Penobscot Investment Management Company Inc. Decreases Stock Position in Lamar Advertising Company $LAMR

Penobscot Investment Management Company Inc. lessened its stake in Lamar Advertising Company (NASDAQ:LAMR) by 4.7% in the second quarter, Holdings Channel reports. The fund owned 3,049 shares of the real estate investment trust’s stock after selling 150 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in Lamar Advertising were worth $370,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of LAMR. 1248 Management LLC purchased a new position in Lamar Advertising in the 1st quarter worth approximately $26,000. Golden State Wealth Management LLC purchased a new position in Lamar Advertising in the 1st quarter worth approximately $28,000. Ameritas Advisory Services LLC purchased a new position in Lamar Advertising in the 2nd quarter worth approximately $28,000. HHM Wealth Advisors LLC boosted its holdings in Lamar Advertising by 26,900.0% in the 1st quarter. HHM Wealth Advisors LLC now owns 270 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 269 shares during the period. Finally, Truvestments Capital LLC boosted its holdings in Lamar Advertising by 79.5% in the 1st quarter. Truvestments Capital LLC now owns 316 shares of the real estate investment trust’s stock worth $36,000 after acquiring an additional 140 shares during the period. Hedge funds and other institutional investors own 93.78% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Weiss Ratings restated a “buy (b-)” rating on shares of Lamar Advertising in a report on Saturday, September 27th. Morgan Stanley upped their target price on Lamar Advertising from $125.00 to $135.00 and gave the company an “equal weight” rating in a research report on Monday, August 4th. Wells Fargo & Company cut their target price on Lamar Advertising from $122.00 to $119.00 and set an “equal weight” rating on the stock in a research report on Monday, August 11th. Finally, JPMorgan Chase & Co. cut their target price on Lamar Advertising from $125.00 to $122.00 and set a “neutral” rating on the stock in a research report on Monday, August 11th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $134.20.

Lamar Advertising Price Performance

Shares of LAMR opened at $123.22 on Friday. The company has a market cap of $12.47 billion, a P/E ratio of 28.66 and a beta of 1.37. The stock has a fifty day moving average price of $124.03 and a 200 day moving average price of $119.61. The company has a debt-to-equity ratio of 3.45, a current ratio of 0.58 and a quick ratio of 0.58. Lamar Advertising Company has a 12 month low of $99.84 and a 12 month high of $139.88.

Lamar Advertising (NASDAQ:LAMR) last issued its quarterly earnings data on Friday, August 8th. The real estate investment trust reported $2.22 EPS for the quarter, topping analysts’ consensus estimates of $1.48 by $0.74. The firm had revenue of $579.31 million during the quarter, compared to the consensus estimate of $580.72 million. Lamar Advertising had a return on equity of 41.85% and a net margin of 19.72%. Lamar Advertising has set its FY 2025 guidance at 6.090-6.11 EPS. On average, research analysts forecast that Lamar Advertising Company will post 7.92 earnings per share for the current year.

Lamar Advertising Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Friday, September 19th were issued a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date of this dividend was Friday, September 19th. Lamar Advertising’s dividend payout ratio (DPR) is 144.19%.

Insider Activity at Lamar Advertising

In related news, CFO Jay Lecoryelle Johnson sold 22,000 shares of Lamar Advertising stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $124.28, for a total transaction of $2,734,160.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 14.99% of the company’s stock.

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.