Canada Pension Plan Investment Board Sells 101,300 Shares of Lithia Motors, Inc. (NYSE:LAD)

Canada Pension Plan Investment Board reduced its position in Lithia Motors, Inc. (NYSE:LAD - Free Report) by 14.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 578,411 shares of the company's stock after selling 101,300 shares during the period. Canada Pension Plan Investment Board owned approximately 2.17% of Lithia Motors worth $206,741,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Atlas Capital Advisors Inc. purchased a new position in shares of Lithia Motors during the 4th quarter valued at approximately $34,000. SBI Securities Co. Ltd. bought a new position in Lithia Motors during the 4th quarter valued at $35,000. UMB Bank n.a. increased its position in shares of Lithia Motors by 69.9% in the 4th quarter. UMB Bank n.a. now owns 124 shares of the company's stock worth $44,000 after purchasing an additional 51 shares during the last quarter. V Square Quantitative Management LLC increased its holdings in Lithia Motors by 33.9% in the fourth quarter. V Square Quantitative Management LLC now owns 146 shares of the company's stock valued at $52,000 after buying an additional 37 shares during the last quarter. Finally, Rakuten Securities Inc. lifted its holdings in Lithia Motors by 1,420.0% during the 4th quarter. Rakuten Securities Inc. now owns 152 shares of the company's stock worth $54,000 after buying an additional 142 shares during the last quarter.

Lithia Motors Stock Performance

LAD stock traded up $10.31 during midday trading on Tuesday, hitting $294.13. 89,663 shares of the company traded hands, compared to its average volume of 375,557. The company has a quick ratio of 0.28, a current ratio of 1.19 and a debt-to-equity ratio of 1.22. The business has a 50 day simple moving average of $312.31 and a 200-day simple moving average of $341.42. The stock has a market capitalization of $7.73 billion, a price-to-earnings ratio of 9.91, a price-to-earnings-growth ratio of 4.65 and a beta of 1.61. Lithia Motors, Inc. has a twelve month low of $243.00 and a twelve month high of $405.67.

Lithia Motors (NYSE:LAD - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $7.79 earnings per share for the quarter, topping the consensus estimate of $7.33 by $0.46. Lithia Motors had a return on equity of 12.43% and a net margin of 2.21%. As a group, equities research analysts predict that Lithia Motors, Inc. will post 34.45 earnings per share for the current year.

Lithia Motors Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date was Friday, March 7th. Lithia Motors's dividend payout ratio (DPR) is presently 7.14%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on LAD. StockNews.com raised shares of Lithia Motors from a "sell" rating to a "hold" rating in a research report on Tuesday, January 14th. Guggenheim reduced their price objective on Lithia Motors from $417.00 to $356.00 and set a "buy" rating for the company in a research report on Tuesday. Evercore ISI boosted their price target on shares of Lithia Motors from $400.00 to $440.00 and gave the company an "outperform" rating in a report on Tuesday, February 18th. Wells Fargo & Company reduced their target price on shares of Lithia Motors from $397.00 to $308.00 and set an "equal weight" rating for the company in a research note on Monday. Finally, Benchmark reissued a "buy" rating and issued a $400.00 price objective on shares of Lithia Motors in a report on Thursday, February 20th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $352.18.

Insiders Place Their Bets

In related news, Director Shauna Mcintyre sold 248 shares of the firm's stock in a transaction on Friday, March 14th. The stock was sold at an average price of $290.84, for a total value of $72,128.32. Following the completion of the transaction, the director now directly owns 1,297 shares of the company's stock, valued at $377,219.48. This trade represents a 16.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Gary M. Glandon sold 325 shares of the firm's stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $387.86, for a total transaction of $126,054.50. Following the transaction, the insider now directly owns 1,665 shares of the company's stock, valued at $645,786.90. The trade was a 16.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,246 shares of company stock worth $433,724 in the last ninety days. Insiders own 0.87% of the company's stock.

About Lithia Motors

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. Its Financing Operations segment provides financing to customers buying and leasing retail vehicles.