Forte Capital LLC ADV Has $2.28 Million Holdings in Lamar Advertising (NASDAQ:LAMR)

Forte Capital LLC ADV trimmed its stake in Lamar Advertising (NASDAQ:LAMR) by 4.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,450 shares of the real estate investment trust’s stock after selling 1,082 shares during the period. Forte Capital LLC ADV’s holdings in Lamar Advertising were worth $2,280,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of LAMR. Invesco Ltd. raised its position in shares of Lamar Advertising by 43.4% during the third quarter. Invesco Ltd. now owns 1,693,447 shares of the real estate investment trust’s stock worth $141,352,000 after acquiring an additional 512,182 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Lamar Advertising by 2.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,441,668 shares of the real estate investment trust’s stock worth $120,336,000 after purchasing an additional 39,292 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Lamar Advertising by 0.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,009,456 shares of the real estate investment trust’s stock worth $84,259,000 after purchasing an additional 6,314 shares during the period. Makaira Partners LLC boosted its stake in shares of Lamar Advertising by 31.7% in the 3rd quarter. Makaira Partners LLC now owns 756,662 shares of the real estate investment trust’s stock valued at $63,159,000 after purchasing an additional 182,111 shares during the last quarter. Finally, HighTower Advisors LLC increased its position in shares of Lamar Advertising by 23.7% during the third quarter. HighTower Advisors LLC now owns 600,059 shares of the real estate investment trust’s stock worth $50,128,000 after buying an additional 115,006 shares during the period. 93.78% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Jay Lecoryelle Johnson sold 5,000 shares of Lamar Advertising stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $118.97, for a total transaction of $594,850.00. Following the completion of the transaction, the chief financial officer now directly owns 10,000 shares in the company, valued at $1,189,700. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 14.98% of the company’s stock.

Lamar Advertising Stock Down 3.0 %

NASDAQ:LAMR traded down $3.60 during trading hours on Friday, reaching $115.08. The company had a trading volume of 641,317 shares, compared to its average volume of 378,166. Lamar Advertising has a twelve month low of $77.21 and a twelve month high of $121.99. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 2.55. The firm has a market cap of $11.75 billion, a price-to-earnings ratio of 23.63 and a beta of 1.49. The business’s 50-day simple moving average is $114.99 and its two-hundred day simple moving average is $105.83.

Lamar Advertising (NASDAQ:LAMR) last issued its earnings results on Thursday, May 2nd. The real estate investment trust reported $0.76 EPS for the quarter, missing the consensus estimate of $1.47 by ($0.71). Lamar Advertising had a net margin of 23.29% and a return on equity of 41.80%. The firm had revenue of $498.15 million during the quarter, compared to analyst estimates of $496.98 million. During the same quarter in the prior year, the business earned $1.41 earnings per share. The business’s quarterly revenue was up 5.7% on a year-over-year basis. On average, equities analysts expect that Lamar Advertising will post 7.92 earnings per share for the current year.

Lamar Advertising Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 4.52%. The ex-dividend date of this dividend was Thursday, March 14th. This is a positive change from Lamar Advertising’s previous quarterly dividend of $1.25. Lamar Advertising’s payout ratio is 106.78%.

Wall Street Analyst Weigh In

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

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.