Connecticut Wealth Management LLC Has $370,000 Stake in Lamar Advertising (NASDAQ:LAMR)

Connecticut Wealth Management LLC lowered its holdings in shares of Lamar Advertising (NASDAQ:LAMR) by 9.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,480 shares of the real estate investment trust’s stock after selling 357 shares during the quarter. Connecticut Wealth Management LLC’s holdings in Lamar Advertising were worth $370,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of LAMR. Cary Street Partners Investment Advisory LLC bought a new position in Lamar Advertising in the third quarter valued at approximately $30,000. Signaturefd LLC boosted its stake in Lamar Advertising by 43.7% in the 3rd quarter. Signaturefd LLC now owns 493 shares of the real estate investment trust’s stock worth $41,000 after purchasing an additional 150 shares during the period. Arlington Trust Co LLC bought a new position in Lamar Advertising during the 4th quarter worth about $57,000. Sunbelt Securities Inc. increased its holdings in Lamar Advertising by 249.0% during the 3rd quarter. Sunbelt Securities Inc. now owns 705 shares of the real estate investment trust’s stock worth $59,000 after purchasing an additional 503 shares in the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of Lamar Advertising in the 3rd quarter valued at about $108,000. Institutional investors own 93.78% of the company’s stock.

Lamar Advertising Stock Performance

LAMR traded up $1.60 on Monday, reaching $116.68. The company had a trading volume of 196,397 shares, compared to its average volume of 416,640. The company’s fifty day moving average is $114.99 and its 200 day moving average is $105.99. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.38 and a current ratio of 0.38. The stock has a market cap of $11.91 billion, a P/E ratio of 23.63 and a beta of 1.49. Lamar Advertising has a fifty-two week low of $77.21 and a fifty-two week high of $121.99.

Lamar Advertising (NASDAQ:LAMR) last released its quarterly earnings results on Thursday, May 2nd. The real estate investment trust reported $0.76 earnings per share for the quarter, missing the consensus estimate of $1.47 by ($0.71). Lamar Advertising had a return on equity of 41.86% and a net margin of 23.29%. The firm had revenue of $498.15 million for the quarter, compared to analyst estimates of $496.98 million. During the same period in the previous year, the business posted $1.41 earnings per share. The business’s revenue for the quarter was up 5.7% on a year-over-year basis. As a group, analysts predict that Lamar Advertising will post 7.92 earnings per share for the current fiscal year.

Lamar Advertising Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were given a dividend of $1.30 per share. This is an increase from Lamar Advertising’s previous quarterly dividend of $1.25. This represents a $5.20 annualized dividend and a dividend yield of 4.46%. The ex-dividend date of this dividend was Thursday, March 14th. Lamar Advertising’s dividend payout ratio is currently 106.78%.

Insider Buying and Selling at Lamar Advertising

In related news, CFO Jay Lecoryelle Johnson sold 5,000 shares of Lamar Advertising stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $118.97, for a total transaction of $594,850.00. Following the sale, the chief financial officer now directly owns 10,000 shares of the company’s stock, valued at approximately $1,189,700. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 14.98% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on LAMR. Morgan Stanley lifted their target price on Lamar Advertising from $105.00 to $110.00 and gave the company an “equal weight” rating in a research report on Monday, February 26th. JPMorgan Chase & Co. raised their price objective on Lamar Advertising from $92.00 to $109.00 and gave the company a “neutral” rating in a report on Monday, February 26th. Finally, StockNews.com raised Lamar Advertising from a “hold” rating to a “buy” rating in a report on Tuesday, March 5th.

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.