising has a 52 week low of $77.21 and a 52 week high of $121.99. The business’s fifty day moving average price is $114.99 and its two-hundred day moving average price is $105.99. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 2.39. The firm has a market capitalization of $11.91 billion, a P/E ratio of 23.63 and a beta of 1.49.

Lamar Advertising (NASDAQ:LAMR) last announced its earnings results on Thursday, May 2nd. The real estate investment trust reported $0.76 EPS for the quarter, missing analysts’ consensus estimates of $1.47 by ($0.71). The company had revenue of $498.15 million during the quarter, compared to the consensus estimate of $496.98 million. Lamar Advertising had a return on equity of 41.86% and a net margin of 23.29%. Lamar Advertising’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.41 earnings per share. Equities research analysts predict that Lamar Advertising will post 7.92 EPS for the current year.

Lamar Advertising Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 4.46%. This is a boost from Lamar Advertising’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend was Thursday, March 14th. Lamar Advertising’s dividend payout ratio is currently 106.78%.

Analyst Ratings Changes

Several brokerages have commented on LAMR. StockNews.com upgraded Lamar Advertising from a “hold” rating to a “buy” rating in a research note on Tuesday, March 5th. JPMorgan Chase & Co. upped their target price on shares of Lamar Advertising from $92.00 to $109.00 and gave the company a “neutral” rating in a research note on Monday, February 26th. Finally, Morgan Stanley lifted their price target on shares of Lamar Advertising from $105.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Monday, February 26th.

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.