Markel Group Inc. lifted its stake in shares of Lamar Advertising (NASDAQ:LAMR - Free Report) by 18.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 111,000 shares of the real estate investment trust's stock after purchasing an additional 17,000 shares during the quarter. Markel Group Inc. owned about 0.11% of Lamar Advertising worth $14,830,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also made changes to their positions in LAMR. Blue Trust Inc. grew its holdings in Lamar Advertising by 444.1% in the 3rd quarter. Blue Trust Inc. now owns 185 shares of the real estate investment trust's stock worth $25,000 after buying an additional 151 shares in the last quarter. Whittier Trust Co. boosted its holdings in Lamar Advertising by 144.4% during the second quarter. Whittier Trust Co. now owns 220 shares of the real estate investment trust's stock worth $26,000 after buying an additional 130 shares in the last quarter. Concord Wealth Partners bought a new position in shares of Lamar Advertising in the third quarter valued at $26,000. MFA Wealth Advisors LLC acquired a new stake in shares of Lamar Advertising during the 2nd quarter valued at $30,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in shares of Lamar Advertising during the 2nd quarter worth $45,000. Institutional investors own 93.78% of the company's stock.
Lamar Advertising Stock Down 4.7 %
NASDAQ LAMR traded down $6.41 on Friday, reaching $128.58. The stock had a trading volume of 1,099,084 shares, compared to its average volume of 301,967. Lamar Advertising has a 1 year low of $91.20 and a 1 year high of $139.88. The business has a 50 day moving average price of $131.75 and a 200 day moving average price of $122.84. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 2.31. The company has a market capitalization of $13.15 billion, a price-to-earnings ratio of 26.08 and a beta of 1.52.
Lamar Advertising (NASDAQ:LAMR - Get Free Report) last announced its quarterly earnings results on Thursday, August 8th. The real estate investment trust reported $1.34 EPS for the quarter, missing the consensus estimate of $2.01 by ($0.67). Lamar Advertising had a net margin of 23.34% and a return on equity of 42.18%. The company had revenue of $565.25 million for the quarter, compared to analyst estimates of $564.96 million. During the same quarter last year, the business earned $1.90 EPS. The company's revenue for the quarter was up 4.5% on a year-over-year basis. On average, analysts forecast that Lamar Advertising will post 7.75 EPS for the current fiscal year.
Lamar Advertising Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Wednesday, September 18th were paid a $1.40 dividend. This is an increase from Lamar Advertising's previous quarterly dividend of $1.30. The ex-dividend date was Wednesday, September 18th. This represents a $5.60 annualized dividend and a dividend yield of 4.36%. Lamar Advertising's dividend payout ratio (DPR) is presently 113.59%.
Wall Street Analyst Weigh In
Several equities research analysts have recently commented on the company. StockNews.com upgraded Lamar Advertising from a "hold" rating to a "buy" rating in a research report on Friday, October 18th. JPMorgan Chase & Co. lifted their target price on shares of Lamar Advertising from $117.00 to $121.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 31st. Wells Fargo & Company started coverage on shares of Lamar Advertising in a research note on Thursday, September 19th. They issued an "equal weight" rating and a $132.00 price objective for the company. Finally, TD Cowen boosted their target price on shares of Lamar Advertising from $135.00 to $140.00 and gave the company a "buy" rating in a research note on Friday, August 9th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $125.00.
Read Our Latest Stock Report on Lamar Advertising
About Lamar Advertising
(
Free Report)
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.
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