Intech Investment Management LLC Boosts Holdings in Lithia Motors, Inc. $LAD

Intech Investment Management LLC increased its holdings in Lithia Motors, Inc. (NYSE:LAD) by 140.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,396 shares of the company’s stock after buying an additional 6,661 shares during the quarter. Intech Investment Management LLC’s holdings in Lithia Motors were worth $3,787,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Abrams Capital Management L.P. boosted its holdings in shares of Lithia Motors by 1.9% in the third quarter. Abrams Capital Management L.P. now owns 2,490,534 shares of the company’s stock worth $787,009,000 after buying an additional 45,856 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Lithia Motors by 1.1% during the third quarter. Dimensional Fund Advisors LP now owns 1,340,670 shares of the company’s stock valued at $423,662,000 after purchasing an additional 14,015 shares in the last quarter. Canada Pension Plan Investment Board lifted its holdings in Lithia Motors by 5.9% during the second quarter. Canada Pension Plan Investment Board now owns 612,377 shares of the company’s stock valued at $206,873,000 after purchasing an additional 33,966 shares in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its holdings in Lithia Motors by 3.6% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 426,120 shares of the company’s stock valued at $134,654,000 after purchasing an additional 14,781 shares in the last quarter. Finally, Bridges Investment Management Inc. lifted its holdings in Lithia Motors by 3.0% during the third quarter. Bridges Investment Management Inc. now owns 263,157 shares of the company’s stock valued at $83,158,000 after purchasing an additional 7,558 shares in the last quarter.

Insider Buying and Selling at Lithia Motors

In related news, Director Richard J. Bailey, Jr. sold 297 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $280.57, for a total value of $83,329.29. Following the sale, the director owned 760 shares in the company, valued at approximately $213,233.20. The trade was a 28.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Shauna Mcintyre sold 245 shares of the business’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $294.64, for a total transaction of $72,186.80. Following the completion of the sale, the director owned 1,846 shares in the company, valued at $543,905.44. This represents a 11.72% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 617 shares of company stock worth $174,966 in the last 90 days. 1.08% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

LAD has been the topic of several analyst reports. Zacks Research raised shares of Lithia Motors from a “strong sell” rating to a “hold” rating in a report on Thursday, April 23rd. UBS Group initiated coverage on shares of Lithia Motors in a report on Wednesday, May 27th. They set a “buy” rating and a $348.00 price target on the stock. Wall Street Zen raised shares of Lithia Motors from a “sell” rating to a “hold” rating in a report on Saturday. Wells Fargo & Company lifted their price target on shares of Lithia Motors from $293.00 to $305.00 and gave the company an “equal weight” rating in a report on Thursday, April 30th. Finally, Bank of America lowered their price target on shares of Lithia Motors from $335.00 to $320.00 in a report on Monday, April 13th. Seven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Lithia Motors currently has a consensus rating of “Moderate Buy” and a consensus price target of $365.30.

Lithia Motors Trading Up 0.9%

Lithia Motors stock opened at $293.54 on Tuesday. The stock has a market cap of $6.70 billion, a P/E ratio of 10.31, a PEG ratio of 0.64 and a beta of 1.26. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.99 and a quick ratio of 0.24. Lithia Motors, Inc. has a 1 year low of $239.78 and a 1 year high of $360.55. The firm’s 50 day moving average price is $272.31 and its 200-day moving average price is $298.60.

Lithia Motors (NYSE:LAD) last released its quarterly earnings data on Wednesday, April 29th. The company reported $7.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.06 by $0.28. The firm had revenue of $9.27 billion for the quarter, compared to analysts’ expectations of $9.22 billion. Lithia Motors had a net margin of 1.88% and a return on equity of 12.49%. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter last year, the business posted $7.66 earnings per share. On average, equities analysts predict that Lithia Motors, Inc. will post 34.26 earnings per share for the current fiscal year.

Lithia Motors announced that its Board of Directors has authorized a stock repurchase program on Tuesday, May 26th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 7.9% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Lithia Motors Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Friday, May 8th were given a $0.57 dividend. This is a boost from Lithia Motors’s previous quarterly dividend of $0.55. This represents a $2.28 annualized dividend and a yield of 0.8%. The ex-dividend date was Friday, May 8th. Lithia Motors’s dividend payout ratio (DPR) is presently 8.01%.

Lithia Motors Company Profile

Lithia Motors, Inc is an American automotive retailer headquartered in Medford, Oregon. Founded in 1946 as a small auto body and glass shop, the company has grown through organic expansion and strategic acquisitions to become one of the largest automotive retail networks in North America. Lithia operates dealerships across the United States and Canada, offering a broad portfolio of new and pre-owned vehicles from more than 40 different manufacturers.

The company’s core business activities include vehicle sales, financing, insurance, parts and service.