Savant Capital LLC Purchases 13,652 Shares of Lamar Advertising Company $LAMR

Savant Capital LLC lifted its position in shares of Lamar Advertising Company (NASDAQ:LAMR) by 100.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 27,240 shares of the real estate investment trust’s stock after purchasing an additional 13,652 shares during the period. Savant Capital LLC’s holdings in Lamar Advertising were worth $3,306,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Envestnet Asset Management Inc. grew its holdings in Lamar Advertising by 5.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 454,396 shares of the real estate investment trust’s stock valued at $51,701,000 after buying an additional 22,671 shares in the last quarter. Cerity Partners LLC boosted its position in shares of Lamar Advertising by 59.2% in the first quarter. Cerity Partners LLC now owns 26,743 shares of the real estate investment trust’s stock valued at $3,043,000 after acquiring an additional 9,948 shares during the period. State of Michigan Retirement System grew its stake in shares of Lamar Advertising by 1.0% in the first quarter. State of Michigan Retirement System now owns 21,038 shares of the real estate investment trust’s stock valued at $2,394,000 after acquiring an additional 200 shares in the last quarter. New York State Common Retirement Fund grew its stake in shares of Lamar Advertising by 4.1% in the first quarter. New York State Common Retirement Fund now owns 51,155 shares of the real estate investment trust’s stock valued at $5,820,000 after acquiring an additional 2,000 shares in the last quarter. Finally, Louisiana State Employees Retirement System increased its position in Lamar Advertising by 0.8% during the first quarter. Louisiana State Employees Retirement System now owns 24,600 shares of the real estate investment trust’s stock worth $2,799,000 after acquiring an additional 200 shares during the period. 93.78% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have weighed in on LAMR shares. Morgan Stanley boosted their price objective on shares of Lamar Advertising from $125.00 to $135.00 and gave the company an “equal weight” rating in a report on Monday, August 4th. Weiss Ratings cut shares of Lamar Advertising from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday. JPMorgan Chase & Co. cut their price target on Lamar Advertising from $125.00 to $122.00 and set a “neutral” rating for the company in a research note on Monday, August 11th. Finally, Wells Fargo & Company reduced their price target on Lamar Advertising from $122.00 to $119.00 and set an “equal weight” rating on the stock in a research report on Monday, August 11th. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $134.20.

Lamar Advertising Stock Up 5.3%

Shares of LAMR opened at $126.35 on Monday. Lamar Advertising Company has a one year low of $99.84 and a one year high of $135.91. The company has a market cap of $12.79 billion, a P/E ratio of 29.38 and a beta of 1.36. 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 firm has a 50 day simple moving average of $122.45 and a two-hundred day simple moving average of $121.40.

Lamar Advertising (NASDAQ:LAMR) last issued its earnings results on Thursday, November 6th. The real estate investment trust reported $2.20 earnings per share for the quarter, beating analysts’ consensus estimates of $2.14 by $0.06. Lamar Advertising had a return on equity of 41.85% and a net margin of 19.72%.The firm had revenue of $585.54 million for the quarter, compared to the consensus estimate of $584.00 million. Research analysts forecast that Lamar Advertising Company will post 7.92 EPS for the current fiscal year.

Lamar Advertising Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Friday, September 19th were paid a $1.55 dividend. The ex-dividend date of this dividend was Friday, September 19th. This represents a $6.20 annualized dividend and a yield of 4.9%. Lamar Advertising’s dividend payout ratio (DPR) is 145.54%.

Insider Transactions at Lamar Advertising

In other Lamar Advertising news, CFO Jay Lecoryelle Johnson sold 22,000 shares of Lamar Advertising stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $124.28, for a total value of $2,734,160.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 14.99% of the stock is currently owned by corporate insiders.

Lamar Advertising Company 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.