Northern Trust Corp reduced its holdings in shares of Lithia Motors Inc (NYSE:LAD) by 0.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 310,461 shares of the company’s stock after selling 2,260 shares during the period. Northern Trust Corp owned 1.24% of Lithia Motors worth $31,207,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of LAD. Schwab Charles Investment Management Inc. grew its holdings in Lithia Motors by 4.7% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 173,063 shares of the company’s stock worth $19,659,000 after acquiring an additional 7,840 shares during the period. Teacher Retirement System of Texas grew its holdings in Lithia Motors by 320.6% during the 4th quarter. Teacher Retirement System of Texas now owns 8,256 shares of the company’s stock worth $938,000 after acquiring an additional 6,293 shares during the period. California Public Employees Retirement System grew its holdings in Lithia Motors by 9.1% during the 4th quarter. California Public Employees Retirement System now owns 32,777 shares of the company’s stock worth $3,723,000 after acquiring an additional 2,745 shares during the period. Swiss National Bank grew its holdings in Lithia Motors by 2.8% during the 4th quarter. Swiss National Bank now owns 40,900 shares of the company’s stock worth $4,646,000 after acquiring an additional 1,100 shares during the period. Finally, The Manufacturers Life Insurance Company grew its holdings in Lithia Motors by 2.1% during the 4th quarter. The Manufacturers Life Insurance Company now owns 40,452 shares of the company’s stock worth $4,596,000 after acquiring an additional 836 shares during the period. Hedge funds and other institutional investors own 99.72% of the company’s stock.
A number of analysts have weighed in on LAD shares. Zacks Investment Research downgraded Lithia Motors from a “buy” rating to a “hold” rating in a report on Monday, March 12th. Morgan Stanley raised their target price on Lithia Motors from $116.00 to $126.00 and gave the company an “overweight” rating in a research note on Wednesday, March 14th. ValuEngine downgraded Lithia Motors from a “buy” rating to a “hold” rating in a research note on Monday, April 2nd. Finally, Guggenheim began coverage on Lithia Motors in a research note on Monday, April 16th. They issued a “neutral” rating for the company. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $125.14.
Lithia Motors (NYSE:LAD) last issued its earnings results on Wednesday, April 25th. The company reported $2.07 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.30 by ($0.23). The firm had revenue of $2.66 billion during the quarter, compared to analyst estimates of $2.73 billion. Lithia Motors had a net margin of 2.34% and a return on equity of 20.61%. The business’s quarterly revenue was up 18.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.78 earnings per share. sell-side analysts forecast that Lithia Motors Inc will post 10.58 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, May 25th. Shareholders of record on Friday, May 11th were paid a dividend of $0.29 per share. The ex-dividend date of this dividend was Thursday, May 10th. This represents a $1.16 dividend on an annualized basis and a yield of 1.11%. This is an increase from Lithia Motors’s previous quarterly dividend of $0.27. Lithia Motors’s payout ratio is 13.83%.
In other Lithia Motors news, Director Sidney B. Deboer sold 5,670 shares of Lithia Motors stock in a transaction dated Friday, June 8th. The stock was sold at an average price of $100.12, for a total transaction of $567,680.40. Following the completion of the transaction, the director now owns 1,028 shares in the company, valued at approximately $102,923.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sidney B. Deboer sold 10,000 shares of Lithia Motors stock in a transaction dated Monday, June 11th. The shares were sold at an average price of $102.00, for a total value of $1,020,000.00. Following the transaction, the director now owns 1,028 shares of the company’s stock, valued at approximately $104,856. The disclosure for this sale can be found here. Insiders have sold a total of 91,137 shares of company stock valued at $9,068,480 in the last quarter. Company insiders own 5.95% of the company’s stock.
Lithia Motors 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.
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