Lithia Motors, Inc. (LAD) Shares Sold by Wesbanco Bank Inc.
Wesbanco Bank Inc. reduced its holdings in Lithia Motors, Inc. (NYSE:LAD) by 14.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 18,767 shares of the company’s stock after selling 3,233 shares during the quarter. Wesbanco Bank Inc. owned about 0.08% of Lithia Motors worth $2,258,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of LAD. D.A. Davidson & CO. grew its position in shares of Lithia Motors by 7.3% in the second quarter. D.A. Davidson & CO. now owns 1,104 shares of the company’s stock valued at $104,000 after purchasing an additional 75 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Lithia Motors by 9.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,198 shares of the company’s stock valued at $113,000 after purchasing an additional 105 shares during the last quarter. Public Employees Retirement System of Ohio grew its position in shares of Lithia Motors by 10.0% in the first quarter. Public Employees Retirement System of Ohio now owns 1,602 shares of the company’s stock valued at $137,000 after purchasing an additional 146 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of Lithia Motors in the third quarter valued at about $144,000. Finally, Brighton Jones LLC acquired a new stake in shares of Lithia Motors in the second quarter valued at about $201,000. 98.47% of the stock is currently owned by institutional investors.
In other news, Director Sidney B. Deboer sold 65,711 shares of the stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $121.77, for a total value of $8,001,628.47. Following the completion of the sale, the director now owns 1,421 shares in the company, valued at $173,035.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas R. Becker sold 1,031 shares of the stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $107.10, for a total value of $110,420.10. Following the completion of the sale, the director now owns 65,704 shares of the company’s stock, valued at approximately $7,036,898.40. The disclosure for this sale can be found here. Insiders sold 145,581 shares of company stock valued at $16,905,722 in the last 90 days. Corporate insiders own 7.85% of the company’s stock.
Several equities research analysts have recently issued reports on LAD shares. Jefferies Group LLC reaffirmed a “buy” rating and issued a $125.00 price target on shares of Lithia Motors in a research report on Thursday, August 3rd. KeyCorp reaffirmed a “buy” rating and issued a $130.00 price target (up from $119.00) on shares of Lithia Motors in a research report on Wednesday, October 4th. Zacks Investment Research downgraded Lithia Motors from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 10th. Berenberg Bank started coverage on Lithia Motors in a research report on Wednesday, October 4th. They issued a “hold” rating and a $126.00 price target on the stock. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $116.00 price target (up from $106.00) on shares of Lithia Motors in a research report on Wednesday, August 2nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $116.29.
Lithia Motors, Inc. (NYSE:LAD) traded up $0.32 during midday trading on Tuesday, hitting $116.43. 124,114 shares of the company traded hands, compared to its average volume of 251,035. The company has a market capitalization of $2,890.00, a PE ratio of 14.34, a PEG ratio of 0.99 and a beta of 1.72. Lithia Motors, Inc. has a twelve month low of $75.85 and a twelve month high of $123.50. The company has a current ratio of 1.19, a quick ratio of 0.23 and a debt-to-equity ratio of 0.79.
Lithia Motors (NYSE:LAD) last released its earnings results on Wednesday, October 25th. The company reported $2.18 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.37 by ($0.19). The business had revenue of $2.69 billion during the quarter, compared to analysts’ expectations of $2.62 billion. Lithia Motors had a net margin of 2.14% and a return on equity of 21.47%. Lithia Motors’s revenue for the quarter was up 18.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.06 EPS. sell-side analysts predict that Lithia Motors, Inc. will post 8.34 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 24th. Stockholders of record on Friday, November 10th will be issued a $0.27 dividend. The ex-dividend date is Thursday, November 9th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.93%. Lithia Motors’s payout ratio is currently 13.12%.
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Lithia Motors 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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