Hennion & Walsh Asset Management Inc. Reduces Stock Holdings in Lamar Advertising (NASDAQ:LAMR)

Hennion & Walsh Asset Management Inc. lowered its holdings in Lamar Advertising (NASDAQ:LAMR) by 7.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,634 shares of the real estate investment trust’s stock after selling 1,072 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Lamar Advertising were worth $1,628,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in LAMR. State of Michigan Retirement System lifted its position in shares of Lamar Advertising by 0.5% during the 4th quarter. State of Michigan Retirement System now owns 21,038 shares of the real estate investment trust’s stock valued at $2,236,000 after buying an additional 100 shares in the last quarter. Toronto Dominion Bank lifted its holdings in Lamar Advertising by 1.2% during the third quarter. Toronto Dominion Bank now owns 9,596 shares of the real estate investment trust’s stock valued at $801,000 after purchasing an additional 112 shares in the last quarter. First Hawaiian Bank raised its stake in Lamar Advertising by 1.5% in the 4th quarter. First Hawaiian Bank now owns 7,924 shares of the real estate investment trust’s stock valued at $842,000 after purchasing an additional 116 shares during the last quarter. Rosenberg Matthew Hamilton raised its position in shares of Lamar Advertising by 4.3% in the fourth quarter. Rosenberg Matthew Hamilton now owns 2,841 shares of the real estate investment trust’s stock valued at $302,000 after buying an additional 118 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC lifted its stake in Lamar Advertising by 1.6% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 7,964 shares of the real estate investment trust’s stock worth $846,000 after purchasing an additional 123 shares in the last quarter. Hedge funds and other institutional investors own 93.78% of the company’s stock.

Insider Buying and Selling at Lamar Advertising

In other Lamar Advertising news, Director John E. Koerner III sold 17,000 shares of Lamar Advertising stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $120.05, for a total transaction of $2,040,850.00. Following the completion of the sale, the director now directly owns 32,178 shares in the company, valued at $3,862,968.90. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 14.98% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Separately, StockNews.com raised Lamar Advertising from a “hold” rating to a “buy” rating in a research note on Friday, May 31st.

Lamar Advertising Price Performance

Lamar Advertising stock opened at $119.53 on Friday. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 2.39. The stock has a market cap of $12.22 billion, a P/E ratio of 24.54 and a beta of 1.50. The company has a 50-day moving average price of $117.31 and a 200 day moving average price of $112.50. Lamar Advertising has a 12-month low of $77.21 and a 12-month high of $122.22.

Lamar Advertising (NASDAQ:LAMR) last released its quarterly earnings data on Thursday, May 2nd. The real estate investment trust reported $0.76 EPS for the quarter, missing analysts’ consensus estimates of $1.47 by ($0.71). Lamar Advertising had a net margin of 23.29% and a return on equity of 41.86%. The business had revenue of $498.15 million during the quarter, compared to analyst estimates of $496.98 million. During the same quarter in the prior year, the company posted $1.41 earnings per share. The company’s revenue was up 5.7% on a year-over-year basis. Sell-side analysts anticipate that Lamar Advertising will post 7.69 earnings per share for the current year.

Lamar Advertising Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 17th were issued a $1.30 dividend. The ex-dividend date of this dividend was Monday, June 17th. This represents a $5.20 annualized dividend and a yield of 4.35%. Lamar Advertising’s dividend payout ratio (DPR) is currently 106.78%.

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.