Handelsbanken Fonder AB Raises Stock Position in Lamar Advertising (NASDAQ:LAMR)

Handelsbanken Fonder AB raised its holdings in Lamar Advertising (NASDAQ:LAMR) by 32.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 25,981 shares of the real estate investment trust’s stock after purchasing an additional 6,300 shares during the quarter. Handelsbanken Fonder AB’s holdings in Lamar Advertising were worth $3,471,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP acquired a new position in shares of Lamar Advertising in the 4th quarter valued at about $111,255,000. Centersquare Investment Management LLC raised its position in Lamar Advertising by 82.8% during the first quarter. Centersquare Investment Management LLC now owns 621,763 shares of the real estate investment trust’s stock valued at $72,031,000 after acquiring an additional 281,582 shares in the last quarter. Boston Trust Walden Corp lifted its holdings 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 acquiring an additional 8,857 shares during the period. Csenge Advisory Group acquired a new position in Lamar Advertising in the second quarter valued at approximately $722,000. Finally, Quadrature Capital Ltd purchased a new stake in Lamar Advertising in the 4th quarter worth approximately $1,280,000. 93.78% of the stock is owned by hedge funds and other institutional investors.

Lamar Advertising Stock Performance

LAMR opened at $132.93 on Wednesday. The firm’s fifty day simple moving average is $124.68 and its two-hundred day simple moving average is $119.78. Lamar Advertising has a 52-week low of $77.79 and a 52-week high of $137.40. The company has a market cap of $13.59 billion, a price-to-earnings ratio of 27.30 and a beta of 1.52. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 2.31.

Lamar Advertising (NASDAQ:LAMR) last released its quarterly earnings results on Thursday, August 8th. The real estate investment trust reported $1.34 earnings per share for the quarter, missing the consensus estimate of $2.01 by ($0.67). Lamar Advertising had a return on equity of 42.18% and a net margin of 23.34%. The company had revenue of $565.25 million for the quarter, compared to analyst estimates of $564.96 million. During the same quarter last year, the company earned $1.90 EPS. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. Equities analysts anticipate that Lamar Advertising will post 7.75 earnings per share for the current fiscal year.

Lamar Advertising Increases Dividend

The company also recently declared 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 is a positive change from Lamar Advertising’s previous quarterly dividend of $1.30. This represents a $5.60 dividend on an annualized basis and a dividend yield of 4.21%. Lamar Advertising’s payout ratio is currently 114.99%.

Analyst Upgrades and Downgrades

LAMR has been the subject of several recent research reports. Citigroup lowered shares of Lamar Advertising from a “buy” rating to a “neutral” rating and set a $122.00 target price for the company. in a report on Thursday, July 11th. StockNews.com cut shares of Lamar Advertising from a “buy” rating to a “hold” rating in a report on Tuesday, October 1st. TD Cowen increased their target price on shares of Lamar Advertising from $135.00 to $140.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. JPMorgan Chase & Co. lifted their price target on Lamar Advertising from $117.00 to $121.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Finally, Wells Fargo & Company began coverage on Lamar Advertising in a report on Thursday, September 19th. They issued an “equal weight” rating and a $132.00 price target for the company. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $125.00.

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.