Hancock Whitney Corp lessened its position in Lamar Advertising Co (NASDAQ:LAMR) by 11.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 137,923 shares of the real estate investment trust’s stock after selling 17,081 shares during the period. Hancock Whitney Corp owned about 0.14% of Lamar Advertising worth $10,932,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in LAMR. Oregon Public Employees Retirement Fund grew its position in shares of Lamar Advertising by 6,818.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,297,606 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 2,264,394 shares during the period. Vanguard Group Inc boosted its holdings in shares of Lamar Advertising by 7.5% during the 3rd quarter. Vanguard Group Inc now owns 12,404,517 shares of the real estate investment trust’s stock worth $965,072,000 after buying an additional 867,169 shares during the period. Norges Bank bought a new stake in shares of Lamar Advertising during the 4th quarter worth about $45,636,000. Rothschild & Co. Asset Management US Inc. bought a new stake in shares of Lamar Advertising during the 4th quarter worth about $20,855,000. Finally, Millennium Management LLC boosted its holdings in shares of Lamar Advertising by 183.4% during the 4th quarter. Millennium Management LLC now owns 364,903 shares of the real estate investment trust’s stock worth $25,244,000 after buying an additional 236,151 shares during the period. 81.01% of the stock is owned by institutional investors.
Shares of NASDAQ:LAMR traded up $0.31 during trading on Monday, reaching $81.02. The stock had a trading volume of 247,171 shares, compared to its average volume of 352,110. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 3.48. The business’s fifty day moving average is $80.75. Lamar Advertising Co has a 52 week low of $64.51 and a 52 week high of $84.50. The stock has a market capitalization of $8.07 billion, a PE ratio of 14.73 and a beta of 0.97.
The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were paid a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a yield of 4.74%. The ex-dividend date was Thursday, June 13th. Lamar Advertising’s dividend payout ratio is currently 69.82%.
In related news, Director Thomas V. Reifenheiser sold 4,000 shares of Lamar Advertising stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $81.05, for a total value of $324,200.00. Following the transaction, the director now directly owns 38,708 shares of the company’s stock, valued at $3,137,283.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Keith A. Istre sold 16,294 shares of Lamar Advertising stock in a transaction on Monday, May 13th. The stock was sold at an average price of $80.28, for a total transaction of $1,308,082.32. Following the completion of the transaction, the chief financial officer now directly owns 118,991 shares in the company, valued at $9,552,597.48. The disclosure for this sale can be found here. Company insiders own 15.19% of the company’s stock.
Several analysts recently commented on LAMR shares. BidaskClub downgraded shares of Lamar Advertising from a “buy” rating to a “hold” rating in a report on Wednesday, June 26th. Zacks Investment Research cut shares of Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Tuesday, April 23rd. Finally, ValuEngine cut shares of Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Tuesday, April 9th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $78.50.
Lamar Advertising Company Profile
Founded in 1902, Lamar Advertising (Nasdaq: LAMR) is one of the largest outdoor advertising companies in North America, with approximately 360,000 displays across the United States and Canada. Lamar offers advertisers a variety of billboard, interstate logo, transit and airport advertising formats, helping both local businesses and national brands reach broad audiences every day.
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