Haverford Financial Services Inc. decreased its position in Lithia Motors Inc (NYSE:LAD) by 13.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,549 shares of the company’s stock after selling 1,500 shares during the quarter. Haverford Financial Services Inc.’s holdings in Lithia Motors were worth $1,264,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of the stock. BlackRock Inc. raised its holdings in Lithia Motors by 6.4% during the second quarter. BlackRock Inc. now owns 3,602,153 shares of the company’s stock worth $427,863,000 after purchasing an additional 217,265 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Lithia Motors by 15.6% during the second quarter. JPMorgan Chase & Co. now owns 575,896 shares of the company’s stock worth $68,957,000 after purchasing an additional 77,705 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Lithia Motors by 4.6% during the second quarter. Bank of New York Mellon Corp now owns 417,152 shares of the company’s stock worth $49,550,000 after purchasing an additional 18,226 shares in the last quarter. Northern Trust Corp raised its holdings in Lithia Motors by 9.2% during the second quarter. Northern Trust Corp now owns 338,081 shares of the company’s stock worth $40,158,000 after purchasing an additional 28,407 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in Lithia Motors by 104.3% during the second quarter. Bank of America Corp DE now owns 272,001 shares of the company’s stock worth $32,308,000 after purchasing an additional 138,872 shares in the last quarter.
LAD has been the topic of a number of research analyst reports. Craig Hallum raised their price objective on shares of Lithia Motors from $145.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Bank of America cut shares of Lithia Motors from a “neutral” rating to an “underperform” rating in a report on Friday, September 13th. Morgan Stanley raised their price objective on shares of Lithia Motors from $144.00 to $151.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th. ValuEngine raised shares of Lithia Motors from a “sell” rating to a “hold” rating in a report on Friday, October 25th. Finally, Guggenheim raised their price objective on shares of Lithia Motors from $147.00 to $171.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $135.30.
In related news, Director Kenneth E. Roberts sold 5,000 shares of Lithia Motors stock in a transaction on Friday, August 30th. The shares were sold at an average price of $131.27, for a total value of $656,350.00. Following the transaction, the director now directly owns 104,203 shares in the company, valued at approximately $13,678,727.81. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Abrams Capital Management, L.P sold 73,933 shares of the business’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $152.42, for a total transaction of $11,268,867.86. The disclosure for this sale can be found here. Over the last quarter, insiders sold 96,141 shares of company stock worth $14,546,656. 5.21% of the stock is currently owned by insiders.
Shares of LAD traded up $2.86 during mid-day trading on Friday, reaching $159.58. 298,020 shares of the company’s stock were exchanged, compared to its average volume of 246,966. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.18 and a quick ratio of 0.22. The stock has a market capitalization of $3.72 billion, a PE ratio of 15.99, a price-to-earnings-growth ratio of 1.52 and a beta of 1.12. The business’s fifty day simple moving average is $137.80 and its 200-day simple moving average is $125.44. Lithia Motors Inc has a 52-week low of $67.90 and a 52-week high of $162.65.
Lithia Motors (NYSE:LAD) last announced its earnings results on Wednesday, October 23rd. The company reported $3.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.09 by $0.30. Lithia Motors had a net margin of 2.13% and a return on equity of 20.95%. The business had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.25 billion. During the same period last year, the firm posted $2.83 earnings per share. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. Equities research analysts predict that Lithia Motors Inc will post 11.6 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be given a $0.30 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $1.20 dividend on an annualized basis and a yield of 0.75%. Lithia Motors’s dividend payout ratio (DPR) is 12.02%.
About Lithia Motors
Lithia Motors, Inc operates automotive franchises, and retails new and used vehicles in the United States. The company operates in three segments: Domestic, Import, and Luxury. It sells new and used cars, replacement parts, vehicle service contracts, vehicle protection products, and credit insurance products; provides vehicle maintenance, warranty, paint, and repair services; and arranges related financing.
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