Essex Financial Services Inc. Has $1.04 Million Stock Holdings in Lamar Advertising (NASDAQ:LAMR)

Essex Financial Services Inc. lowered its position in shares of Lamar Advertising (NASDAQ:LAMR) by 5.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 8,538 shares of the real estate investment trust’s stock after selling 484 shares during the period. Essex Financial Services Inc.’s holdings in Lamar Advertising were worth $1,039,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Blue Trust Inc. increased its position in Lamar Advertising by 444.1% during the third quarter. Blue Trust Inc. now owns 185 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 151 shares during the period. Brooklyn Investment Group bought a new position in shares of Lamar Advertising during the third quarter worth approximately $25,000. Concord Wealth Partners acquired a new stake in shares of Lamar Advertising in the third quarter valued at approximately $26,000. Assetmark Inc. boosted its stake in shares of Lamar Advertising by 109.3% in the third quarter. Assetmark Inc. now owns 224 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 117 shares during the period. Finally, Versant Capital Management Inc grew its position in Lamar Advertising by 46.6% during the fourth quarter. Versant Capital Management Inc now owns 450 shares of the real estate investment trust’s stock worth $55,000 after buying an additional 143 shares in the last quarter. Institutional investors own 93.78% of the company’s stock.

Lamar Advertising Price Performance

LAMR stock opened at $126.75 on Wednesday. The stock has a market cap of $12.97 billion, a price-to-earnings ratio of 25.35 and a beta of 1.51. The company has a debt-to-equity ratio of 2.48, a current ratio of 0.56 and a quick ratio of 0.56. The company has a 50 day simple moving average of $125.13 and a 200 day simple moving average of $126.90. Lamar Advertising has a 1 year low of $102.10 and a 1 year high of $139.88.

Lamar Advertising Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Wednesday, December 18th were issued a dividend of $1.40 per share. The ex-dividend date was Wednesday, December 18th. This represents a $5.60 annualized dividend and a dividend yield of 4.42%. Lamar Advertising’s dividend payout ratio (DPR) is presently 112.00%.

Analyst Ratings Changes

A number of research firms have recently weighed in on LAMR. Wells Fargo & Company cut their target price on Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating for the company in a research report on Monday, November 11th. StockNews.com lowered shares of Lamar Advertising from a “buy” rating to a “hold” rating in a report on Monday, November 11th. TD Cowen upped their price target on shares of Lamar Advertising from $142.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Finally, Morgan Stanley lifted their price objective on shares of Lamar Advertising from $125.00 to $135.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $132.40.

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.