Municipal Employees Retirement System of Michigan Purchases 3,400 Shares of Lithia Motors, Inc. (LAD)
Municipal Employees Retirement System of Michigan raised its position in shares of Lithia Motors, Inc. (NYSE:LAD) by 60.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,040 shares of the company’s stock after acquiring an additional 3,400 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Lithia Motors were worth $1,088,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently modified their holdings of the company. D.A. Davidson & CO. raised its holdings in shares of Lithia Motors by 7.3% during the 2nd quarter. D.A. Davidson & CO. now owns 1,104 shares of the company’s stock worth $104,000 after acquiring an additional 75 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Lithia Motors by 9.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,198 shares of the company’s stock worth $113,000 after acquiring an additional 105 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of Lithia Motors during the 3rd quarter worth approximately $144,000. Public Employees Retirement System of Ohio raised its holdings in shares of Lithia Motors by 10.0% during the 1st quarter. Public Employees Retirement System of Ohio now owns 1,602 shares of the company’s stock worth $137,000 after acquiring an additional 146 shares in the last quarter. Finally, Eqis Capital Management Inc. purchased a new stake in shares of Lithia Motors during the 3rd quarter worth approximately $202,000. 98.47% of the stock is currently owned by institutional investors and hedge funds.
In other Lithia Motors news, Director Sidney B. Deboer sold 831 shares of the stock in a transaction on Friday, November 17th. The stock was sold at an average price of $113.32, for a total value of $94,168.92. Following the sale, the director now owns 433 shares in the company, valued at $49,067.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Kenneth E. Roberts sold 25,000 shares of the stock in a transaction on Wednesday, September 27th. The stock was sold at an average price of $117.19, for a total value of $2,929,750.00. Following the completion of the sale, the director now owns 130,598 shares in the company, valued at approximately $15,304,779.62. The disclosure for this sale can be found here. In the last quarter, insiders sold 112,573 shares of company stock worth $13,465,667. Insiders own 7.85% of the company’s stock.
Shares of Lithia Motors, Inc. (LAD) opened at $114.01 on Thursday. Lithia Motors, Inc. has a twelve month low of $80.88 and a twelve month high of $123.50. The firm has a market capitalization of $2,862.93, a price-to-earnings ratio of 14.16, a P/E/G ratio of 0.98 and a beta of 1.72. The company has a current ratio of 1.21, a quick ratio of 0.26 and a debt-to-equity ratio of 0.96.
Lithia Motors (NYSE:LAD) last released its quarterly earnings results on Wednesday, October 25th. The company reported $2.18 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.37 by ($0.19). Lithia Motors had a net margin of 2.14% and a return on equity of 21.02%. The company had revenue of $2.69 billion for the quarter, compared to analysts’ expectations of $2.62 billion. During the same quarter in the previous year, the company posted $2.06 EPS. The business’s quarterly revenue was up 18.7% on a year-over-year basis. equities analysts forecast that Lithia Motors, Inc. will post 8.33 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 24th. Investors of record on Friday, November 10th will be issued a dividend of $0.27 per share. The ex-dividend date is Thursday, November 9th. This represents a $1.08 annualized dividend and a yield of 0.95%. Lithia Motors’s payout ratio is presently 13.12%.
Several analysts have recently issued reports on the company. KeyCorp reaffirmed a “buy” rating and set a $130.00 price objective (up from $119.00) on shares of Lithia Motors in a report on Wednesday, October 4th. Zacks Investment Research lowered Lithia Motors from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 10th. Berenberg Bank assumed coverage on Lithia Motors in a report on Wednesday, October 4th. They set a “hold” rating and a $126.00 price target on the stock. Jefferies Group LLC restated a “buy” rating and set a $125.00 price target on shares of Lithia Motors in a report on Thursday, August 3rd. Finally, Morgan Stanley restated an “overweight” rating and set a $116.00 price target (up previously from $106.00) on shares of Lithia Motors in a report on Wednesday, August 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $116.29.
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About Lithia Motors
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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