Vanguard Group Inc. Purchases 15,962 Shares of Lithia Motors, Inc. (NYSE:LAD) (2024)

Posted by ABMN Staff on Jun 22nd, 2024

Vanguard Group Inc. increased its position in Lithia Motors, Inc. (NYSE:LAD – Free Report) by 0.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 2,823,369 shares of the company’s stock after acquiring an additional 15,962 shares during the period. Vanguard Group Inc. owned about 0.10% of Lithia Motors worth $929,679,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LAD. Wellington Management Group LLP grew its position in shares of Lithia Motors by 413.6% during the 4th quarter. Wellington Management Group LLP now owns 65,142 shares of the company’s stock worth $21,450,000 after buying an additional 52,458 shares during the period. Goldman Sachs Group Inc. boosted its stake in Lithia Motors by 24.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 49,797 shares of the company’s stock valued at $16,397,000 after acquiring an additional 9,818 shares during the last quarter. Eventide Asset Management LLC grew its holdings in Lithia Motors by 8.2% during the 4th quarter. Eventide Asset Management LLC now owns 267,877 shares of the company’s stock worth $88,207,000 after acquiring an additional 20,363 shares during the period. Goodnow Investment Group LLC raised its position in shares of Lithia Motors by 6.7% during the 4th quarter. Goodnow Investment Group LLC now owns 21,841 shares of the company’s stock valued at $7,192,000 after acquiring an additional 1,370 shares during the last quarter. Finally, Frontier Capital Management Co. LLC lifted its stake in shares of Lithia Motors by 13.7% in the 4th quarter. Frontier Capital Management Co. LLC now owns 262,602 shares of the company’s stock valued at $86,470,000 after purchasing an additional 31,670 shares during the period.

Lithia Motors Stock Up 0.1 %

Shares of LAD stock opened at $248.64 on Friday. Lithia Motors, Inc. has a 12-month low of $231.36 and a 12-month high of $331.96. The company has a quick ratio of 0.28, a current ratio of 1.17 and a debt-to-equity ratio of 1.17. The firm has a fifty day moving average of $259.42 and a 200-day moving average of $282.59. The company has a market capitalization of $6.82 billion, a price-to-earnings ratio of 7.34, a P/E/G ratio of 2.94 and a beta of 1.62.

Lithia Motors (NYSE:LAD – Get Free Report) last released its earnings results on Wednesday, April 24th. The company reported $6.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $7.85 by ($1.74). The firm had revenue of $8.56 billion for the quarter, compared to the consensus estimate of $8.58 billion. Lithia Motors had a return on equity of 15.62% and a net margin of 2.87%. Lithia Motors’s revenue for the quarter was up 22.7% on a year-over-year basis. During the same quarter last year, the company posted $8.44 EPS. As a group, equities research analysts predict that Lithia Motors, Inc. will post 28.79 earnings per share for the current fiscal year.

Lithia Motors Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Friday, May 10th were paid a $0.53 dividend. This is a boost from Lithia Motors’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $2.12 annualized dividend and a yield of 0.85%. Lithia Motors’s payout ratio is presently 6.26%.

Insiders Place Their Bets

In other news, Director Shauna Mcintyre sold 138 shares of Lithia Motors stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $254.42, for a total value of $35,109.96. Following the sale, the director now directly owns 2,228 shares in the company, valued at $566,847.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.79% of the company’s stock.

Analyst Upgrades and Downgrades

LAD has been the subject of a number of analyst reports. Guggenheim cut Lithia Motors from a “buy” rating to a “neutral” rating in a research note on Friday, May 17th. Wells Fargo & Company lowered their price target on Lithia Motors from $290.00 to $248.00 and set an “equal weight” rating for the company in a research note on Thursday, April 25th. StockNews.com raised shares of Lithia Motors from a “sell” rating to a “hold” rating in a research note on Friday, April 26th. Craig Hallum decreased their price objective on shares of Lithia Motors from $350.00 to $310.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Finally, Morgan Stanley increased their target price on shares of Lithia Motors from $220.00 to $230.00 and gave the stock an “underweight” rating in a report on Thursday, February 29th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $319.45.

View Our Latest Analysis on LAD

About Lithia Motors

(Free Report)

Lithia Motors, Inc operates as an automotive retailer worldwide. It operates in two segments, Vehicle Operations and Financing Operations. The company's Vehicle Operations segment sells new and used vehicles; provides parts, repair, and maintenance services; vehicle finance; and insurance products.

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Want to see what other hedge funds are holding LAD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lithia Motors, Inc. (NYSE:LAD – Free Report).

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