Fulton Bank N.A. cut its holdings in shares of Lithia Motors, Inc. (NYSE:LAD – Free Report) by 4.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,296 shares of the company’s stock after selling 200 shares during the period. Fulton Bank N.A.’s holdings in Lithia Motors were worth $1,085,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Norges Bank acquired a new position in shares of Lithia Motors in the 4th quarter valued at $123,976,000. Cadian Capital Management LP acquired a new position in shares of Lithia Motors in the 4th quarter valued at $105,370,000. Wellington Management Group LLP increased its position in shares of Lithia Motors by 413.6% in the 4th quarter. Wellington Management Group LLP now owns 65,142 shares of the company’s stock valued at $21,450,000 after acquiring an additional 52,458 shares during the period. Canada Pension Plan Investment Board increased its position in shares of Lithia Motors by 7.2% in the 1st quarter. Canada Pension Plan Investment Board now owns 727,849 shares of the company’s stock valued at $218,981,000 after acquiring an additional 48,938 shares during the period. Finally, Boston Partners increased its position in shares of Lithia Motors by 67.5% in the 4th quarter. Boston Partners now owns 82,915 shares of the company’s stock valued at $26,734,000 after acquiring an additional 33,405 shares during the period.
Insider Transactions at Lithia Motors
In other news, Director Shauna Mcintyre sold 306 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $289.65, for a total transaction of $88,632.90. Following the completion of the sale, the director now owns 1,922 shares in the company, valued at approximately $556,707.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.79% of the company’s stock.
Lithia Motors Price Performance
Lithia Motors (NYSE:LAD – Get Free Report) last released its quarterly earnings data on Thursday, August 1st. The company reported $7.87 EPS for the quarter, beating analysts’ consensus estimates of $7.09 by $0.78. The company had revenue of $9.23 billion during the quarter, compared to the consensus estimate of $9.29 billion. Lithia Motors had a net margin of 2.52% and a return on equity of 13.81%. Lithia Motors’s quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $10.91 EPS. Equities research analysts expect that Lithia Motors, Inc. will post 27.62 EPS for the current year.
Lithia Motors Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Friday, August 9th will be issued a dividend of $0.53 per share. The ex-dividend date is Friday, August 9th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.76%. Lithia Motors’s dividend payout ratio is currently 6.26%.
Wall Street Analyst Weigh In
Several equities research analysts have weighed in on LAD shares. StockNews.com raised Lithia Motors from a “sell” rating to a “hold” rating in a research report on Monday. JPMorgan Chase & Co. increased their target price on shares of Lithia Motors from $280.00 to $315.00 and gave the stock an “overweight” rating in a research note on Tuesday. Bank of America raised their price target on shares of Lithia Motors from $320.00 to $330.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Guggenheim lowered shares of Lithia Motors from a “buy” rating to a “neutral” rating in a research note on Friday, May 17th. Finally, Craig Hallum decreased their price target on shares of Lithia Motors from $350.00 to $310.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Lithia Motors has a consensus rating of “Hold” and an average target price of $317.40.
Read Our Latest Stock Analysis on Lithia Motors
Lithia Motors Profile
Lithia Motors, Inc operates as an automotive retailer worldwide. It operates in two segments, Vehicle Operations and Financing Operations. The company's Vehicle Operations segment sells new and used vehicles; provides parts, repair, and maintenance services; vehicle finance; and insurance products.
Featured Stories
- Five stocks we like better than Lithia Motors
- Earnings Per Share Calculator: How to Calculate EPS
- Uber’s Earnings Beat: Rideshare and Delivery Surge
- What Are Dividend Champions? How to Invest in the Champions
- Hims & Hers Reports Stellar Quarter: Stock Set for a Rally
- Transportation Stocks Investing
- Cloudflare Stock Flares Up on Solid EPS Beat and Raised Guidance
Want to see what other hedge funds are holding LAD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lithia Motors, Inc. (NYSE:LAD – Free Report).
Receive News & Ratings for Lithia Motors Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lithia Motors and related companies with MarketBeat.com's FREE daily email newsletter.