Prudential Financial Inc. increased its position in shares of Lamar Advertising Co. (NASDAQ:LAMR) by 0.8% during the second quarter, Holdings Channel reports. The institutional investor owned 118,949 shares of the company’s stock after buying an additional 990 shares during the period. Prudential Financial Inc. owned about 0.12% of Lamar Advertising worth $7,886,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of the stock. KBC Group NV raised its stake in shares of Lamar Advertising by 168.5% in the second quarter. KBC Group NV now owns 275,783 shares of the company’s stock worth $18,284,000 after buying an additional 173,066 shares in the last quarter. Wedge Capital Management L L P NC raised its stake in shares of Lamar Advertising by 10.0% in the second quarter. Wedge Capital Management L L P NC now owns 1,646,767 shares of the company’s stock worth $109,181,000 after buying an additional 149,427 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. raised its stake in shares of Lamar Advertising by 38.7% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 464,029 shares of the company’s stock worth $30,765,000 after buying an additional 129,580 shares in the last quarter. Artemis Investment Management LLP raised its stake in shares of Lamar Advertising by 61.3% in the second quarter. Artemis Investment Management LLP now owns 318,656 shares of the company’s stock worth $21,131,000 after buying an additional 121,096 shares in the last quarter. Finally, Bank of Montreal Can bought a new stake in shares of Lamar Advertising during the second quarter worth about $6,808,000. 80.05% of the stock is owned by hedge funds and other institutional investors.
Shares of Lamar Advertising Co. (NASDAQ:LAMR) traded down 0.16% during trading on Friday, reaching $63.92. 567,579 shares of the company’s stock were exchanged. Lamar Advertising Co. has a 12-month low of $49.73 and a 12-month high of $69.35. The company has a market capitalization of $6.23 billion, a P/E ratio of 21.05 and a beta of 1.69. The stock has a 50-day moving average price of $63.17 and a 200 day moving average price of $63.72.
Lamar Advertising (NASDAQ:LAMR) last issued its earnings results on Tuesday, August 9th. The company reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.01. Lamar Advertising had a return on equity of 28.94% and a net margin of 20.64%. The business earned $387.50 million during the quarter, compared to the consensus estimate of $384.09 million. During the same period last year, the company earned $0.61 EPS. The company’s revenue for the quarter was up 12.6% on a year-over-year basis. Equities analysts expect that Lamar Advertising Co. will post $3.06 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 16th were paid a $0.76 dividend. 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 4.76%. Lamar Advertising’s dividend payout ratio (DPR) is 99.67%.
A number of analysts have recently issued reports on LAMR shares. Loop Capital started coverage on shares of Lamar Advertising in a research note on Monday, September 12th. They set a “buy” rating for the company. Zacks Investment Research raised shares of Lamar Advertising from a “sell” rating to a “hold” rating in a research note on Monday, August 22nd. Finally, Gabelli lowered shares of Lamar Advertising from a “buy” rating to a “hold” rating and set a $64.00 price objective for the company. in a research note 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 target price 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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