Texas Permanent School Fund Corp Raises Stock Holdings in Lamar Advertising (NASDAQ:LAMR)

Texas Permanent School Fund Corp boosted its holdings in Lamar Advertising (NASDAQ:LAMR) by 1.4% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 76,647 shares of the real estate investment trust’s stock after buying an additional 1,025 shares during the quarter. Texas Permanent School Fund Corp owned 0.08% of Lamar Advertising worth $9,152,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Financial Synergies Wealth Advisors Inc. bought a new position in shares of Lamar Advertising during the 1st quarter valued at approximately $25,000. Fidelis Capital Partners LLC bought a new position in shares of Lamar Advertising during the 1st quarter valued at approximately $27,000. Atlantic Edge Private Wealth Management LLC bought a new position in shares of Lamar Advertising during the 4th quarter valued at approximately $30,000. Quarry LP grew its stake in shares of Lamar Advertising by 70.4% during the 4th quarter. Quarry LP now owns 322 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 133 shares during the period. Finally, Sound Income Strategies LLC grew its stake in shares of Lamar Advertising by 85.8% during the 1st quarter. Sound Income Strategies LLC now owns 314 shares of the real estate investment trust’s stock valued at $37,000 after acquiring an additional 145 shares during the period. Hedge funds and other institutional investors own 93.78% of the company’s stock.

Insider Transactions at Lamar Advertising

In related news, Director John E. Koerner III sold 17,000 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of $120.05, for a total transaction of $2,040,850.00. Following the sale, the director now owns 32,178 shares in the company, valued at approximately $3,862,968.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 14.98% of the company’s stock.

Analyst Ratings Changes

LAMR has been the subject of a number of recent research reports. StockNews.com upgraded Lamar Advertising from a “hold” rating to a “buy” rating in a research note on Friday, May 31st. Citigroup downgraded Lamar Advertising from a “buy” rating to a “neutral” rating and set a $122.00 price target for the company. in a research note on Thursday.

Lamar Advertising Price Performance

LAMR stock traded down $0.04 during midday trading on Thursday, hitting $117.53. The company’s stock had a trading volume of 549,007 shares, compared to its average volume of 403,046. Lamar Advertising has a 12 month low of $77.21 and a 12 month high of $122.22. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 2.39. The firm has a market capitalization of $12.02 billion, a price-to-earnings ratio of 24.13 and a beta of 1.52. The company has a 50 day moving average of $117.87 and a two-hundred day moving average of $113.14.

Lamar Advertising (NASDAQ:LAMR) last issued its quarterly earnings data on Thursday, May 2nd. The real estate investment trust reported $0.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.47 by ($0.71). The firm had revenue of $498.15 million for the quarter, compared to analysts’ expectations of $496.98 million. Lamar Advertising had a return on equity of 41.86% and a net margin of 23.29%. The firm’s revenue was up 5.7% on a year-over-year basis. During the same period last year, the company earned $1.41 earnings per share. On average, analysts expect that Lamar Advertising will post 7.69 EPS for the current year.

Lamar Advertising Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Monday, June 17th were issued a dividend of $1.30 per share. The ex-dividend date was Monday, June 17th. This represents a $5.20 annualized dividend and a dividend yield of 4.42%. Lamar Advertising’s dividend payout ratio (DPR) is 106.78%.

Lamar Advertising Company 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.