Haverford Financial Services Inc. Decreases Stake in Lithia Motors Inc (NYSE:LAD)

Haverford Financial Services Inc. lowered its position in shares of Lithia Motors Inc (NYSE:LAD) by 13.6% in the third quarter, Holdings Channel reports. The firm owned 9,549 shares of the company’s stock after selling 1,500 shares during the period. Haverford Financial Services Inc.’s holdings in Lithia Motors were worth $1,264,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the company. BlackRock Inc. grew its holdings in shares of Lithia Motors by 6.4% during the 2nd 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 during the period. JPMorgan Chase & Co. grew its holdings in shares of Lithia Motors by 15.6% during the 2nd 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 during the period. Bank of New York Mellon Corp grew its holdings in shares of Lithia Motors by 4.6% during the 2nd 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 during the period. Northern Trust Corp grew its holdings in shares of Lithia Motors by 9.2% during the 2nd 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 during the period. Finally, Bank of America Corp DE grew its holdings in shares of Lithia Motors by 104.3% during the 2nd 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 during the period.

NYSE LAD traded up $2.86 on Friday, reaching $159.58. The company had a trading volume of 298,020 shares, compared to its average volume of 246,966. The firm has a market capitalization of $3.72 billion, a PE ratio of 15.99, a P/E/G ratio of 1.52 and a beta of 1.12. Lithia Motors Inc has a 1 year low of $67.90 and a 1 year high of $162.65. The firm has a 50-day moving average of $137.80 and a 200-day moving average of $125.44. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.18 and a quick ratio of 0.22.

Lithia Motors (NYSE:LAD) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $3.39 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.09 by $0.30. The firm had revenue of $3.33 billion during the quarter, compared to analysts’ expectations of $3.25 billion. Lithia Motors had a return on equity of 20.95% and a net margin of 2.13%. Lithia Motors’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.83 EPS. As a group, sell-side analysts expect that Lithia Motors Inc will post 11.6 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date is Thursday, November 7th. Lithia Motors’s payout ratio is 12.02%.

A number of brokerages have recently issued reports on LAD. Morgan Stanley boosted their target price on Lithia Motors from $144.00 to $151.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th. Guggenheim boosted their target price on Lithia Motors from $147.00 to $171.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Craig Hallum boosted their target price on 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 Lithia Motors from a “neutral” rating to an “underperform” rating in a report on Friday, September 13th. Finally, ValuEngine upgraded Lithia Motors from a “sell” rating to a “hold” rating in a report on Friday, October 25th. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company. Lithia Motors presently has a consensus rating of “Buy” and an average price target of $135.30.

In other Lithia Motors news, Director Kenneth E. Roberts sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was 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 of the company’s stock, valued at approximately $13,678,727.81. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Sidney B. Deboer sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $152.00, for a total value of $2,280,000.00. Following the completion of the transaction, the director now directly owns 19,614 shares in the company, valued at $2,981,328. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 96,141 shares of company stock worth $14,546,656. 5.21% of the stock is currently owned by corporate insiders.

Lithia Motors Company Profile

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.

Further Reading: Momentum Indicators

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Institutional Ownership by Quarter for Lithia Motors (NYSE:LAD)

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