Ensign Peak Advisors Inc Trims Position in Lithia Motors, Inc. (NYSE:LAD)

Ensign Peak Advisors Inc decreased its position in Lithia Motors, Inc. (NYSE:LAD - Free Report) by 76.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,130 shares of the company's stock after selling 55,647 shares during the period. Ensign Peak Advisors Inc owned approximately 0.06% of Lithia Motors worth $6,123,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. V Square Quantitative Management LLC boosted its position in shares of Lithia Motors by 33.9% during the 4th quarter. V Square Quantitative Management LLC now owns 146 shares of the company's stock valued at $52,000 after purchasing an additional 37 shares in the last quarter. Benjamin Edwards Inc. grew its position in shares of Lithia Motors by 5.6% during the 4th quarter. Benjamin Edwards Inc. now owns 700 shares of the company's stock worth $250,000 after buying an additional 37 shares during the period. CIBC Asset Management Inc increased its stake in shares of Lithia Motors by 5.1% in the 4th quarter. CIBC Asset Management Inc now owns 863 shares of the company's stock valued at $308,000 after acquiring an additional 42 shares in the last quarter. Mariner LLC lifted its position in shares of Lithia Motors by 2.9% during the 4th quarter. Mariner LLC now owns 1,475 shares of the company's stock valued at $527,000 after acquiring an additional 42 shares during the period. Finally, Isthmus Partners LLC boosted its stake in Lithia Motors by 4.6% during the fourth quarter. Isthmus Partners LLC now owns 1,147 shares of the company's stock worth $410,000 after acquiring an additional 50 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on LAD. Citigroup upgraded Lithia Motors from a "neutral" rating to a "buy" rating and reduced their target price for the company from $415.00 to $375.00 in a research note on Wednesday, April 23rd. Wells Fargo & Company decreased their price objective on Lithia Motors from $397.00 to $308.00 and set an "equal weight" rating for the company in a report on Monday, April 21st. JPMorgan Chase & Co. reduced their price target on shares of Lithia Motors from $420.00 to $360.00 and set an "overweight" rating for the company in a research report on Thursday, March 27th. Guggenheim lowered their price objective on shares of Lithia Motors from $417.00 to $356.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Finally, The Goldman Sachs Group reduced their price objective on shares of Lithia Motors from $385.00 to $328.00 and set a "neutral" rating for the company in a report on Thursday, April 24th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $361.20.

Lithia Motors Stock Performance

Shares of NYSE:LAD traded down $1.04 during midday trading on Monday, reaching $322.54. 92,988 shares of the company traded hands, compared to its average volume of 314,287. The firm's fifty day moving average price is $297.42 and its two-hundred day moving average price is $339.30. Lithia Motors, Inc. has a 12 month low of $243.04 and a 12 month high of $405.68. 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 firm has a market capitalization of $8.40 billion, a price-to-earnings ratio of 10.84, a price-to-earnings-growth ratio of 4.65 and a beta of 1.48.

Lithia Motors (NYSE:LAD - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $7.66 EPS for the quarter, missing analysts' consensus estimates of $7.77 by ($0.11). Lithia Motors had a net margin of 2.21% and a return on equity of 12.43%. The business had revenue of $9.18 billion for the quarter, compared to the consensus estimate of $9.19 billion. During the same quarter in the previous year, the business earned $6.11 earnings per share. The firm's revenue was up 7.2% on a year-over-year basis. On average, equities analysts expect that Lithia Motors, Inc. will post 34.45 earnings per share for the current year.

Lithia Motors Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Friday, May 9th will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 0.68%. This is an increase from Lithia Motors's previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Friday, May 9th. Lithia Motors's payout ratio is 6.93%.

Insider Activity

In other news, Director Shauna Mcintyre sold 248 shares of the company'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 sale, the director now directly owns 1,297 shares in the company, valued at $377,219.48. This represents a 16.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Congdon Stacy Loretz sold 270 shares of the firm's stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $298.80, for a total value of $80,676.00. Following the completion of the transaction, the director now directly owns 1,213 shares in the company, valued at approximately $362,444.40. This represents a 18.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 855 shares of company stock worth $252,536 over the last three months. 0.87% of the stock is currently owned by corporate insiders.

Lithia Motors Company Profile

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.