Haverford Trust Co Decreases Stock Position in Lithia Motors, Inc. (NYSE:LAD)

Haverford Trust Co lessened its holdings in shares of Lithia Motors, Inc. (NYSE:LAD) by 8.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 912 shares of the company’s stock after selling 87 shares during the period. Haverford Trust Co’s holdings in Lithia Motors were worth $290,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Barrow Hanley Mewhinney & Strauss LLC increased its position in Lithia Motors by 14.7% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,700,893 shares of the company’s stock valued at $429,390,000 after purchasing an additional 217,867 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Lithia Motors by 25.0% during the second quarter. Dimensional Fund Advisors LP now owns 1,016,520 shares of the company’s stock valued at $256,621,000 after buying an additional 203,543 shares during the period. Bridges Investment Management Inc. raised its stake in Lithia Motors by 118.9% in the second quarter. Bridges Investment Management Inc. now owns 160,860 shares of the company’s stock worth $40,609,000 after buying an additional 87,362 shares in the last quarter. River Road Asset Management LLC boosted its position in Lithia Motors by 27.5% during the 3rd quarter. River Road Asset Management LLC now owns 365,184 shares of the company’s stock valued at $115,997,000 after acquiring an additional 78,784 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its holdings in shares of Lithia Motors by 7.2% during the 1st quarter. Canada Pension Plan Investment Board now owns 727,849 shares of the company’s stock worth $218,981,000 after acquiring an additional 48,938 shares during the period.

Lithia Motors Stock Performance

Shares of NYSE:LAD opened at $372.58 on Friday. The firm has a 50 day moving average of $317.87 and a 200 day moving average of $284.37. The company has a quick ratio of 0.27, a current ratio of 1.18 and a debt-to-equity ratio of 1.23. The company has a market capitalization of $9.92 billion, a price-to-earnings ratio of 12.72 and a beta of 1.63. Lithia Motors, Inc. has a 52 week low of $243.00 and a 52 week high of $388.36.

Lithia Motors (NYSE:LAD) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $8.21 EPS for the quarter, beating analysts’ consensus estimates of $7.60 by $0.61. Lithia Motors had a return on equity of 12.95% and a net margin of 2.31%. The company had revenue of $9.22 billion during the quarter, compared to analysts’ expectations of $9.46 billion. During the same period last year, the business posted $9.25 earnings per share. The firm’s revenue was up 11.4% compared to the same quarter last year. On average, sell-side analysts predict that Lithia Motors, Inc. will post 29.09 earnings per share for the current fiscal year.

Lithia Motors Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 8th will be issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date of this dividend is Friday, November 8th. Lithia Motors’s dividend payout ratio (DPR) is presently 7.24%.

Insiders Place Their Bets

In other Lithia Motors news, CEO Bryan B. Deboer sold 3,313 shares of the firm’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $380.00, for a total value of $1,258,940.00. Following the completion of the sale, the chief executive officer now directly owns 192,814 shares of the company’s stock, valued at $73,269,320. This trade represents a 1.69 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Sidney B. Deboer sold 11,938 shares of Lithia Motors stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $290.86, for a total value of $3,472,286.68. Following the transaction, the director now owns 46,129 shares in the company, valued at approximately $13,417,080.94. This represents a 20.56 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 50,394 shares of company stock worth $16,688,879. 1.79% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on LAD shares. StockNews.com upgraded Lithia Motors from a “sell” rating to a “hold” rating in a research note on Tuesday. JPMorgan Chase & Co. raised their price objective on Lithia Motors from $375.00 to $405.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Bank of America upped their target price on shares of Lithia Motors from $320.00 to $330.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Citigroup lifted their price target on shares of Lithia Motors from $280.00 to $320.00 and gave the company a “neutral” rating in a research report on Friday, September 27th. Finally, Guggenheim boosted their price target on Lithia Motors from $350.00 to $380.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $353.80.

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.