Campbell Newman Asset Management Inc. boosted its holdings in shares of Lithia Motors, Inc. (NYSE:LAD) by 5.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,701 shares of the company’s stock after acquiring an additional 139 shares during the quarter. Campbell Newman Asset Management Inc.’s holdings in Lithia Motors were worth $856,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of the stock. State of Alaska Department of Revenue raised its position in shares of Lithia Motors by 10.7% in the second quarter. State of Alaska Department of Revenue now owns 4,621 shares of the company’s stock valued at $1,587,000 after purchasing an additional 448 shares during the period. Avalon Investment & Advisory raised its position in shares of Lithia Motors by 9.5% in the second quarter. Avalon Investment & Advisory now owns 7,954 shares of the company’s stock valued at $2,733,000 after purchasing an additional 690 shares during the period. Great West Life Assurance Co. Can raised its position in shares of Lithia Motors by 11.2% in the second quarter. Great West Life Assurance Co. Can now owns 12,062 shares of the company’s stock valued at $4,145,000 after purchasing an additional 1,210 shares during the period. Cinctive Capital Management LP bought a new position in shares of Lithia Motors in the second quarter valued at approximately $9,321,000. Finally, Wells Fargo & Company MN raised its position in shares of Lithia Motors by 78.5% in the second quarter. Wells Fargo & Company MN now owns 285,850 shares of the company’s stock valued at $98,229,000 after purchasing an additional 125,712 shares during the period. 92.78% of the stock is currently owned by hedge funds and other institutional investors.
In other Lithia Motors news, Director Shauna Mcintyre sold 135 shares of Lithia Motors stock in a transaction on Friday, September 10th. The shares were sold at an average price of $336.13, for a total transaction of $45,377.55. Following the sale, the director now owns 1,883 shares in the company, valued at $632,932.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 3.00% of the stock is owned by insiders.
Lithia Motors (NYSE:LAD) last posted its quarterly earnings results on Tuesday, October 19th. The company reported $11.21 earnings per share for the quarter, topping the Zacks’ consensus estimate of $9.30 by $1.91. Lithia Motors had a net margin of 4.67% and a return on equity of 26.99%. The firm had revenue of $6.17 billion for the quarter, compared to the consensus estimate of $5.75 billion. During the same quarter in the previous year, the company earned $6.89 earnings per share. The business’s revenue was up 70.4% compared to the same quarter last year. Equities research analysts anticipate that Lithia Motors, Inc. will post 38.21 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, November 19th. Shareholders of record on Friday, November 12th were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Wednesday, November 10th. This represents a $1.40 dividend on an annualized basis and a yield of 0.49%. Lithia Motors’s dividend payout ratio is currently 4.16%.
A number of research firms have recently commented on LAD. Seaport Res Ptn reissued a “buy” rating on shares of Lithia Motors in a research report on Friday, October 22nd. Zacks Investment Research lowered shares of Lithia Motors from a “buy” rating to a “hold” rating and set a $346.00 target price on the stock. in a research report on Friday, November 5th. Finally, Morgan Stanley dropped their target price on shares of Lithia Motors from $335.00 to $303.00 and set an “underweight” rating on the stock in a research report on Wednesday, November 17th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $382.00.
Lithia Motors Company Profile
Lithia Motors, Inc engages in the operation of automotive franchises and retail of new and used vehicles. It operates through the following segments: Domestic, Import and Luxury. The Domestic segment comprises of retail automotive franchises that sell new vehicles manufactured by Chrysler, General Motors, and Ford.
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