Victory Capital Management Inc. Has $460.93 Million Stock Holdings in Lamar Advertising (NASDAQ:LAMR)

Victory Capital Management Inc. lessened its position in shares of Lamar Advertising (NASDAQ:LAMR - Free Report) by 13.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,450,056 shares of the real estate investment trust's stock after selling 529,776 shares during the quarter. Lamar Advertising makes up about 0.4% of Victory Capital Management Inc.'s investment portfolio, making the stock its 28th largest position. Victory Capital Management Inc. owned 3.37% of Lamar Advertising worth $460,927,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. Allspring Global Investments Holdings LLC raised its position in Lamar Advertising by 25.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,628 shares of the real estate investment trust's stock valued at $314,000 after purchasing an additional 535 shares during the last quarter. Empowered Funds LLC raised its position in shares of Lamar Advertising by 17.2% during the first quarter. Empowered Funds LLC now owns 13,115 shares of the real estate investment trust's stock worth $1,566,000 after acquiring an additional 1,929 shares during the last quarter. Sei Investments Co. raised its position in shares of Lamar Advertising by 31.2% during the first quarter. Sei Investments Co. now owns 16,085 shares of the real estate investment trust's stock worth $1,921,000 after acquiring an additional 3,829 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of Lamar Advertising by 79.1% during the first quarter. Russell Investments Group Ltd. now owns 123,138 shares of the real estate investment trust's stock worth $14,703,000 after acquiring an additional 54,390 shares during the last quarter. Finally, Avantax Advisory Services Inc. raised its position in shares of Lamar Advertising by 22.1% during the first quarter. Avantax Advisory Services Inc. now owns 16,107 shares of the real estate investment trust's stock worth $1,923,000 after acquiring an additional 2,912 shares during the last quarter. Institutional investors and hedge funds own 93.78% of the company's stock.

Lamar Advertising Stock Performance

NASDAQ:LAMR traded down $1.10 on Tuesday, hitting $128.94. The company's stock had a trading volume of 889,754 shares, compared to its average volume of 407,774. 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 stock has a fifty day moving average of $131.84 and a two-hundred day moving average of $123.08. The firm has a market capitalization of $13.19 billion, a P/E ratio of 26.01 and a beta of 1.52. Lamar Advertising has a one year low of $91.20 and a one year high of $139.88.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last announced its earnings results on Friday, November 8th. The real estate investment trust reported $1.44 earnings per share for the quarter, missing analysts' consensus estimates of $2.17 by ($0.73). The firm had revenue of $564.10 million for the quarter, compared to the consensus estimate of $568.91 million. Lamar Advertising had a return on equity of 42.18% and a net margin of 23.34%. Lamar Advertising's revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter last year, the business posted $2.04 EPS. Research analysts predict that Lamar Advertising will post 7.75 earnings per share for the current year.

Lamar Advertising Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Wednesday, September 18th were given a dividend of $1.40 per share. The ex-dividend date was Wednesday, September 18th. This represents a $5.60 dividend on an annualized basis and a yield of 4.34%. 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 Upgrades and Downgrades

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