Burney Co. Sells 879 Shares of Lamar Advertising Company $LAMR

Burney Co. reduced its holdings in Lamar Advertising Company (NASDAQ:LAMR) by 6.6% during the second quarter, Holdings Channel.com reports. The fund owned 12,448 shares of the real estate investment trust’s stock after selling 879 shares during the quarter. Burney Co.’s holdings in Lamar Advertising were worth $1,511,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in LAMR. Envestnet Asset Management Inc. increased its stake 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 worth $51,701,000 after acquiring an additional 22,671 shares during the last quarter. Hourglass Capital LLC increased its stake in Lamar Advertising by 7.5% in the 1st quarter. Hourglass Capital LLC now owns 28,945 shares of the real estate investment trust’s stock worth $3,293,000 after acquiring an additional 2,025 shares during the last quarter. Wealth Advisory Solutions LLC increased its stake in Lamar Advertising by 1.3% in the 1st quarter. Wealth Advisory Solutions LLC now owns 13,354 shares of the real estate investment trust’s stock worth $1,519,000 after acquiring an additional 176 shares during the last quarter. Van Cleef Asset Management Inc increased its stake in Lamar Advertising by 0.3% in the 1st quarter. Van Cleef Asset Management Inc now owns 210,116 shares of the real estate investment trust’s stock worth $23,907,000 after acquiring an additional 721 shares during the last quarter. Finally, Cerity Partners LLC increased its stake in Lamar Advertising by 59.2% in the 1st quarter. Cerity Partners LLC now owns 26,743 shares of the real estate investment trust’s stock worth $3,043,000 after acquiring an additional 9,948 shares during the last quarter. 93.78% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. JPMorgan Chase & Co. decreased their target price on Lamar Advertising from $125.00 to $122.00 and set a “neutral” rating on the stock in a research note on Monday, August 11th. Wells Fargo & Company cut their price objective 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. Weiss Ratings reiterated a “buy (b-)” rating on shares of Lamar Advertising in a report on Wednesday, October 8th. Finally, Morgan Stanley upped their price objective on Lamar Advertising from $125.00 to $135.00 and gave the stock an “equal weight” rating in a report on Monday, August 4th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Lamar Advertising presently has a consensus rating of “Moderate Buy” and an average target price of $134.20.

Insiders Place Their Bets

In related news, CFO Jay Lecoryelle Johnson sold 22,000 shares of the 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 can be accessed through this link. 14.99% of the stock is owned by corporate insiders.

Lamar Advertising Price Performance

LAMR opened at $119.60 on Wednesday. The stock has a 50-day moving average price of $122.78 and a 200-day moving average price of $121.14. Lamar Advertising Company has a 12-month low of $99.84 and a 12-month high of $136.89. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 3.45. The stock has a market capitalization of $12.11 billion, a P/E ratio of 27.81 and a beta of 1.37.

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

Lamar Advertising Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors 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 annualized dividend and a yield of 5.2%. Lamar Advertising’s dividend payout ratio is currently 144.19%.

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.