Lamar Advertising Company $LAMR Stock: Kestra Advisory Services LLC Trims Stake

Kestra Advisory Services LLC decreased its holdings in Lamar Advertising Company (NASDAQ:LAMR) by 20.7% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 32,360 shares of the real estate investment trust’s stock after selling 8,426 shares during the quarter. Kestra Advisory Services LLC’s holdings in Lamar Advertising were worth $4,663,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Quantinno Capital Management LP grew its position in Lamar Advertising by 49.7% in the 1st quarter. Quantinno Capital Management LP now owns 677,202 shares of the real estate investment trust’s stock worth $85,774,000 after purchasing an additional 224,775 shares during the period. Diamond Hill Capital Management LLC Investment Advisor bought a new position in shares of Lamar Advertising in the 2nd quarter worth approximately $26,469,000. Public Employees Retirement System of Ohio bought a new position in shares of Lamar Advertising in the 2nd quarter worth approximately $20,052,000. Adelante Capital Management LLC bought a new stake in Lamar Advertising during the second quarter valued at approximately $19,122,000. Finally, Renaissance Technologies LLC purchased a new stake in Lamar Advertising during the first quarter valued at approximately $12,440,000. 93.78% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Wells Fargo & Company upped their price objective on Lamar Advertising from $156.00 to $158.00 and gave the stock an “equal weight” rating in a research note on Friday, November 6th. Weiss Ratings restated a “buy (b)” rating on shares of Lamar Advertising in a research note on Wednesday, August 19th. Cfra cut shares of Lamar Advertising from a “hold” rating to a “sell” rating and set a $145.00 price objective for the company. in a research note on Wednesday. Morgan Stanley set a $170.00 target price on shares of Lamar Advertising in a research note on Friday, August 7th. Finally, JPMorgan Chase & Co. boosted their price objective on Lamar Advertising from $160.00 to $161.00 and gave the company a “neutral” rating in a research report on Friday, November 6th. Two equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $159.14.

Insider Activity

In related news, Director Thomas Reifenheiser sold 8,099 shares of the company’s stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $149.03, for a total transaction of $1,206,993.97. Following the transaction, the director directly owned 36,387 shares in the company, valued at approximately $5,422,754.61. This represents a 18.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Jay Johnson sold 7,600 shares of the business’s stock in a transaction that occurred on Monday, November 9th. The shares were sold at an average price of $156.92, for a total value of $1,192,592.00. Additional details regarding this sale are available in the official SEC disclosure. 15.24% of the stock is currently owned by company insiders.

Lamar Advertising Stock Performance

Lamar Advertising stock opened at $159.65 on Friday. The company’s 50-day moving average price is $150.61 and its 200-day moving average price is $145.97. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 3.16. The company has a market cap of $16.21 billion, a PE ratio of 18.54 and a beta of 1.23. Lamar Advertising Company has a twelve month low of $122.31 and a twelve month high of $166.33.

Lamar Advertising Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Monday, September 21st were given a dividend of $1.65 per share. This represents a $6.60 dividend on an annualized basis and a yield of 4.1%. This is a positive change from Lamar Advertising’s previous quarterly dividend of $1.60. The ex-dividend date was Monday, September 21st. Lamar Advertising’s dividend payout ratio (DPR) is presently 116.40%.

Lamar Advertising Company Profile

Lamar Advertising Company is an out-of-home advertising company that provides businesses and organizations with ways to reach audiences beyond traditional media. Its offerings include billboard advertising, highway logo signs that direct travelers to nearby businesses and services, and transit advertising on vehicles and in transit-related locations. The company traces its origins to 1902 and is headquartered in Baton Rouge, Louisiana. It serves advertisers across the United States and Canada, with local operations supporting campaigns in markets throughout its service area.