Lithia Motors, Inc. (NYSE:LAD) Stock Holdings Boosted by Bridges Investment Management Inc.

Bridges Investment Management Inc. raised its position in shares of Lithia Motors, Inc. (NYSE:LAD) by 5.0% in the first quarter, HoldingsChannel reports. The firm owned 241,420 shares of the company’s stock after acquiring an additional 11,500 shares during the period. Lithia Motors makes up 1.0% of Bridges Investment Management Inc.’s investment portfolio, making the stock its 28th largest position. Bridges Investment Management Inc.’s holdings in Lithia Motors were worth $70,866,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its stake in shares of Lithia Motors by 2.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,194,539 shares of the company’s stock worth $426,968,000 after purchasing an additional 27,035 shares in the last quarter. Lyrical Asset Management LP boosted its position in shares of Lithia Motors by 2.3% during the 4th quarter. Lyrical Asset Management LP now owns 510,388 shares of the company’s stock valued at $182,428,000 after purchasing an additional 11,674 shares in the last quarter. Steadfast Capital Management LP boosted its holdings in Lithia Motors by 137.8% during the fourth quarter. Steadfast Capital Management LP now owns 460,298 shares of the company’s stock worth $164,524,000 after buying an additional 266,715 shares in the last quarter. Norges Bank bought a new position in shares of Lithia Motors in the fourth quarter valued at $152,752,000. Finally, Royal London Asset Management Ltd. lifted its position in shares of Lithia Motors by 18.0% during the 4th quarter. Royal London Asset Management Ltd. now owns 362,022 shares of the company’s stock valued at $129,398,000 after acquiring an additional 55,142 shares during the last quarter.

Insider Buying and Selling at Lithia Motors

In other Lithia Motors news, Director Shauna Mcintyre sold 337 shares of the business’s stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $295.94, for a total value of $99,731.78. Following the transaction, the director owned 1,632 shares of the company’s stock, valued at approximately $482,974.08. The trade was a 17.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.87% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on LAD. Wells Fargo & Company upped their target price on Lithia Motors from $305.00 to $364.00 and gave the company an “equal weight” rating in a report on Wednesday. Guggenheim cut their price target on shares of Lithia Motors from $417.00 to $356.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. The Goldman Sachs Group assumed coverage on shares of Lithia Motors in a research note on Tuesday, June 3rd. They issued a “neutral” rating and a $340.00 price objective for the company. Citigroup upgraded Lithia Motors from a “neutral” rating to a “buy” rating and reduced their target price for the company from $415.00 to $375.00 in a report on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. dropped their price target on Lithia Motors from $420.00 to $360.00 and set an “overweight” rating on the stock in a research report on Thursday, March 27th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $385.00.

Lithia Motors Stock Up 1.2%

NYSE:LAD traded up $4.19 during trading hours on Wednesday, reaching $349.79. The company’s stock had a trading volume of 10,774 shares, compared to its average volume of 334,237. Lithia Motors, Inc. has a one year low of $243.31 and a one year high of $405.67. The business’s 50-day moving average is $322.40 and its 200-day moving average is $327.49. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.18 and a quick ratio of 0.31. The company has a market cap of $9.10 billion, a price-to-earnings ratio of 11.02, a price-to-earnings-growth ratio of 0.56 and a beta of 1.46.

Lithia Motors (NYSE:LAD) last announced its quarterly earnings results on Wednesday, April 23rd. The company reported $7.66 EPS for the quarter, missing the consensus estimate of $7.77 by ($0.11). The company had revenue of $9.18 billion for the quarter, compared to analyst estimates of $9.19 billion. Lithia Motors had a net margin of 2.30% and a return on equity of 12.74%. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter last year, the business earned $6.11 EPS. Equities research analysts predict that Lithia Motors, Inc. will post 34.45 EPS for the current year.

Lithia Motors Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 9th were issued a $0.55 dividend. This is a boost from Lithia Motors’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Friday, May 9th. This represents a $2.20 annualized dividend and a yield of 0.63%. Lithia Motors’s dividend payout ratio is 6.93%.

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