Ellsworth Advisors LLC Increases Stock Position in Lamar Advertising (NASDAQ:LAMR)

Ellsworth Advisors LLC grew its holdings in Lamar Advertising (NASDAQ:LAMR) by 8.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,744 shares of the real estate investment trust’s stock after purchasing an additional 788 shares during the period. Ellsworth Advisors LLC’s holdings in Lamar Advertising were worth $1,036,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of LAMR. American Century Companies Inc. lifted its holdings in shares of Lamar Advertising by 106.4% during the first quarter. American Century Companies Inc. now owns 17,290 shares of the real estate investment trust’s stock valued at $2,009,000 after purchasing an additional 8,912 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its position in Lamar Advertising by 25.7% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 5,607 shares of the real estate investment trust’s stock worth $651,000 after buying an additional 1,146 shares during the last quarter. Citigroup Inc. lifted its stake in Lamar Advertising by 23.6% during the 1st quarter. Citigroup Inc. now owns 42,320 shares of the real estate investment trust’s stock valued at $4,916,000 after acquiring an additional 8,070 shares during the period. Great West Life Assurance Co. Can lifted its stake in Lamar Advertising by 10.9% during the 1st quarter. Great West Life Assurance Co. Can now owns 51,280 shares of the real estate investment trust’s stock valued at $6,130,000 after acquiring an additional 5,052 shares during the period. Finally, Cibc World Market Inc. boosted its holdings in shares of Lamar Advertising by 11.4% during the 1st quarter. Cibc World Market Inc. now owns 2,006 shares of the real estate investment trust’s stock valued at $233,000 after acquiring an additional 206 shares during the last quarter. Institutional investors own 93.78% of the company’s stock.

Lamar Advertising Stock Performance

Shares of LAMR stock traded up $0.68 during trading hours on Friday, reaching $119.41. The company had a trading volume of 339,532 shares, compared to its average volume of 502,966. The business has a fifty day moving average price of $110.94 and a 200-day moving average price of $100.05. Lamar Advertising has a one year low of $77.21 and a one year high of $121.99. The firm has a market cap of $12.19 billion, a PE ratio of 24.62 and a beta of 1.50. The company has a debt-to-equity ratio of 2.55, a quick ratio of 0.52 and a current ratio of 0.52.

Lamar Advertising (NASDAQ:LAMR) last posted its quarterly earnings data on Friday, February 23rd. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.95 by ($0.49). The business had revenue of $555.91 million during the quarter, compared to analysts’ expectations of $549.84 million. Lamar Advertising had a return on equity of 41.88% and a net margin of 23.49%. During the same period in the previous year, the business posted $1.91 EPS. Sell-side analysts predict that Lamar Advertising will post 7.54 earnings per share for the current fiscal year.

Lamar Advertising Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were issued a $1.30 dividend. This is an increase from Lamar Advertising’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.35%. Lamar Advertising’s dividend payout ratio (DPR) is presently 107.22%.

Insider Buying and Selling at Lamar Advertising

In other Lamar Advertising news, CFO Jay Lecoryelle Johnson sold 5,000 shares of Lamar Advertising 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 owns 10,000 shares of the company’s stock, valued at $1,189,700. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 14.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on LAMR. JPMorgan Chase & Co. lifted their price target on shares of Lamar Advertising from $92.00 to $109.00 and gave the stock a “neutral” rating in a research note on Monday, February 26th. StockNews.com upgraded shares of Lamar Advertising from a “hold” rating to a “buy” rating in a research note on Tuesday, March 5th. 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.

Lamar Advertising Profile

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.