Lithia Motors, Inc. (NYSE:LAD) Shares Acquired by Ensign Peak Advisors Inc

Ensign Peak Advisors Inc increased its stake in shares of Lithia Motors, Inc. (NYSE:LAD) by 0.2% in the 2nd quarter, HoldingsChannel reports. The firm owned 72,609 shares of the company’s stock after buying an additional 150 shares during the quarter. Ensign Peak Advisors Inc’s holdings in Lithia Motors were worth $18,330,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Goldman Sachs Group Inc. lifted its position in shares of Lithia Motors by 24.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 49,797 shares of the company’s stock valued at $16,397,000 after acquiring an additional 9,818 shares in the last quarter. BNP Paribas Financial Markets raised its stake in Lithia Motors by 132.9% in the 1st quarter. BNP Paribas Financial Markets now owns 19,138 shares of the company’s stock valued at $5,758,000 after purchasing an additional 10,920 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new position in Lithia Motors in the 2nd quarter valued at about $607,000. Comerica Bank boosted its stake in shares of Lithia Motors by 89.0% during the 1st quarter. Comerica Bank now owns 29,473 shares of the company’s stock worth $8,867,000 after purchasing an additional 13,875 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in shares of Lithia Motors by 11.2% during the first quarter. Russell Investments Group Ltd. now owns 203,062 shares of the company’s stock worth $61,318,000 after buying an additional 20,416 shares in the last quarter.

Insider Activity at Lithia Motors

In other news, Director Shauna Mcintyre sold 306 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $289.65, for a total value of $88,632.90. Following the completion of the sale, the director now owns 1,922 shares of the company’s stock, valued at $556,707.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Lithia Motors news, Director Sidney B. Deboer sold 11,938 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $290.86, for a total value of $3,472,286.68. Following the completion of the transaction, the director now directly owns 46,129 shares of the company’s stock, valued at approximately $13,417,080.94. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Shauna Mcintyre sold 306 shares of Lithia Motors stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $289.65, for a total value of $88,632.90. Following the sale, the director now directly owns 1,922 shares in the company, valued at $556,707.30. The disclosure for this sale can be found here. In the last three months, insiders sold 23,021 shares of company stock worth $6,534,617. Corporate insiders own 1.79% of the company’s stock.

Lithia Motors Stock Performance

NYSE LAD opened at $306.94 on Tuesday. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.19 and a quick ratio of 0.30. Lithia Motors, Inc. has a 1-year low of $231.36 and a 1-year high of $331.96. The firm has a market capitalization of $8.41 billion, a P/E ratio of 9.06, a P/E/G ratio of 0.26 and a beta of 1.64. The business’s 50-day simple moving average is $280.73 and its 200-day simple moving average is $271.10.

Lithia Motors (NYSE:LAD) last announced its quarterly earnings results on Thursday, August 1st. The company reported $7.87 earnings per share for the quarter, beating analysts’ consensus estimates of $7.09 by $0.78. Lithia Motors had a net margin of 2.52% and a return on equity of 13.84%. The firm had revenue of $9.23 billion for the quarter, compared to analysts’ expectations of $9.29 billion. During the same period in the previous year, the company posted $10.91 earnings per share. Lithia Motors’s revenue was up 13.8% compared to the same quarter last year. Equities analysts predict that Lithia Motors, Inc. will post 28.89 EPS for the current year.

Lithia Motors Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were given a dividend of $0.53 per share. The ex-dividend date was Friday, August 9th. This represents a $2.12 dividend on an annualized basis and a yield of 0.69%. Lithia Motors’s dividend payout ratio (DPR) is 6.26%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on LAD shares. The Goldman Sachs Group upped their price objective on shares of Lithia Motors from $300.00 to $335.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. raised their price objective on Lithia Motors from $315.00 to $375.00 and gave the stock an “overweight” rating in a report on Tuesday, September 10th. Bank of America upped their target price on Lithia Motors from $320.00 to $330.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. StockNews.com lowered Lithia Motors from a “hold” rating to a “sell” rating in a research note on Tuesday, August 13th. Finally, Stephens assumed coverage on shares of Lithia Motors in a research note on Thursday, September 12th. They set an “overweight” rating and a $360.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Lithia Motors currently has an average rating of “Hold” and a consensus target price of $326.00.

About Lithia Motors

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. Its Financing Operations segment provides financing to customers buying and leasing retail vehicles.