Neuberger Berman Group LLC boosted its position in Lithia Motors Inc. (NYSE:LAD) by 34.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,361,023 shares of the company’s stock after buying an additional 348,048 shares during the period. Neuberger Berman Group LLC owned approximately 5.38% of Lithia Motors worth $130,005,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. PineBridge Investments L.P. boosted its position in Lithia Motors by 7.0% in the second quarter. PineBridge Investments L.P. now owns 3,022 shares of the company’s stock valued at $214,000 after buying an additional 197 shares in the last quarter. Louisiana State Employees Retirement System boosted its position in Lithia Motors by 2.9% in the second quarter. Louisiana State Employees Retirement System now owns 10,600 shares of the company’s stock valued at $753,000 after buying an additional 300 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in Lithia Motors by 31.3% in the first quarter. Envestnet Asset Management Inc. now owns 15,724 shares of the company’s stock valued at $1,373,000 after buying an additional 3,746 shares in the last quarter. Royal Bank of Canada boosted its position in Lithia Motors by 28.9% in the first quarter. Royal Bank of Canada now owns 266,506 shares of the company’s stock valued at $23,274,000 after buying an additional 59,698 shares in the last quarter. Finally, BB&T Securities LLC bought a new position in Lithia Motors during the second quarter valued at about $434,000. Hedge funds and other institutional investors own 92.35% of the company’s stock.
Shares of Lithia Motors Inc. (NYSE:LAD) traded up 1.15% during mid-day trading on Friday, reaching $92.53. 139,293 shares of the company’s stock traded hands. The firm has a market cap of $2.33 billion, a price-to-earnings ratio of 12.34 and a beta of 1.64. Lithia Motors Inc. has a 52 week low of $68.70 and a 52 week high of $126.56. The company’s 50 day moving average is $87.77 and its 200-day moving average is $83.47.
Lithia Motors (NYSE:LAD) last announced its quarterly earnings data on Thursday, October 20th. The company reported $2.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.16 by $0.10. Lithia Motors had a net margin of 2.31% and a return on equity of 22.67%. The business earned $2.38 billion during the quarter, compared to the consensus estimate of $2.25 billion. During the same period in the previous year, the business posted $2.03 earnings per share. Lithia Motors’s revenue was up 8.9% compared to the same quarter last year. Equities analysts expect that Lithia Motors Inc. will post $7.45 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 25th. Shareholders of record on Friday, November 11th will be paid a $0.25 dividend. The ex-dividend date is Tuesday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 1.08%. Lithia Motors’s payout ratio is presently 13.33%.
LAD has been the topic of several research reports. Wolfe Research initiated coverage on Lithia Motors in a report on Wednesday, August 31st. They issued an “outperform” rating on the stock. Zacks Investment Research raised Lithia Motors from a “hold” rating to a “buy” rating and set a $105.00 price target on the stock in a report on Tuesday, October 4th. KeyCorp initiated coverage on Lithia Motors in a report on Wednesday, November 16th. They issued an “overweight” rating on the stock. Finally, Stephens set a $114.00 price target on Lithia Motors and gave the company a “buy” rating in a report on Friday, October 21st. Six equities research analysts have rated the stock with a buy rating, The stock presently has an average rating of “Buy” and an average target price of $111.20.
In other Lithia Motors news, Director Sidney B. Deboer sold 17,600 shares of the firm’s stock in a transaction that occurred on Friday, September 30th. The shares were sold at an average price of $95.00, for a total value of $1,672,000.00. Following the transaction, the director now directly owns 138,077 shares of the company’s stock, valued at $13,117,315. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 11.41% of the stock is currently owned by company insiders.
Lithia Motors Company Profile