Prudential Financial Inc. Sells 15,080 Shares of Lithia Motors, Inc. (LAD)
Prudential Financial Inc. lessened its holdings in shares of Lithia Motors, Inc. (NYSE:LAD) by 17.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 73,031 shares of the company’s stock after selling 15,080 shares during the quarter. Prudential Financial Inc. owned approximately 0.30% of Lithia Motors worth $8,786,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Koch Industries Inc. purchased a new position in shares of Lithia Motors during the 2nd quarter worth $201,000. Copeland Capital Management LLC lifted its stake in shares of Lithia Motors by 1.4% during the 3rd quarter. Copeland Capital Management LLC now owns 164,869 shares of the company’s stock worth $19,835,000 after purchasing an additional 2,204 shares during the period. Piedmont Investment Advisors LLC purchased a new position in shares of Lithia Motors during the 2nd quarter worth $484,000. Northern Trust Corp lifted its stake in shares of Lithia Motors by 2.7% during the 2nd quarter. Northern Trust Corp now owns 322,984 shares of the company’s stock worth $30,436,000 after purchasing an additional 8,352 shares during the period. Finally, Vanguard Group Inc. lifted its stake in shares of Lithia Motors by 2.8% during the 2nd quarter. Vanguard Group Inc. now owns 2,097,189 shares of the company’s stock worth $197,618,000 after purchasing an additional 56,888 shares during the period. 98.47% of the stock is currently owned by institutional investors.
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In other news, Director Sidney B. Deboer sold 65,711 shares of the company’s stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $121.77, for a total transaction of $8,001,628.47. Following the completion of the sale, the director now directly owns 1,421 shares in the company, valued at approximately $173,035.17. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Sidney B. Deboer sold 831 shares of the company’s 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 of the company’s stock, valued at $49,067.56. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 112,573 shares of company stock valued at $13,465,667. Insiders own 7.85% of the company’s stock.
Lithia Motors, Inc. (LAD) traded down $0.70 during mid-day trading on Friday, hitting $114.01. The stock had a trading volume of 107,900 shares, compared to its average volume of 269,329. The firm has a market cap of $2,845.46, a P/E ratio of 14.07, a price-to-earnings-growth ratio of 0.97 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, Inc. has a 1-year low of $80.88 and a 1-year high of $123.50.
Lithia Motors (NYSE:LAD) last released its quarterly earnings data on Wednesday, October 25th. The company reported $2.18 EPS for the quarter, missing analysts’ consensus estimates of $2.37 by ($0.19). The firm had revenue of $2.69 billion for the quarter, compared to analyst estimates of $2.62 billion. Lithia Motors had a return on equity of 21.02% and a net margin of 2.14%. The company’s quarterly revenue was up 18.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.06 earnings per share. equities analysts forecast that Lithia Motors, Inc. will post 8.33 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 24th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.95%. Lithia Motors’s payout ratio is 13.12%.
A number of brokerages have weighed in on LAD. KeyCorp reissued a “buy” rating and set a $130.00 price target on shares of Lithia Motors in a research note on Monday, November 13th. Zacks Investment Research lowered Lithia Motors from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 10th. Berenberg Bank began coverage on Lithia Motors in a research note on Wednesday, October 4th. They set a “hold” rating and a $126.00 price target on the stock. Jefferies Group LLC reissued a “buy” rating and set a $125.00 price target on shares of Lithia Motors in a research note on Thursday, August 3rd. Finally, Morgan Stanley reissued an “overweight” rating and set a $116.00 price target (up previously from $106.00) on shares of Lithia Motors in a research note 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 given 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 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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