Bridges Investment Management Inc. Purchases 11,500 Shares of Lithia Motors, Inc. (NYSE:LAD)

Bridges Investment Management Inc. raised its holdings in Lithia Motors, Inc. (NYSE:LAD - Free Report) by 5.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 241,420 shares of the company's stock after acquiring an additional 11,500 shares during the period. Lithia Motors comprises about 1.0% of Bridges Investment Management Inc.'s investment portfolio, making the stock its 28th largest holding. Bridges Investment Management Inc. owned about 0.92% of Lithia Motors worth $70,866,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Atlas Capital Advisors Inc. acquired a new position in shares of Lithia Motors during the fourth quarter worth about $34,000. SBI Securities Co. Ltd. acquired a new position in shares of Lithia Motors during the fourth quarter worth about $35,000. Rakuten Securities Inc. boosted its position in shares of Lithia Motors by 1,420.0% during the fourth quarter. Rakuten Securities Inc. now owns 152 shares of the company's stock worth $54,000 after buying an additional 142 shares during the period. NBC Securities Inc. acquired a new position in shares of Lithia Motors during the first quarter worth about $59,000. Finally, UMB Bank n.a. boosted its position in shares of Lithia Motors by 63.7% during the first quarter. UMB Bank n.a. now owns 203 shares of the company's stock worth $60,000 after buying an additional 79 shares during the period.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on LAD shares. The Goldman Sachs Group initiated coverage on Lithia Motors in a research note on Tuesday, June 3rd. They issued a "neutral" rating and a $340.00 price target for the company. Citigroup raised shares of Lithia Motors from a "neutral" rating to a "buy" rating and decreased their target price for the company from $415.00 to $375.00 in a research note on Wednesday, April 23rd. Guggenheim cut their price target on shares of Lithia Motors from $417.00 to $356.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Bank of America lifted their price objective on shares of Lithia Motors from $430.00 to $500.00 and gave the company a "buy" rating in a research report on Monday, June 16th. Finally, Wells Fargo & Company upped their target price on shares of Lithia Motors from $305.00 to $364.00 and gave the company an "equal weight" rating in a report on Wednesday. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Lithia Motors currently has an average rating of "Moderate Buy" and a consensus target price of $385.00.

Lithia Motors Stock Performance

NYSE:LAD traded up $6.67 on Thursday, hitting $356.76. The company's stock had a trading volume of 154,453 shares, compared to its average volume of 310,969. The company has a current ratio of 1.18, a quick ratio of 0.31 and a debt-to-equity ratio of 1.22. The stock has a fifty day moving average of $324.80 and a two-hundred day moving average of $327.62. The firm has a market capitalization of $9.29 billion, a P/E ratio of 11.24, a price-to-earnings-growth ratio of 0.56 and a beta of 1.46. Lithia Motors, Inc. has a one year low of $247.01 and a one year high of $405.68.

Lithia Motors (NYSE:LAD - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The company reported $7.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.77 by ($0.11). The business had revenue of $9.18 billion during the quarter, compared to the consensus estimate of $9.19 billion. Lithia Motors had a net margin of 2.30% and a return on equity of 12.74%. Lithia Motors's quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $6.11 EPS. Research analysts predict that Lithia Motors, Inc. will post 34.45 earnings per share for the current year.

Lithia Motors Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, May 9th were paid a dividend of $0.55 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.62%. This is a positive change from Lithia Motors's previous quarterly dividend of $0.53. Lithia Motors's dividend payout ratio (DPR) is 6.93%.

Insider Buying and Selling at Lithia Motors

In other news, Director Shauna Mcintyre sold 337 shares of the stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $295.94, for a total transaction of $99,731.78. Following the transaction, the director owned 1,632 shares in the company, valued at approximately $482,974.08. This trade represents a 17.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.87% of the company's stock.

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.