Lamar Advertising Company $LAMR Shares Sold by Penobscot Investment Management Company Inc.

Penobscot Investment Management Company Inc. cut its stake in shares of Lamar Advertising Company (NASDAQ:LAMR) by 4.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,049 shares of the real estate investment trust’s stock after selling 150 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in Lamar Advertising were worth $370,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. QRG Capital Management Inc. lifted its holdings in shares of Lamar Advertising by 9.4% during the second quarter. QRG Capital Management Inc. now owns 21,698 shares of the real estate investment trust’s stock worth $2,633,000 after purchasing an additional 1,872 shares during the period. Segment Wealth Management LLC lifted its holdings in shares of Lamar Advertising by 23.7% during the second quarter. Segment Wealth Management LLC now owns 4,292 shares of the real estate investment trust’s stock worth $521,000 after purchasing an additional 822 shares during the period. Ameritas Advisory Services LLC acquired a new stake in shares of Lamar Advertising during the second quarter worth $28,000. Patriot Financial Group Insurance Agency LLC lifted its holdings in shares of Lamar Advertising by 8.7% during the second quarter. Patriot Financial Group Insurance Agency LLC now owns 8,552 shares of the real estate investment trust’s stock worth $1,038,000 after purchasing an additional 684 shares during the period. Finally, Woodward Diversified Capital LLC lifted its holdings in shares of Lamar Advertising by 75.3% during the second quarter. Woodward Diversified Capital LLC now owns 4,882 shares of the real estate investment trust’s stock worth $593,000 after purchasing an additional 2,097 shares during the period. 93.78% of the stock is owned by institutional investors and hedge funds.

Lamar Advertising Stock Up 1.0%

LAMR opened at $123.22 on Friday. The company has a debt-to-equity ratio of 3.45, a current ratio of 0.58 and a quick ratio of 0.58. The stock has a market capitalization of $12.47 billion, a price-to-earnings ratio of 28.66 and a beta of 1.37. The business has a 50-day moving average of $124.03 and a two-hundred day moving average of $119.61. Lamar Advertising Company has a 12 month low of $99.84 and a 12 month high of $139.88.

Lamar Advertising (NASDAQ:LAMR) last posted its quarterly earnings results on Friday, August 8th. The real estate investment trust reported $2.22 EPS for the quarter, beating the consensus estimate of $1.48 by $0.74. Lamar Advertising had a return on equity of 41.85% and a net margin of 19.72%.The company had revenue of $579.31 million during the quarter, compared to analysts’ expectations of $580.72 million. Lamar Advertising has set its FY 2025 guidance at 6.090-6.11 EPS. On average, research analysts expect that Lamar Advertising Company will post 7.92 earnings per share for the current year.

Lamar Advertising Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Friday, September 19th were issued a dividend of $1.55 per share. The ex-dividend date was Friday, September 19th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 5.0%. Lamar Advertising’s payout ratio is presently 144.19%.

Insider Activity

In other news, CFO Jay Lecoryelle Johnson sold 22,000 shares of the business’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $124.28, for a total transaction of $2,734,160.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 14.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Wells Fargo & Company decreased their price target on Lamar Advertising from $122.00 to $119.00 and set an “equal weight” rating for the company in a report on Monday, August 11th. Morgan Stanley increased their price objective on Lamar Advertising from $125.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Monday, August 4th. JPMorgan Chase & Co. cut their price objective on Lamar Advertising from $125.00 to $122.00 and set a “neutral” rating for the company in a research report on Monday, August 11th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Lamar Advertising in a research report on Saturday, September 27th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $134.20.

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.