Wedge Capital Management L L P NC Sells 962 Shares of Lamar Advertising (NASDAQ:LAMR)

Wedge Capital Management L L P NC decreased its stake in Lamar Advertising (NASDAQ:LAMR) by 9.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,508 shares of the real estate investment trust’s stock after selling 962 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Lamar Advertising were worth $1,082,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Steward Partners Investment Advisory LLC grew its stake in shares of Lamar Advertising by 2.4% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 9,101 shares of the real estate investment trust’s stock worth $1,108,000 after buying an additional 215 shares in the last quarter. JPMorgan Chase & Co. raised its position in Lamar Advertising by 6.5% during the third quarter. JPMorgan Chase & Co. now owns 1,497,702 shares of the real estate investment trust’s stock valued at $200,093,000 after purchasing an additional 90,933 shares during the period. Jones Financial Companies Lllp raised its position in Lamar Advertising by 6.3% during the fourth quarter. Jones Financial Companies Lllp now owns 4,911 shares of the real estate investment trust’s stock valued at $598,000 after purchasing an additional 292 shares during the period. Pictet Asset Management Holding SA lifted its stake in shares of Lamar Advertising by 9.9% in the 4th quarter. Pictet Asset Management Holding SA now owns 12,042 shares of the real estate investment trust’s stock valued at $1,466,000 after purchasing an additional 1,087 shares during the last quarter. Finally, Proficio Capital Partners LLC purchased a new position in shares of Lamar Advertising in the 4th quarter worth approximately $3,557,000. 93.78% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

LAMR has been the subject of a number of recent analyst reports. Morgan Stanley dropped their price target on shares of Lamar Advertising from $135.00 to $125.00 and set an “equal weight” rating for the company in a research note on Thursday, May 1st. JPMorgan Chase & Co. dropped their target price on Lamar Advertising from $129.00 to $126.00 and set a “neutral” rating for the company in a research report on Friday, February 21st. Finally, Citigroup upgraded Lamar Advertising from a “neutral” rating to a “buy” rating and increased their price target for the stock from $114.00 to $135.00 in a report on Thursday, May 29th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $134.00.

Lamar Advertising Stock Performance

Shares of Lamar Advertising stock opened at $121.67 on Thursday. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 2.48. The stock’s fifty day moving average price is $114.88 and its 200-day moving average price is $120.36. The firm has a market cap of $12.46 billion, a P/E ratio of 34.47 and a beta of 1.35. Lamar Advertising has a 12 month low of $99.84 and a 12 month high of $139.88.

Lamar Advertising (NASDAQ:LAMR) last posted its quarterly earnings results on Thursday, May 8th. The real estate investment trust reported $1.60 EPS for the quarter, beating the consensus estimate of $1.54 by $0.06. The business had revenue of $505.43 million during the quarter, compared to analyst estimates of $509.72 million. Lamar Advertising had a net margin of 16.40% and a return on equity of 30.20%. On average, equities research analysts expect that Lamar Advertising will post 7.92 earnings per share for the current fiscal year.

Lamar Advertising Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be given a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 5.10%. The ex-dividend date of this dividend is Monday, June 16th. Lamar Advertising’s payout ratio is currently 150.49%.

Lamar Advertising 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.