Prudential Financial Inc. Increases Stake in Lithia Motors, Inc. (NYSE:LAD)

Prudential Financial Inc. raised its holdings in shares of Lithia Motors, Inc. (NYSE:LAD) by 11.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 88,111 shares of the company’s stock after acquiring an additional 9,082 shares during the quarter. Prudential Financial Inc. owned approximately 0.37% of Lithia Motors worth $8,302,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Westfield Capital Management Co. LP purchased a new position in Lithia Motors during the 1st quarter valued at about $15,225,000. Engineers Gate Manager LP purchased a new stake in shares of Lithia Motors during the first quarter worth about $231,000. Coe Capital Management LLC grew its holdings in shares of Lithia Motors by 3.2% during the first quarter. Coe Capital Management LLC now owns 7,000 shares of the company’s stock worth $600,000 after buying an additional 220 shares in the last quarter. Ameritas Investment Partners Inc. purchased a new stake in shares of Lithia Motors during the first quarter worth about $176,000. Finally, Municipal Employees Retirement System of Michigan grew its holdings in shares of Lithia Motors by 5.8% during the second quarter. Municipal Employees Retirement System of Michigan now owns 5,640 shares of the company’s stock worth $531,000 after buying an additional 310 shares in the last quarter. Hedge funds and other institutional investors own 98.47% of the company’s stock.

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A number of research firms recently issued reports on LAD. Seaport Global Securities began coverage on shares of Lithia Motors in a report on Wednesday, June 14th. They issued a “neutral” rating for the company. BidaskClub upgraded shares of Lithia Motors from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th. Bank of America Corporation downgraded shares of Lithia Motors from a “neutral” rating to an “underperform” rating and set a $92.00 target price for the company. in a report on Friday, June 16th. Zacks Investment Research upgraded shares of Lithia Motors from a “hold” rating to a “strong-buy” rating and set a $121.00 target price for the company in a report on Wednesday, August 23rd. Finally, Jefferies Group LLC restated a “buy” rating and issued a $115.00 target price on shares of Lithia Motors in a report on Wednesday, June 28th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $112.00.

Lithia Motors, Inc. (LAD) opened at 114.32 on Friday. The firm’s 50-day moving average is $105.78 and its 200-day moving average is $95.31. Lithia Motors, Inc. has a 12 month low of $75.85 and a 12 month high of $114.80. The firm has a market capitalization of $2.86 billion, a PE ratio of 13.78 and a beta of 1.73.

Lithia Motors (NYSE:LAD) last announced its quarterly earnings results on Friday, July 28th. The company reported $2.28 EPS for the quarter, beating the consensus estimate of $2.23 by $0.05. Lithia Motors had a return on equity of 21.66% and a net margin of 2.26%. The company had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.45 billion. During the same quarter last year, the company posted $1.96 earnings per share. The company’s revenue for the quarter was up 15.6% compared to the same quarter last year. On average, equities research analysts expect that Lithia Motors, Inc. will post $8.62 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, August 25th. Shareholders of record on Friday, August 11th were issued a dividend of $0.27 per share. The ex-dividend date was Wednesday, August 9th. This represents a $1.08 annualized dividend and a yield of 0.95%. Lithia Motors’s dividend payout ratio (DPR) is presently 13.01%.

In other news, Director Sidney B. Deboer sold 17,600 shares of the stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $96.63, for a total value of $1,700,688.00. Following the completion of the sale, the director now directly owns 75,068 shares of the company’s stock, valued at $7,253,820.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Sidney B. Deboer sold 13,200 shares of the stock in a transaction that occurred on Wednesday, July 12th. The shares were sold at an average price of $97.50, for a total value of $1,287,000.00. Following the completion of the sale, the director now directly owns 48,668 shares of the company’s stock, valued at $4,745,130. The disclosure for this sale can be found here. In the last quarter, insiders have sold 219,870 shares of company stock worth $22,252,261. Corporate insiders own 7.85% of the company’s stock.

Lithia Motors Company Profile

Lithia Motors, Inc is an operator of automotive franchises and a retailer of new and used vehicles and related services. As of February 28, 2017, it offered 30 brands of new vehicles and all brands of used vehicles in 154 stores in the United States and online at Lithia.com, DCHauto.com and CarboneCars.com.

Institutional Ownership by Quarter for Lithia Motors (NYSE:LAD)

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