Envestnet Asset Management Inc. Buys 24,830 Shares of Lamar Advertising (NASDAQ:LAMR)

Envestnet Asset Management Inc. lifted its stake in shares of Lamar Advertising (NASDAQ:LAMR) by 6.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 431,725 shares of the real estate investment trust’s stock after acquiring an additional 24,830 shares during the period. Envestnet Asset Management Inc. owned 0.42% of Lamar Advertising worth $52,558,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Steward Partners Investment Advisory LLC raised its holdings in shares of Lamar Advertising by 2.4% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 9,101 shares of the real estate investment trust’s stock valued at $1,108,000 after purchasing an additional 215 shares during the period. JPMorgan Chase & Co. raised its stake in Lamar Advertising by 6.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,497,702 shares of the real estate investment trust’s stock worth $200,093,000 after buying an additional 90,933 shares during the period. Nomura Asset Management Co. Ltd. boosted its holdings in Lamar Advertising by 19,961.8% in the third quarter. Nomura Asset Management Co. Ltd. now owns 110,340 shares of the real estate investment trust’s stock worth $14,741,000 after acquiring an additional 109,790 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of Lamar Advertising by 39.8% in the 3rd quarter. Franklin Resources Inc. now owns 51,503 shares of the real estate investment trust’s stock worth $7,017,000 after purchasing an additional 14,672 shares in the last quarter. Finally, Jones Financial Companies Lllp increased its position in shares of Lamar Advertising by 6.3% during the fourth quarter. Jones Financial Companies Lllp now owns 4,911 shares of the real estate investment trust’s stock worth $598,000 after acquiring an additional 292 shares in the last quarter. 93.78% of the stock is owned by institutional investors.

Lamar Advertising Trading Down 3.5 %

Shares of Lamar Advertising stock opened at $109.68 on Friday. The stock has a fifty day moving average price of $118.63 and a 200-day moving average price of $125.33. The company has a debt-to-equity ratio of 2.48, a current ratio of 0.56 and a quick ratio of 0.56. The firm has a market cap of $11.23 billion, a PE ratio of 31.07 and a beta of 1.34. Lamar Advertising has a 1 year low of $99.84 and a 1 year high of $139.88.

Lamar Advertising (NASDAQ:LAMR) last released its earnings results on Thursday, February 20th. The real estate investment trust reported $2.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.47 by $0.74. The business had revenue of $579.57 million during the quarter, compared to the consensus estimate of $583.19 million. Lamar Advertising had a return on equity of 30.20% and a net margin of 16.40%. Equities research analysts anticipate that Lamar Advertising will post 7.92 EPS for the current year.

Lamar Advertising Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were issued a $1.55 dividend. The ex-dividend date of this dividend was Friday, March 14th. This is an increase from Lamar Advertising’s previous quarterly dividend of $1.40. This represents a $6.20 annualized dividend and a yield of 5.65%. Lamar Advertising’s dividend payout ratio (DPR) is 175.64%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Citigroup raised their target price on Lamar Advertising from $121.76 to $128.00 and gave the company a “neutral” rating in a report on Tuesday, February 25th. JPMorgan Chase & Co. reduced their target price on shares of Lamar Advertising from $129.00 to $126.00 and set a “neutral” rating for the company in a research note on Friday, February 21st. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $134.60.

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.