Northern Trust Corp increased its stake in Lithia Motors, Inc. (NYSE:LAD) by 2.7% during the second quarter, according to its most recent filing with the SEC. The fund owned 322,984 shares of the company’s stock after buying an additional 8,352 shares during the quarter. Northern Trust Corp owned 1.34% of Lithia Motors worth $30,436,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of the stock. D.A. Davidson & CO. lifted its holdings in Lithia Motors by 7.3% during the second quarter. D.A. Davidson & CO. now owns 1,104 shares of the company’s stock valued at $104,000 after purchasing an additional 75 shares during the last quarter. Pinebridge Investments L.P. lifted its holdings in Lithia Motors by 783.6% during the second quarter. Pinebridge Investments L.P. now owns 27,558 shares of the company’s stock valued at $2,597,000 after purchasing an additional 24,439 shares during the last quarter. Menta Capital LLC purchased a new stake in Lithia Motors during the second quarter valued at about $217,000. Columbia Partners L L C Investment Management purchased a new stake in Lithia Motors during the second quarter valued at about $1,241,000. Finally, Thrivent Financial For Lutherans lifted its holdings in Lithia Motors by 0.9% during the second quarter. Thrivent Financial For Lutherans now owns 87,906 shares of the company’s stock valued at $8,284,000 after purchasing an additional 780 shares during the last quarter. 98.47% of the stock is currently owned by institutional investors.
In related news, Director Kenneth E. Roberts sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 26th. The stock was sold at an average price of $118.00, for a total value of $590,000.00. Following the transaction, the director now directly owns 130,598 shares of the company’s stock, valued at approximately $15,410,564. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Sidney B. Deboer sold 65,711 shares of the business’s stock in a transaction that occurred on Tuesday, October 3rd. The stock was sold at an average price of $121.77, for a total value of $8,001,628.47. Following the completion of the transaction, the director now directly owns 1,421 shares in the company, valued at $173,035.17. The disclosure for this sale can be found here. Over the last three months, insiders sold 146,581 shares of company stock worth $17,011,362. 7.85% of the stock is owned by insiders.
LAD has been the topic of several recent research reports. KeyCorp reaffirmed a “buy” rating and set a $130.00 price objective (up from $119.00) on shares of Lithia Motors in a report on Wednesday, October 4th. Jefferies Group LLC reaffirmed a “buy” rating and set a $125.00 price objective on shares of Lithia Motors in a report on Thursday, August 3rd. BidaskClub upgraded Lithia Motors from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. Zacks Investment Research cut Lithia Motors from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 10th. Finally, Berenberg Bank initiated coverage on Lithia Motors in a research report on Wednesday, October 4th. They set a “hold” rating and a $126.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $116.29.
Lithia Motors, Inc. (NYSE:LAD) opened at 112.73 on Friday. The company has a market capitalization of $2.82 billion, a PE ratio of 13.59 and a beta of 1.71. Lithia Motors, Inc. has a 52-week low of $75.85 and a 52-week high of $123.50. The company has a 50 day moving average of $115.33 and a 200 day moving average of $100.54.
Lithia Motors (NYSE:LAD) last posted its quarterly earnings results on Wednesday, October 25th. The company reported $2.18 EPS for the quarter, missing the Zacks’ consensus estimate of $2.37 by ($0.19). Lithia Motors had a return on equity of 21.47% and a net margin of 2.14%. The business had revenue of $2.69 billion during the quarter, compared to analysts’ expectations of $2.62 billion. During the same period in the prior year, the firm posted $2.06 earnings per share. The firm’s revenue for the quarter was up 18.7% on a year-over-year basis. On average, equities research analysts forecast that Lithia Motors, Inc. will post $8.37 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 24th. Investors of record on Friday, November 10th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $1.08 dividend on an annualized basis and a yield of 0.96%. Lithia Motors’s dividend payout ratio is presently 13.12%.
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Lithia Motors Profile
Lithia Motors, Inc is an operator of automotive franchises and a retailer of new and used vehicles and related services. As of February 28, 2017, it offered 30 brands of new vehicles and all brands of used vehicles in 154 stores in the United States and online at Lithia.com, DCHauto.com and CarboneCars.com.
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