Lithia Motors, Inc. (NYSE:LAD) Shares Bought by Retirement Systems of Alabama

Retirement Systems of Alabama grew its position in Lithia Motors, Inc. (NYSE:LAD) by 46.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,984 shares of the company’s stock after purchasing an additional 24,258 shares during the period. Retirement Systems of Alabama’s holdings in Lithia Motors were worth $24,136,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of LAD. Blue Trust Inc. boosted its position in Lithia Motors by 83.6% during the 2nd quarter. Blue Trust Inc. now owns 134 shares of the company’s stock worth $34,000 after purchasing an additional 61 shares during the period. V Square Quantitative Management LLC purchased a new stake in shares of Lithia Motors during the 3rd quarter valued at about $35,000. McClarren Financial Advisors Inc. lifted its position in Lithia Motors by 12,500.0% during the 2nd quarter. McClarren Financial Advisors Inc. now owns 252 shares of the company’s stock worth $64,000 after acquiring an additional 250 shares in the last quarter. Signaturefd LLC boosted its holdings in Lithia Motors by 23.9% in the 3rd quarter. Signaturefd LLC now owns 249 shares of the company’s stock worth $79,000 after acquiring an additional 48 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Lithia Motors in the second quarter valued at approximately $80,000.

Lithia Motors Price Performance

Shares of LAD opened at $380.57 on Friday. Lithia Motors, Inc. has a 52 week low of $243.00 and a 52 week high of $405.67. The company has a current ratio of 1.18, a quick ratio of 0.27 and a debt-to-equity ratio of 1.23. The firm has a market cap of $10.14 billion, a price-to-earnings ratio of 12.99, a PEG ratio of 6.25 and a beta of 1.65. The stock has a 50 day moving average of $353.97 and a 200-day moving average of $302.07.

Lithia Motors (NYSE:LAD) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $8.21 EPS for the quarter, topping analysts’ consensus estimates of $7.60 by $0.61. The firm had revenue of $9.22 billion during the quarter, compared to the consensus estimate of $9.46 billion. Lithia Motors had a net margin of 2.31% and a return on equity of 12.95%. The firm’s revenue was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $9.25 earnings per share. As a group, analysts forecast that Lithia Motors, Inc. will post 29.42 EPS for the current year.

Lithia Motors Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 8th were paid a dividend of $0.53 per share. The ex-dividend date was Friday, November 8th. This represents a $2.12 annualized dividend and a yield of 0.56%. Lithia Motors’s dividend payout ratio (DPR) is 7.24%.

Insiders Place Their Bets

In other Lithia Motors news, CFO Tina Miller sold 1,000 shares of the stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $392.72, for a total value of $392,720.00. Following the sale, the chief financial officer now directly owns 10,403 shares of the company’s stock, valued at $4,085,466.16. This trade represents a 8.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Chris Holzshu sold 8,520 shares of the firm’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $335.21, for a total value of $2,855,989.20. Following the completion of the sale, the chief operating officer now owns 32,054 shares in the company, valued at $10,744,821.34. The trade was a 21.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 47,290 shares of company stock valued at $17,959,596 over the last quarter. Insiders own 1.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on LAD. Guggenheim boosted their target price on shares of Lithia Motors from $380.00 to $418.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. StockNews.com raised shares of Lithia Motors from a “sell” rating to a “hold” rating in a research report on Friday, November 29th. Citigroup lifted their target price on Lithia Motors from $280.00 to $320.00 and gave the stock a “neutral” rating in a research report on Friday, September 27th. Wells Fargo & Company increased their price target on Lithia Motors from $299.00 to $343.00 and gave the company an “equal weight” rating in a report on Thursday, October 24th. Finally, Stephens lifted their price objective on Lithia Motors from $360.00 to $405.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $357.60.

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