Brown Advisory Inc. Grows Stake in Lithia Motors Inc (LAD)
Brown Advisory Inc. lifted its position in shares of Lithia Motors Inc (NYSE:LAD) by 15.4% during the 4th quarter, Holdings Channel reports. The firm owned 5,127 shares of the company’s stock after buying an additional 685 shares during the quarter. Brown Advisory Inc.’s holdings in Lithia Motors were worth $583,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in LAD. Canada Pension Plan Investment Board bought a new stake in shares of Lithia Motors during the third quarter worth about $144,000. Public Employees Retirement System of Ohio grew its holdings in shares of Lithia Motors by 12.7% during the second quarter. Public Employees Retirement System of Ohio now owns 1,806 shares of the company’s stock worth $170,000 after purchasing an additional 204 shares during the last quarter. Contravisory Investment Management Inc. lifted its stake in shares of Lithia Motors by 174.9% in the fourth quarter. Contravisory Investment Management Inc. now owns 1,655 shares of the company’s stock worth $188,000 after acquiring an additional 1,053 shares during the period. Strs Ohio lifted its stake in shares of Lithia Motors by 325.0% in the third quarter. Strs Ohio now owns 1,700 shares of the company’s stock worth $204,000 after acquiring an additional 1,300 shares during the period. Finally, Intrust Bank NA acquired a new position in shares of Lithia Motors in the third quarter worth approximately $231,000. Institutional investors own 99.33% of the company’s stock.
In other Lithia Motors news, Director Kenneth E. Roberts sold 534 shares of the business’s stock in a transaction that occurred on Tuesday, December 5th. The stock was sold at an average price of $122.62, for a total value of $65,479.08. Following the transaction, the director now directly owns 115,064 shares of the company’s stock, valued at $14,109,147.68. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kenneth E. Roberts sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, January 8th. The shares were sold at an average price of $124.00, for a total value of $620,000.00. Following the completion of the transaction, the director now directly owns 110,064 shares in the company, valued at $13,647,936. The disclosure for this sale can be found here. Over the last three months, insiders sold 10,534 shares of company stock worth $1,315,479. Insiders own 7.85% of the company’s stock.
Lithia Motors (NYSE:LAD) last issued its quarterly earnings results on Wednesday, February 14th. The company reported $2.15 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.09 by $0.06. Lithia Motors had a return on equity of 20.81% and a net margin of 2.43%. The firm had revenue of $2.70 billion for the quarter, compared to analyst estimates of $2.70 billion. During the same period in the previous year, the firm earned $1.86 earnings per share. The company’s revenue was up 18.0% compared to the same quarter last year. analysts predict that Lithia Motors Inc will post 10.31 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 23rd. Shareholders of record on Friday, March 9th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.05%. The ex-dividend date is Thursday, March 8th. Lithia Motors’s dividend payout ratio (DPR) is presently 11.07%.
A number of equities analysts recently commented on LAD shares. Stephens reaffirmed a “buy” rating on shares of Lithia Motors in a research note on Thursday, February 15th. Buckingham Research cut their price objective on Lithia Motors from $137.00 to $131.00 and set a “buy” rating on the stock in a research note on Thursday, February 15th. KeyCorp reaffirmed a “buy” rating and issued a $130.00 price objective on shares of Lithia Motors in a research note on Monday, November 13th. Zacks Investment Research raised Lithia Motors from a “sell” rating to a “hold” rating in a research note on Tuesday, December 26th. Finally, Bank of America raised Lithia Motors from an “underperform” rating to a “neutral” rating and set a $128.00 price objective on the stock in a research note on Monday, January 8th. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Lithia Motors presently has an average rating of “Buy” and a consensus target price of $127.86.
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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.
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