PNC Financial Services Group Inc. Has $6.08 Million Holdings in Lamar Advertising (NASDAQ:LAMR)

PNC Financial Services Group Inc. decreased its position in shares of Lamar Advertising (NASDAQ:LAMR - Free Report) by 11.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 45,532 shares of the real estate investment trust's stock after selling 5,769 shares during the quarter. PNC Financial Services Group Inc.'s holdings in Lamar Advertising were worth $6,083,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of LAMR. Boston Trust Walden Corp lifted its stake in Lamar Advertising by 2.3% in the second quarter. Boston Trust Walden Corp now owns 399,678 shares of the real estate investment trust's stock valued at $47,774,000 after buying an additional 8,857 shares in the last quarter. Csenge Advisory Group acquired a new stake in shares of Lamar Advertising in the second quarter valued at approximately $722,000. Natixis Advisors LLC raised its holdings in shares of Lamar Advertising by 13.1% in the second quarter. Natixis Advisors LLC now owns 60,442 shares of the real estate investment trust's stock valued at $7,225,000 after purchasing an additional 6,979 shares during the last quarter. Acadian Asset Management LLC raised its holdings in shares of Lamar Advertising by 179.4% in the second quarter. Acadian Asset Management LLC now owns 18,639 shares of the real estate investment trust's stock valued at $2,226,000 after purchasing an additional 11,967 shares during the last quarter. Finally, Los Angeles Capital Management LLC acquired a new stake in shares of Lamar Advertising in the third quarter valued at approximately $43,665,000. Institutional investors own 93.78% of the company's stock.

Lamar Advertising Price Performance

Shares of LAMR stock traded up $1.08 on Friday, reaching $130.35. The company had a trading volume of 287,075 shares, compared to its average volume of 475,544. The stock has a market capitalization of $13.34 billion, a PE ratio of 26.07 and a beta of 1.52. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 2.48. Lamar Advertising has a one year low of $97.54 and a one year high of $139.88. The business's 50-day moving average is $132.41 and its 200 day moving average is $123.77.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last posted its earnings results on Friday, November 8th. The real estate investment trust reported $1.44 EPS for the quarter, missing analysts' consensus estimates of $2.17 by ($0.73). The company had revenue of $564.10 million during the quarter, compared to the consensus estimate of $568.91 million. Lamar Advertising had a return on equity of 42.58% and a net margin of 23.46%. The firm's revenue was up 4.0% compared to the same quarter last year. During the same period last year, the company posted $2.04 EPS. Equities research analysts forecast that Lamar Advertising will post 7.52 EPS for the current fiscal year.

Lamar Advertising Increases Dividend

The company 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. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $5.60 annualized dividend and a dividend yield of 4.30%. This is an increase from Lamar Advertising's previous quarterly dividend of $1.30. Lamar Advertising's dividend payout ratio is currently 112.00%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. TD Cowen lifted their price objective on shares of Lamar Advertising from $142.00 to $160.00 and gave the company a "buy" rating in a report on Monday, November 11th. JPMorgan Chase & Co. lifted their price objective on shares of Lamar Advertising from $117.00 to $121.00 and gave the company a "neutral" rating in a report on Wednesday, July 31st. Morgan Stanley boosted their target price on shares of Lamar Advertising from $125.00 to $135.00 and gave the stock an "equal weight" rating in a report on Monday, November 11th. StockNews.com downgraded shares of Lamar Advertising from a "buy" rating to a "hold" rating in a report on Monday, November 11th. Finally, Wells Fargo & Company decreased their price objective on shares of Lamar Advertising from $132.00 to $124.00 and set an "equal weight" rating on the stock in a report on Monday, November 11th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Lamar Advertising currently has a consensus rating of "Hold" and an average price target of $132.40.

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.