Navellier & Associates Inc. Has $618,000 Stock Holdings in Lamar Advertising (NASDAQ:LAMR)

Navellier & Associates Inc. decreased its position in shares of Lamar Advertising (NASDAQ:LAMR) by 22.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,624 shares of the real estate investment trust’s stock after selling 1,311 shares during the quarter. Navellier & Associates Inc.’s holdings in Lamar Advertising were worth $618,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Quest Partners LLC acquired a new position in Lamar Advertising during the 3rd quarter worth $2,603,000. Thrivent Financial for Lutherans lifted its holdings in Lamar Advertising by 27.0% during the 3rd quarter. Thrivent Financial for Lutherans now owns 28,382 shares of the real estate investment trust’s stock worth $3,792,000 after buying an additional 6,034 shares in the last quarter. Natixis Advisors LLC lifted its stake in shares of Lamar Advertising by 6.4% in the 3rd quarter. Natixis Advisors LLC now owns 64,288 shares of the real estate investment trust’s stock valued at $8,589,000 after purchasing an additional 3,846 shares during the period. Coastline Trust Co acquired a new position in shares of Lamar Advertising in the 3rd quarter valued at $134,000. Finally, Empowered Funds LLC lifted its stake in shares of Lamar Advertising by 17.1% in the 3rd quarter. Empowered Funds LLC now owns 16,765 shares of the real estate investment trust’s stock valued at $2,240,000 after purchasing an additional 2,453 shares during the period. Institutional investors and hedge funds own 93.78% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. JPMorgan Chase & Co. increased 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. Morgan Stanley increased their price target on Lamar Advertising from $125.00 to $135.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. StockNews.com downgraded Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Monday, November 11th. Wells Fargo & Company cut their price target on Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating on the stock in a research note on Monday, November 11th. Finally, TD Cowen raised their price objective on Lamar Advertising from $142.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $132.40.

Lamar Advertising Stock Performance

Shares of Lamar Advertising stock opened at $129.27 on Friday. The stock’s fifty day simple moving average is $132.36 and its 200 day simple moving average is $123.60. The company has a market capitalization of $13.23 billion, a PE ratio of 25.85 and a beta of 1.52. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 2.48. Lamar Advertising has a 12 month low of $97.52 and a 12 month high of $139.88.

Lamar Advertising (NASDAQ:LAMR) last released its earnings results on Friday, November 8th. The real estate investment trust reported $1.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.73). The firm had revenue of $564.10 million for the quarter, compared to the consensus estimate of $568.91 million. Lamar Advertising had a return on equity of 42.58% and a net margin of 23.46%. Lamar Advertising’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter last year, the company posted $2.04 EPS. On average, research analysts predict that Lamar Advertising will post 7.52 EPS for the current year.

Lamar Advertising Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Wednesday, September 18th were issued a $1.40 dividend. This is a boost from Lamar Advertising’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $5.60 annualized dividend and a dividend yield of 4.33%. Lamar Advertising’s dividend payout ratio (DPR) is presently 112.00%.

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.