Lithia Motors, Inc. $LAD Shares Purchased by Bridges Investment Management Inc.

Bridges Investment Management Inc. boosted its holdings in Lithia Motors, Inc. (NYSE:LAD) by 8.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 284,325 shares of the company’s stock after buying an additional 21,168 shares during the quarter. Lithia Motors accounts for about 1.2% of Bridges Investment Management Inc.’s investment portfolio, making the stock its 24th largest position. Bridges Investment Management Inc.’s holdings in Lithia Motors were worth $94,490,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in LAD. Norges Bank acquired a new stake in shares of Lithia Motors during the 4th quarter valued at $125,214,000. Life Cycle Investment Partners Ltd acquired a new stake in shares of Lithia Motors during the 4th quarter valued at about $58,409,000. Hook Mill Capital Partners LP acquired a new stake in shares of Lithia Motors during the 3rd quarter valued at about $29,130,000. Bank of America Corp DE lifted its holdings in shares of Lithia Motors by 57.5% during the 2nd quarter. Bank of America Corp DE now owns 197,417 shares of the company’s stock valued at $66,691,000 after buying an additional 72,061 shares during the last quarter. Finally, Marshall Wace LLP lifted its holdings in shares of Lithia Motors by 6,341.6% during the 3rd quarter. Marshall Wace LLP now owns 57,459 shares of the company’s stock valued at $18,157,000 after buying an additional 56,567 shares during the last quarter.

Lithia Motors Stock Up 0.7%

Shares of LAD stock opened at $295.71 on Wednesday. Lithia Motors, Inc. has a 12 month low of $239.78 and a 12 month high of $360.55. The firm has a market cap of $6.75 billion, a PE ratio of 10.38, a price-to-earnings-growth ratio of 0.65 and a beta of 1.26. The stock has a 50 day moving average of $272.31 and a 200-day moving average of $298.60. The company has a quick ratio of 0.24, a current ratio of 0.99 and a debt-to-equity ratio of 1.41.

Lithia Motors (NYSE:LAD) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $7.34 earnings per share for the quarter, topping the consensus estimate of $7.06 by $0.28. Lithia Motors had a return on equity of 12.49% and a net margin of 1.88%.The company had revenue of $9.27 billion for the quarter, compared to analyst estimates of $9.22 billion. During the same quarter last year, the firm earned $7.66 EPS. Lithia Motors’s revenue for the quarter was up 1.0% compared to the same quarter last year. On average, equities analysts predict that Lithia Motors, Inc. will post 34.37 EPS for the current year.

Lithia Motors Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Friday, May 8th were issued a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Friday, May 8th. This is an increase from Lithia Motors’s previous quarterly dividend of $0.55. Lithia Motors’s dividend payout ratio (DPR) is presently 8.01%.

Lithia Motors announced that its Board of Directors has approved a stock repurchase program on Tuesday, May 26th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 7.9% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on LAD. Bank of America reduced their target price on shares of Lithia Motors from $335.00 to $320.00 in a research note on Monday, April 13th. Wall Street Zen upgraded shares of Lithia Motors from a “sell” rating to a “hold” rating in a research note on Saturday. Barclays reduced their target price on shares of Lithia Motors from $380.00 to $370.00 and set an “overweight” rating for the company in a research note on Tuesday, April 7th. Weiss Ratings cut shares of Lithia Motors from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 4th. Finally, Wells Fargo & Company increased their price target on Lithia Motors from $293.00 to $305.00 and gave the company an “equal weight” rating in a report on Thursday, April 30th. Seven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $368.11.

Insider Activity at Lithia Motors

In other Lithia Motors news, Director Richard J. Bailey, Jr. sold 297 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $280.57, for a total value of $83,329.29. Following the transaction, the director directly owned 760 shares in the company, valued at approximately $213,233.20. This trade represents a 28.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Shauna Mcintyre sold 245 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $294.64, for a total transaction of $72,186.80. Following the completion of the transaction, the director owned 1,846 shares in the company, valued at $543,905.44. This represents a 11.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 617 shares of company stock worth $174,966 over the last three months. 1.08% of the stock is owned by company insiders.

Lithia Motors Profile

Lithia Motors, Inc is an American automotive retailer headquartered in Medford, Oregon. Founded in 1946 as a small auto body and glass shop, the company has grown through organic expansion and strategic acquisitions to become one of the largest automotive retail networks in North America. Lithia operates dealerships across the United States and Canada, offering a broad portfolio of new and pre-owned vehicles from more than 40 different manufacturers.

The company’s core business activities include vehicle sales, financing, insurance, parts and service.